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Best Practices for Month-End Reconciliation without Accounting Integrations

  • Updated

This guide explains how to complete a clean month-end close when using Float Business Accounts. It covers using CSV downloads of transactions, bill payments, and reimbursement payments to upload directly into your accounting system. It also highlights using your monthly statements to reconcile your Clearing Account.

The goal is to give you a simple, repeatable workflow that helps you keep your general ledger accurate each month.

 

Understanding your Float Business Accounts

Your Float Business Account (CAD/USD) is a pre-funded Cash account. When you spend, the transaction reduces your prepaid balance. Because this account acts like a stored-value wallet, all activity should reconcile back to a Float Clearing Account set up as an Asset in your accounting system.

Your Float Clearing Account should reflect all:

  • Card purchases

  • Bill payments

  • Reimbursement payouts

  • Funding top-ups

  • FX conversions

  • Credits or refunds

Your Float statements are the source of truth for all of these movements.

 

Using CSV Exports:

Businesses without a direct accounting integration with Float can use CSV downloads to import data directly into the accounting systems.

Card Transactions:

You can download all card transactions as a CSV to upload into your accounting system from Accounting > Transaction Export. You can utilize Float's standard CSV, which includes: 

  • GL code

  • Vendor

  • Tax codes

  • Custom fields

  • Split lines

  • Receipt attachments

You can also use a Custom CSV that you set up to match the way things look in your accounting system.

For more information on CSV downloads for transactions, please review the articles below:

How to Export Transactions in CSV

CSV Export Templates

Reimbursements:

You can download all reimbursement payments as a CSV to upload into your accounting system from Reimbursements > Payments.

For more information on downloading CSVs of reimbursements, please review the article below:

Exporting Reimbursements as CSV

Bill Payments:

You can download all bill payments as a CSV to upload into your accounting system from Bill Pay > Payments.

For more information on downloading CSVs of bills, please review the article below:

Exporting Bills as a CSV

 

What Float Doesn't Export

Some activities are not exported, even with an accounting integration, and must be added manually to your accounting system. Your Float Business Account statements capture all these items and should always be used as the source of truth.

Items that require manual recording:

  • Funding transfers (top-ups into Float)

  • Withdrawals from Float

  • FX conversions

  • Refunds, merchant credits, or inbound payments

  • Reimbursements and bills marked as "paid"

  • Transfers between Business Accounts (CAD ↔ USD)

  • Funds received in Float Business Accounts

 

Using Your Float Statements for Reconciliation

Your monthly Float statements include any balance-changing movement affecting your cash balance. Use them to assist you with reconciling your books:

  • Opening balance
  • Closing balance
  • All card transactions
  • All bill payments
  • All reimbursement payouts
  • Non-exported items (funding transfers, withdrawals, funds received in Float Business accounts, FX conversions)
  • Running balance

For more information on Float Statements, please review the articles below:

Statements Overview

Downloading a Float Account Statement

 

Recommended Month-End Workflow

Step 1: Download Statements

  1. Navigate to Accounts > Statements
  2. Decide between CSV or PDF download > select the month > click Download CSV/PDF

Please note: Statements are available per currency, per account. If you use both CAD & USD, you will need to download these statements separately.

 

Step 2: Review & Download Transactions via CSV

  1. Navigate to Accounting > Transaction Export
  2. Review transactions and ensure all required information is included before exporting (i.e., review coding, check for missing receipts, validate tax codes, confirm vendors and custom fields)
  3. Download the transactions as a CSV to import into your accounting system

For more information on transaction exports, please review this article: Transaction Export Overview

 

Step 3: Record Non-Exported Items

  1. Using your Statements, manually record all movements that don't automatically export, regardless of whether there's an accounting integration:
    • Funding/Top-Ups
    • Withdrawals
    • FX conversions
    • Funds received in Float Business Accounts
    • Reimbursements/Bills "marked as paid" in Float and paid outside of Float

 

Step 4: Reconcile the Float Clearing Account

Match the balance in your accounting system to the closing balance shown on your Float statements.

 

Step 5: Confirm Your Closing Balance

Once all exports and manual adjustments are recorded, your Float clearing account should match the closing balance on your statement exactly. 

If there are discrepancies, check for the following:

  • Missed funding entries
  • A refund or credit not added
  • A transfer only recorded on one side
  • FX movements not reflected

 

Example: Reconciling Your Float Business Account

Statement Summary:

  • Opening Balance: $50,000.00
  • Card Spend: -$18,500.00
  • FX Conversion: -$325.00
  • Top-Ups: +$20,000.00
  • Refund: +$120.00
  • Closing Balance: $51,295.00

Your Float clearing account should show:

  • Card spend exports: -$18,500.00
  • Manul entries:
    • Top-Ups: +$20,000.00
    • FX Conversion: -$325.00
    • Refund: +$120.00

Expected Closing Balance: $51,295.00

  • A mismatch typically means you're missing a manual entry item.

 

Tips for a Smooth Month-End Close

  • Export transactions throughout the month to reduce backlog
  • Use one clearing account per currency
  • Rely on your Float statements as the source of truth of money movement
  • If your clearing account goes into the negative, check for missing top-ups or manual entries

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