For construction controllers, office managers and CPA firms
Foundation Software bank reconciliation for contractors
Turn a PDF bank statement and a FOUNDATION cash account export into the list of items to clear. Find the receipts behind a lender draw, missing bank charges and checks still outstanding before finishing the reconciliation in FOUNDATION.
Works from exported files. You review the results and clear items in FOUNDATION.
Comparing construction accounting workflows? Read our bank reconciliation software guide for construction companies.
Run one real month before paying. Start with your statement and cash account export.
Reconcile a FOUNDATION account
The short answer
Foundation Software bank reconciliation means selecting cleared transactions in FOUNDATION and proving the cash balance against the bank statement. BankReconciler compares a FOUNDATION export with your statement to identify matches, missing entries, outstanding checks and deposits in transit. You review the results, post supported corrections and select the cleared items in FOUNDATION.
Where construction cash makes clearing harder
FOUNDATION is US construction accounting from Foundation Software, with General Ledger, Job Costing, AP, AR, Payroll, Equipment, PO & Subcontracts modules. Job costing and GL post from one transaction. The bank comparison still requires evidence of what actually cleared.
Draws and pay apps
One credit covers several receipts
An owner payment or lender draw can settle several pay applications. The bank credit and individual cash receipts need to be grouped before you clear them.
Payroll and subs
Checks that carry forward
Payroll and subcontractor checks can remain outstanding for months. Keep older items in the comparison and investigate their status before treating an uncleared check as an error.
Bank only lines
Entries absent from the books
Fees, interest and transfers may appear at the bank before the office records them. Investigate the unmatched statement line and its account coding before posting an adjustment.
FOUNDATION Pay
Payments still need a cash check
FOUNDATION Pay online payments let users reconcile receipts within FOUNDATION. That helps with payment receipts, but the account reconciliation must still cover checks, fees and other statement activity.
Choose how to prepare the cleared list
| Task | Clearing by hand in FOUNDATION | BankReconciler then clearing in FOUNDATION | Outsourced bookkeeper |
|---|---|---|---|
| Source documents | Read the statement alongside your records | Upload statement and FOUNDATION export | Provide statements and agreed records or access |
| Combined receipts | Add up receipts and check remittances | Review proposed grouped matches | Ask how grouped deposits are verified |
| Missing entries | Identify and investigate each difference | Review missing items and adjusting entries | Agree who investigates and approves corrections |
| Final clearing | You select cleared items in FOUNDATION | You select the reviewed items in FOUNDATION | Depends on scope and authorized access |
| Cost | Staff time within your existing workflow | From $49 monthly, plus review time | Quoted for the work agreed |
FOUNDATION alone is enough for a single account with low volume and clean data. Its General Ledger page describes reconciliation as "selecting each of your cleared transactions." Add matching when finding those transactions becomes the work. Outsourcing suits a team that also needs someone to investigate and post corrections. Compare Sage 100 Contractor reconciliation and Sage 300 reconciliation workflows if you support clients on other systems.
Reconcile a FOUNDATION bank account in four steps
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Export the cash account
Export the FOUNDATION cash account, GL detail or check register report to Excel or CSV. Include dates, references, descriptions and amounts for the statement period, plus older uncleared checks and deposits. Keep each entity and cash account separate.
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Get the statement
Download the matching statement as PDF, CSV, XLSX, OFX, QFX, QBO, MT940 or CAMT.053. Check the account and statement dates before uploading. A PDF from a bank without a transaction download is enough to start.
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Review the six matching passes
BankReconciler runs exact, date window, many-to-one deposits, one-to-many, reference and fuzzy amount passes. Review grouped and approximate matches against remittances and check records. Use the matched list, missing items on each side, outstanding checks, deposits in transit and adjusting entries to investigate differences.
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Finish in FOUNDATION
Review and enter supported adjusting entries in FOUNDATION, then select the matched transactions as cleared. Leave genuine outstanding checks and deposits in transit open. Confirm that adjusted bank and book balances agree and retain the supporting reconciliation for review.
