Check bank statement balances before you export
A balance check is a useful way to find errors in a transaction table. It is one check in a review, not a certificate of accuracy.
Use the same statement period
Take opening and closing balances from the same account and period as the rows you are reviewing. Do not combine balances from different currencies or accounts.
Understand the calculation
For an ordinary deposit account, expected closing balance equals opening balance plus credits minus debits. FolioTern calculates in integer cents to avoid cumulative floating-point rounding errors. Other account types may need a different interpretation.
Read a mismatch
A non-zero difference can indicate a missing row, duplicated transaction, reversed debit/credit, wrong amount or wrong starting balance. Check the source before changing values to make a difference disappear.
Inspect running balances
When an opening or earlier row balance exists, the converter compares the next transaction with its entered balance. Missing balances, missing amounts, non-chronological rows and incomplete source data can limit the check.
Finish with a source review
Check dates, descriptions and the document itself even when the totals match. Two errors can cancel out. Use the review acknowledgement only after investigating the remaining flags.