How to automate QuickBooks bank reconciliation reports for audit review

QuickBooks’ native reconciliation reports lack the flexibility and automation needed for comprehensive audit documentation. The manual, time-intensive process of preparing reconciliation reports for audit review creates bottlenecks and potential errors.

Here’s how to automate your bank reconciliation reports with comprehensive transaction tracking and exception reporting that auditors need.

Automate comprehensive bank reconciliation reports using Coefficient

Coefficient automates QuickBooks bank reconciliation reports by pulling reconciliation data, transaction details, and creating automated exception reports. You get comprehensive audit documentation without manual report generation.

How to make it work

Step 1. Import reconciliation data from QuickBooks reports.

Use Coefficient’s report import functionality to pull Bank Reconciliation reports directly from QuickBooks. This captures reconciled and unreconciled transactions with their status and dates, giving you the foundation for audit review.

Step 2. Create comprehensive transaction views by bank account.

Import Transaction Lists filtered by bank accounts to show all deposits, checks, and transfers. Use Coefficient’s filtering capabilities to automatically separate reconciled vs. unreconciled items for clear audit trails.

Step 3. Build outstanding item tracking with dynamic filters.

Set up filters that automatically identify and highlight outstanding checks, deposits in transit, and other reconciling items that require audit attention. These filters update automatically as reconciliation status changes.

Step 4. Automate period-end reconciliation snapshots.

Schedule imports to capture reconciliation status at specific dates like month-end and quarter-end. This maintains historical reconciliation records for audit trail purposes and tracks how outstanding items clear over time.

Step 5. Create automated exception reports.

Build reports that automatically highlight unusual reconciling items, old outstanding transactions, or significant variances that auditors typically focus on. Use Excel formulas to flag items that meet specific criteria like age or dollar thresholds.

Step 6. Add bank statement integration capabilities.

While QuickBooks data flows automatically, you can manually import bank statement data into adjacent sheets and use Excel formulas to perform automated matching and variance identification between book and bank balances.

Streamline your reconciliation audit process

Automated bank reconciliation reports eliminate manual report generation and ensure auditors have access to current, complete reconciliation data with proper supporting detail. Start automating your reconciliation reports today.