Operating account review
Statement vs cash account
| Evidence | FOUNDATION records | Amount | Status |
|---|---|---|---|
| Remittance | Lender draw receiptsOne bank credit | Combined total | Review group |
| Statement | Supplier paymentCorresponding cash entry | Bank amount | Matched |
| Bank charge | No cash entryReview account coding | Statement fee | Adjust |
| Check record | Subcontractor checkAbsent from statement | Issued amount | Outstanding |
| Deposit record | Cash receiptConfirm later bank credit | Receipt amount | In transit |
What comes back for review
Matched items
The list to clear
Use the matched transactions to select cleared items in FOUNDATION. Review the supporting evidence before accepting a proposed match.
Grouped deposits
Receipts behind a draw
Compare the suggested group with the payment advice. See how matching bank deposits to invoices addresses combined receipts.
Missing entries
Items missing on either side
Separate statement activity absent from the export from book entries absent from the statement. Check the export scope before concluding an entry is missing.
Adjusting entries
Adjustments to review
Review proposed adjustments against bank evidence and your chart of accounts. Post approved entries yourself and resolve the remaining difference.
Outstanding items
Checks and deposits still open
Distinguish an uncashed payroll or subcontractor check from a deposit in transit. Confirm later clearance rather than removing an old item just to balance.
Export workflow
Keep the accounting in FOUNDATION
BankReconciler works from files without a FOUNDATION integration, API, plugin, partnership or bank feed. For another system comparison, see Acumatica bank reconciliation.
Use the workflow that fits your construction books
General and specialty contractors
A general contractor can group owner payments across pay applications. A specialty subcontractor can separate actual cash receipts from retainage still due. Starter is $49 per month for 1 company and 3 accounts.
Builders with an equipment company
Reconcile the contractor and equipment company separately, including both sides of intercompany transfers. Business is $149 per month for 5 companies and 15 accounts. Compare the company and account limits on each plan.
CPA firms with contractor clients
Match each contractor client from their exports and statements, then return the clearing list and exceptions for review. Firm is $399 per month for 25 companies and 75 accounts. See bank reconciliation for accountants. Run one real month before paying.
Foundation Software bank reconciliation questions
How do you do a bank reconciliation in Foundation Software?
To reconcile a bank account in FOUNDATION, compare the statement with the cash account records, select each transaction that has cleared, investigate any difference, and record supported corrections before confirming that the adjusted bank balance agrees with the ledger for the same statement date.
Why won't my FOUNDATION bank reconciliation balance?
A FOUNDATION bank reconciliation can remain out of balance when bank fees or interest are missing from the books, a receipt is recorded in the wrong cash account, an opening balance differs, or a check or deposit has been cleared in the wrong statement period.
Can I import a PDF bank statement into Foundation Software?
We cannot confirm native PDF bank statement import into FOUNDATION, so ask Foundation support about your version and available options; BankReconciler can read the PDF alongside an Excel or CSV cash account export and return the matched items for you to select as cleared in FOUNDATION.
Does Foundation Software have bank feeds?
We cannot confirm a native bank feed for FOUNDATION, so check with Foundation support about availability for your version and bank; BankReconciler does not need a feed because it compares your downloaded statement with an exported cash account, GL detail or check register from FOUNDATION.
How do I reconcile a lender draw that covers several pay applications?
Reconcile a combined lender draw by identifying the recorded cash receipts covered by the remittance, checking that their total equals the bank credit, and clearing those receipts together in FOUNDATION after reviewing the proposed group, with any retainage still unpaid kept separate from cash received.
Is FOUNDATION or BankReconciler better for a contractor with 10 or more bank accounts?
For a contractor with 10 or more bank accounts, FOUNDATION remains the accounting system where cleared items are selected, while BankReconciler can help prepare the matching list across exported accounts when PDF statements, grouped deposits and older outstanding checks make manual comparison difficult to manage.
Know what to clear in FOUNDATION
Upload your statement and cash account export. Review the matched items and missing entries, then finish the reconciliation in FOUNDATION.