Month-End Close

Check a balance sheet reconciliation for errors

Have AI act as a second reviewer on a reconciliation workpaper: footing, the tie to the general ledger, stale reconciling items, repeats from last month and sign errors.

Time
About 15 min per rec
Level
Intermediate
Works with
Claude, ChatGPT, Microsoft Copilot, Gemini

What you need

  • The reconciliation workpaper (GL balance, supporting balance and reconciling items with dates and amounts)
  • Last month's reconciliation for the same account

Steps

  1. Export both workpapers to CSV or Excel. Mask account numbers to the last four digits.
  2. Use an AI tool that can run calculations on files (for example, Claude or ChatGPT with file analysis), so the math is computed rather than estimated.
  3. Paste the prompt and attach both files.
  4. Investigate each finding in your own workpaper before you clear it.

The prompt

Fill in the highlighted brackets
Act as the reviewer of a month-end balance sheet reconciliation. Run calculations with code or formulas; do not do arithmetic in your head.

Attached: this month's reconciliation and last month's reconciliation for the same account.

Check and report:
1. Footing: re-add every column and total. Report any difference.
2. Tie-out: confirm GL balance plus or minus reconciling items equals the supporting balance (bank, subledger or schedule).
3. Aging: list reconciling items older than [60] days as of [period end date].
4. Carryforward: list items that appear in both months with the same amount and description.
5. Unusual items: round-dollar amounts, items without a date or description, and possible sign errors.

Return a findings table with columns: Finding, Item, Amount, Severity (High, Medium or Low), Suggested follow-up. If everything ties, say so and show the totals you computed.

Review before you use it

  • Footing differences were confirmed by re-adding in Excel.
  • Stale items have an owner and a follow-up date.
  • Items carried forward from last month have a documented reason.
  • The preparer and reviewer signed and dated the reconciliation.

Never paste into an AI tool

  • Full bank, card or loan account numbers (mask to the last four)
  • Customer personal information
  • Use a business or enterprise AI plan that does not train on your data, and follow your company's AI policy.

Tips

  • Ask the AI for Excel formulas for its checks, so you can add them to the reconciliation template permanently.

Educational content, not professional advice. AI output can be wrong; review it before relying on it. Disclaimer