Unmatched transactions are items that appear in either your accounting system or on your bank statement but have not been paired with a corresponding entry in the other record. Finding and reviewing these unmatched items is essential for accurate bank reconciliation, as they represent potential discrepancies, timing differences or errors that need investigation and resolution before you can complete the reconciliation process.
Unmatched transactions fall into several categories including legitimate timing differences such as deposits in transit and outstanding cheques, missing entries that need to be added to your books, duplicate transactions that should be removed and data entry errors that require correction. Regularly identifying and addressing unmatched transactions prevents the accumulation of discrepancies and helps maintain clean, accurate financial records.
Exacc provides powerful filtering and search tools to help you quickly locate unmatched transactions across different time periods and accounts. The system categorises unmatched items by age, amount and type, allowing you to prioritise which transactions need immediate attention. Detailed transaction histories and audit trails help you investigate the source and reason for each unmatched item efficiently.
Ready to identify and manage your unmatched transactions? Follow our detailed guide below to find, investigate and resolve outstanding items systematically.
Locate, categorise and resolve transactions that have not been matched during reconciliation
You have successfully identified and categorised your unmatched transactions - you can now resolve each item appropriately to complete your reconciliation.