Junaed-Ar-Rahman
In this article, we will demonstrate how to create an Excel checkbook register with Reconciliation. Bankers typically employ reconciliation in their daily work. The following article will help you create a reconciliation worksheet in Excel. We will use Microsoft 365 to do all these.
Download Practice Workbook
You may download the following workbook to practice yourself.
What Is Reconciliation?
Reconciliation is a technique in accounting that analyzes two sets of records to ensure that the numbers are accurate and consistent. Additionally, reconciliation verifies the consistency, accuracy, and completeness of the accounts in the general ledger.
Bank reconciliation, vendor reconciliation, business-specific reconciliation, intercompany reconciliation, and customer reconciliation are the five main categories of account reconciliation. However, in this article, we will focus mainly on Bank Reconciliation (Checkbook Register with Reconciliation).
Step-by-Step Procedure for Creating Excel Checkbook Register with Reconciliation
In this article, we will show the bank account information of a person named “John Smith”. He created his bank account in September 2022 and the Excel sheet we will create will show all the transactions of John Smith in September 2022. Now, let’s jump into the steps for creating the checkbook with reconciliation.
Step 1: Creating New Excel File & Giving Title
In this step, we will give a title for the Excel sheet. To do that, we will follow the steps below.
- In the very first step, we need to open a fresh Excel Workbook.
- Next, we will take some cells from one of the top rows and merge those cells into one. We will take B2:I2 in this case and will Merge & Center.
- Then, we will give a suitable title to it. I have given the name “Checkbook Register of A/C ID 058462”. Next we will modify the formatting of the cell to make it more attractive and elegant.
Read More: How to Perform Bank Reconciliation Using VLOOKUP in Excel
Step 2: Inserting Information of Account Holder into Excel Checkbook Register
Since we will create the checkbook for John Smith, we will insert his information regarding the account.
- To do that we will format the blank space for name as text and format the remaining as Currency. After that we will enter the information.
Read More: Automation of Bank Reconciliation with Excel Macros
Step 3: Creating Columns in Checkbook Register with Reconciliation
In this step, we will create 8 columns each with unique column headers and unique functions.
- From B10 to I10 we will name the columns as follows.
- Secondly, we will insert rows according to the requirements.
Read More: How to Reconcile Data in Excel (4 Easy Ways)
Step 4: Converting Range into Table
We will have to convert the range above into a table.
- To do that, we will select all the cells and select the Tables ribbon command and then Table.
- Then a dialog box appears in which we will select My Table has Headers and hit OK.
- After doing that, we get our desired table.
Read More: How to Reconcile Two Sets of Data in Excel (9 Simple Ways)
Step 5: Giving Input to Checkbook Register
In order to give the checkbook a genuine look, we will insert some random data into it.
Read More: How to Reconcile Data in 2 Excel Sheets (4 Ways)
Step 6: Inserting Formula into Balance Column
If we want to calculate balance, we will have to insert a formula in the balance column. We will follow the steps below to do that.
- We will insert the following formula into
=IF(ISBLANK(B12),"",I11-F12+G12)
- Then we hit ENTER as well as use the AutoFill feature to fill the remaining cells.
Conclusion
We have discussed the ways to create an Excel checkbook register with reconciliation in the above sections. Hope this will be very helpful for you. Let us know your views and recommendations in the comment section. Have a good day.
