Bank reconciliation is one of the most important accounting tasks in property management. It ensures that the transactions recorded in Propra match exactly what has cleared your bank account, keeping your books accurate, your owners informed, and your business compliant with provincial regulations that require reconciliations to be completed within five weeks of month end.
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Before starting any accounting in Propra, it is critical that your opening balances are set up correctly. Your opening numbers should come directly from your trial balance from your previous accounting system. Having the correct opening balance in Propra for your first bank reconciliation is essential — without it, your numbers will always be off and every reconciliation going forward will be affected.

If you are unable to provide a trial balance, you can create a journal entry for your opening balance amount. This entry will appear in your bank reconciliation as the previous statement amount, allowing you to move forward with your accounting. Each property must have its own individual journal entry — a single bulk entry will not distribute balances at the property level and will cause ongoing reconciliation issues.

To begin your account reconciliation go to Accounting Tasks and select the Account Reconciliation task

When starting a new bank reconciliation, your statement date and opening balance amount must come directly from your bank statement. These figures need to match your statement exactly — do not estimate or adjust these numbers.

If you are on the Professional plan, you can upload your bank statement directly into Propra and the system will automatically attempt to match your uploaded transactions to the ones you have already posted in Propra, saving significant time.

Once inside your reconciliation, you will see the following tabs:

Recommended — These are Propra's suggested matches based on amounts, dates, and transaction types. Always start here as these are the most likely correct matches.

Unmatched — Transactions that Propra was not able to find a match for. If you do not want to use a recommended match, you can find and manually select a match from this tab.

Outstanding Bills — Use this button to select unpaid bills that need to be posted as paid. Once you select and post the outstanding bill the status will change to Paid and the transaction will be matched in your bank rec.

Add Entry — Use this button to add entries while in the bank reconciliation task.

Refresh — Use this button to make sure your reconciliation is fully up to date before reviewing or finalizing.

Deposit Transactions — A full list of all deposits recorded in Propra for the period.

Withdrawals — A full list of all withdrawals recorded in Propra for the period.

Recommended Matches Start with the Recommended tab and work through each suggested match. If the match looks correct, confirm it. If it does not look right, move on and address it manually.

Unbalanced Items An unbalanced item means Propra believes it has found a match but something is slightly off — most commonly the amount. Select the recommended match and review the amounts carefully before confirming.

Needs Review These are items where Propra has found two or more transactions with the same date or amount and is not sure which one to match. Click into the item, use the search bar to select the correct match from the recommended options, or navigate to the Unmatched tab to find the right transaction manually.

Unmatching a Transaction If you have matched something incorrectly, use the orange Undo button to unmatch it. The transaction will return to the deposit or withdrawal page so you can rematch it correctly.

Once all transactions have been matched, your reconciliation balance should be at zero. Before closing off, verify that:

Provincial regulations require that your bank reconciliation be reviewed and signed off each month. To complete this process in Propra click on the Printer Icon in the top right corner:

If you need to make any corrections before finalizing, use the Edit function to update the statement date or statement amount.

If you notice entries are missing from your bank reconciliation, it may be due to adding a property or owner to the bank group after the reconciliation was started.

When this happens, the reconciliation will not automatically update to include those newly added properties or owners.

To resolve this:

Once refreshed, the missing entries should appear in your reconciliation.

If transactions are not appearing as expected in your bank reconciliation, it’s important to review the details of the entry itself.

Make sure the transaction includes:

If any of these details are incorrect or missing, the transaction may not show up in the reconciliation. Updating the entry with the correct information should resolve the issue.

If you need to undo a completed bank reconciliation, there are a few important rules to follow.
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Repeat this process month-by-month if you need to go further back.

If January, February, and March are all reconciled:

Bank reconciliations are sequential and dependent on each other.

Each month’s reconciliation:

Because of this, undoing an earlier month without reversing later ones would create inconsistencies in balances and transaction history.

Requiring users to undo reconciliations in reverse order ensures: