Free GL Account Reconciliation Template (Excel)
What Is GL Account Reconciliation
GL account reconciliation is the process of confirming that a general ledger account's balance matches its supporting detail - a bank statement, a subledger, or another independent source. When the two agree, the account is reconciled. When they don't, the difference is a variance that needs investigating before you close the books.
It's a control step, not a one-time task: accounts like cash, accounts receivable, and payroll liabilities typically get reconciled on a recurring schedule (monthly, in most small businesses) so errors and timing differences get caught early instead of piling up.
Inside the Free GL Reconciliation Template
The Reconciliation sheet holds up to 40 accounts, each with an account number and name, GL balance, supporting balance, who reconciled it, the date, and a notes column for adjustments. Two columns - variance and a Review/OK flag - calculate on their own once you enter the two balances.
A second sheet, Monthly Log, is a 200-row rolling history: one row per account per month, so you can look back and see which accounts reconciled cleanly and which stayed open across periods.
Matching the GL Balance to Supporting Detail
For each account, you enter the balance as it stands in the general ledger and the balance from its supporting source - a bank statement, a subledger total, or another system of record. The template subtracts one from the other to get the variance the moment both numbers are in.
If the two balances already match, the variance shows as zero and the account is flagged OK without you doing anything else. If they don't, the variance amount tells you exactly how far off the account is, so you know how much of a gap you're chasing before you dig into individual transactions.
Tracking Variances and Reconciliation Status Over Time
The Flag column marks every account Review or OK based on its variance, and conditional formatting highlights the Review rows so they stand out on a sheet with 40 accounts. The summary above the table counts how many accounts still need review and totals the outstanding variance across all of them.
The Monthly Log sheet extends that tracking across periods: mark each row Reconciled or Open item, and the summary counts how many accounts are still open for the month. That gives you a simple, month-over-month view of whether your reconciliation backlog is shrinking or growing.
How to use it
- List each GL account on the Reconciliation sheet with its general ledger balance and the supporting (bank or subledger) balance.
- Check the variance and Review/OK flag - they calculate automatically per account.
- Enter who reconciled the account, the date, and any notes on adjustments needed.
- Log the account on the Monthly Log sheet each month to keep a rolling reconciliation history.
Download the free Free GL Account Reconciliation Template (Excel)
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Small Business Bookkeeping & Tax Dashboard
Reconciliation confirms an account balance is right - it doesn't build the P&L behind it. The paid Bookkeeping & Tax Dashboard ($19) turns your categorized transactions into an automatic month-by-month P&L across 16 Schedule C categories, a tax dashboard, and a CPA-ready export.
See the full versionFrequently asked questions
Can I use this GL reconciliation template in Google Sheets?
Yes. Upload the downloaded file to Google Drive, then open it and choose File > Save as Google Sheets. The variance formulas and Review/OK flags keep working.
Is this template really free?
Yes. You give an email address to download it, and then it's yours to use with no further cost.
How many accounts can I reconcile with this template?
The Reconciliation sheet has 40 rows built in, which covers most small-business chart of accounts. The Monthly Log sheet has 200 rows for tracking those accounts across multiple months.
Does it reconcile the accounts automatically from a bank feed?
No. You enter the GL balance and the supporting balance manually; the template calculates the variance and flag. It doesn't connect to a bank or accounting system.
Is this accounting or tax advice?
No. This template is for record-keeping, not accounting or tax advice. Consult a licensed accountant for guidance specific to your business.