Automation of Bank Reconciliation with Excel Macros

Banking reconciliation statements summarize bank and business activity. Using financial records and bank accounts, they reconcile a company’s finances. If you are looking for some special tricks to create a bank reconciliation statement in Excel with VBA Macros, you’ve come to the right place. There is one of the easiest ways to create a bank reconciliation using VBA Macros in Excel. Today, in this article, we’ll learn three quick and suitable steps to make a bank reconciliation in Excel with automation macros effectively with appropriate illustrations.


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Introduction to Bank Reconciliation in Excel

It involves comparing and coordinating data from our accounting records with that displayed on a bank statement. The goal is to identify and fix any potential issues, notify the bank immediately if they made a mistake, and fix the discrepancy on our end. Timing discrepancies are unavoidable because you might have written a check on August 5 and the bank might have cleared it on August 6. A manual bank reconciliation takes a lot of time and is prone to mistakes. Excel offers a simple and efficient way to carry out the task. We illustrate how to create bank reconciliation using stacked “for… next” loops in VBA Macros.


3 Quick Steps for Automation of Bank Reconciliation with Excel Macros

Let’s say, we have a dataset that contains information about several Transactions. Our dataset contains the Cheque Book Number, Withdrawal Amount, and corresponding Date. Using automation Macros, we will create a Bank Reconciliation. Here’s an overview of the dataset for today’s task.

bank reconciliation in excel with automation macros


Step 1: Create Dataset with Proper Parameters

In this section, we will create a dataset to make a Bank Reconciliation using VBA Macros in Excel. We will make a dataset that contains information about several Transactions. Our dataset contains the Cheque Book Number, Withdrawal Amount, corresponding Date, and so on. We will match the Cheque Book Number from the Bank data with Cheque Book data using the VBA Macros. So, our dataset becomes.


Step 2: Open Visual Basic Window

Now, we will enable macros to apply the VBA code. From our dataset, we can easily do that. Let’s follow the instructions below to learn!

  • First of all, press Alt + F11 from your keyboard.

bank reconciliation in excel with automation macros

  • As a result, a window named Microsoft Visual Basic for Applications – Bank Reconciliation will instantly appear in front of you. From that window, we will insert a module for applying our VBA code. To do that, go to,

Insert → Module

  • Hence, the Bank Reconciliation module pops up.

bank reconciliation in excel with automation macros


Step 3: Run Macros to Create Bank Reconciliation

In this section, we will run the VBA code to make the Bank Reconciliation. From our dataset, we will match the Cheque Book Number from the Bank data with Cheque Book data using the VBA Macros. Let’s follow the instructions below to create a bank reconciliation in Excel with automation macros!

  • Now, write down the below VBA code in the Bank Reconciliation The VBA code is,
Sub Bank_Reconciliation()
Dim R, M As Integer
For R = 5 To 12
For M = 5 To 12
If Cells(R, 3) = Cells(M, 7) And Cells(R, 4) = Cells(M, 8) Then
Cells(R, 5) = Cells(M, 7)
End If
Next M
Next R
End Sub

bank reconciliation in excel with automation macros

  • Hence, run the VBA To do that, go to,

Run → Run Sub/UserForm

  • After running the VBA Code, you will be able to match the Cheque Book number from Bank data with Cheque Book Data which has been given in the below screenshot.

bank reconciliation in excel with automation macros


Things to Remember

➜ If a Developer tab is not visible in your ribbon, you can make it visible. To do that, go to,

File → Option → Customize Ribbon

➜ While a value can not found in the referenced cell, the #N/A! error happens in Excel.

#DIV/0! error happens when a value is divided by zero(0) or the cell reference is blank.


Conclusion

I hope all of the suitable methods mentioned above to calculate the bank reconciliation will now provoke you to apply them in your Excel spreadsheets with more productivity. You are most welcome to feel free to comment if you have any questions or queries.

Md. Abdur Rahim Rasel

Md. Abdur Rahim Rasel

Hi! I'm Md. Abdur Rahim Rasel. Welcome to my Profile. Currently, I am working and doing research on Microsoft Excel and here I will be posting articles related to this. I have completed my graduation in Naval Architecture and Marine Engineering(NAME) from Bangladesh University of Engineering and Technology(BUET). I have a passion for learning new things with my knowledge through perseverance and hard work.

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