Set up a year-end true-up

When To Use A Year-End True-Up

Use Year-end true-up when the account does not need transaction-by- transaction reconciliation and the firm instead wants one annual comparison between the December statement ending balance and the posted ledger balance.

Open Chart of Accounts, choose the account, open Settings, and turn on Include in Recs & Statements. Regular reconciliation appears first. Change How should LedgerHQ check it? to Year-end true-up only when this annual balance check is the intended workflow.

The Schedule Is Automatic

A year-end true-up always uses the December statement. LedgerHQ checks for that statement seven days after year end, in January, so there is no frequency, statement-month, start-date, or request-timing choice to make in the form.

You still choose Who provides the statement?:

• Client uploads it expects the client to supply the file. If the company allows Tally statement requests, LedgerHQ can open the client-request workflow when the statement is missing.
• Firm collects it keeps collection with the accounting firm.
• Plaid supplies it expects the connected institution to provide it.

Choose Save reconciliation settings after confirming the statement source.

Review And Complete The True-Up

When the December statement is verified, LedgerHQ compares its ending balance with the account's posted ledger balance. A matching balance records the check without a journal entry. If there is a difference, review the statement and ledger activity before proceeding. Completing an adjustment requires the accountant to select the offset account explicitly; LedgerHQ does not choose one silently.

A verified statement is evidence for the comparison. It does not certify that all bookkeeping is complete. For statement upload and review details, see Statements and statement coverage. For transaction-by-transaction work, see Set up regular reconciliation tracking.