Key takeaways
- Ask for one statement per account, covering the full period.
- List the accounts so a forgotten savings or payroll account is visible.
- A transaction export is not a statement because it has no opening or closing balance.
- Reconcile each account to the general ledger before the close is finished.
- Use a secure upload link, not email attachments.
List every account first
Start with the accounts the firm already knows: the operating account, payroll, savings, money market, escrow and any line of credit. Ask the client to confirm the list and add any account opened during the period.
A client often sends the operating account and forgets the savings account that holds the tax reserve. The list makes the gap visible before the client hits send.
Ask for the statement, not the export
A statement covers a fixed period and shows the opening balance, the closing balance and every transaction. An export or a screenshot may show the transactions but not the balances, which means the bookkeeper cannot prove the reconciliation.
If the client uses online banking, the statement is usually a PDF in the documents or statements section. Ask for the PDF, not a printout of the transaction list.
Handle online-only and closed accounts
An online-only bank may not mail paper statements. Ask the client to download the PDF for each month and upload it to the secure link. If the account is closed, ask for the final statement and the closing date.
If the client cannot access an old account, the bank can usually provide statements for a fee. A prior bookkeeper or the tax preparer may also have the missing months.
Check the statement when it arrives
Open the statement and check three things: the account number ends with the expected digits, the period covers the full month and the closing balance is present. A statement for the wrong month is worse than no statement because it looks complete.
If the client sends a password-protected PDF, ask for an unlocked copy or the password through the secure link. Do not ask for the password in the same email as the file.
Reconcile before the close
Reconcile each bank account to the general ledger and keep the reconciliation with the statement. The reconciliation is the proof that the book balance matches the bank, and it is the first place a missing deposit or duplicate payment shows up.
If the reconciliation does not balance, look for an outstanding check, a bank fee, a transfer recorded in one account only or a deposit in transit. Do not plug the difference without finding the cause.
Keep the collection secure
Bank statements show account numbers, balances and payee names. Send the request through a secure link and keep the statements in the client's folder, not in an email inbox or a personal desktop.
Do not ask the client to type an account number in an email. The statement is the record, and the link is the delivery method.