Bank and card statements

A statement is the record that your bank or card company makes for one account and one period. It shows the starting balance, each transaction, and the ending balance.

Why statements matter

• They are the outside record that your books must agree with. Reconciliation compares your books with each statement. See Done and reconciled.
• They can be proof of payment. The IRS accepts some financial account statements as proof of payment when there is no canceled check, if the statement is highly legible and shows the required details.
• They are the source of your transactions in Righto. Righto keeps each original statement file inside the business file.

Statement files and statement PDFs

Most banks give the same transactions in more than one format. An OFX or QFX file is the most accurate, and it often includes the ending balance. A CSV file is good when OFX is not available. A PDF statement is the copy that the bank sends each month. See Import bank and card statements.

In Righto

Import each statement, then reconcile the period with the statement’s ending balance. Copy the ending balance from the statement itself, not from Righto.