At the end of a month — or whenever you close a period — you need to confirm that what BasePro recorded matches what your bank actually shows. That is reconciliation: matching every recorded income entry and expense against the corresponding bank lines, and confirming the ending balance agrees.
Done once a month, it catches recording errors before they compound. This guide walks through the process.
What you need
- Your bank statement or bank feed for the period you are reconciling
- All income and expense entries for that period already recorded in BasePro (see How to record a payment and How to log an expense)
- The opening and closing balances from your bank statement
Steps
1. Open the bank account you are reconciling.
From your financial section, navigate to the relevant bank account — for example, the operating account for PORTFOLIO_A. You will see the account balance and the list of recorded transactions.
2. Set the reconciliation period.
Specify the period you are reconciling: start date, end date, and the closing balance from your bank statement. BasePro uses this closing balance as the target — it will show you whether your recorded transactions reach the same figure.
3. Work through the transaction list.
You will see your recorded transactions alongside the corresponding bank lines. For each item:
- Match the BasePro entry to the bank line if they correspond to the same event (same date, same amount, same payee).
- Flag any discrepancy — a transaction on the bank side that has no recorded entry, or vice versa. These are the gaps you need to resolve.
4. Resolve any gaps.
For each unmatched item:
- Missing entry in BasePro — a bank line has no corresponding entry. Record the missing transaction (see How to log an expense or How to record a payment), then return and match it.
- Entry in BasePro with no bank line — you recorded a transaction that the bank does not show. Check whether it was recorded on the wrong date, assigned to the wrong account, or is a future-dated item that has not cleared yet.
5. Confirm the closing balance.
When all transactions are matched and any gaps are resolved, your running balance in BasePro should match the closing balance on your bank statement. Confirm the reconciliation.
What you will see when it is done
- The reconciliation period is marked as closed, with a timestamp and a record of the confirmed closing balance.
- Any adjustments you made during reconciliation are visible in the transaction history.
- The account is clean for the next period.
How often to reconcile
Monthly is the standard for most portfolios — close each month before the next opens. For high-volume accounts, more frequent reconciliations mean shorter, faster runs each time.
If anything is unclear
The exact labels in your workspace may differ slightly from this guide. For the precise steps in your account, open BasePro Support from inside the app — it covers the reconciliation workflow in plain language.