When the loan balance in your books doesn’t match your statement, the culprit is almost always timing — a payment that’s left your bank but not yet posted, or vice versa, across a weekend or month-end. Here’s how to confirm that before raising anything.
Find the timing difference
- List any repayments or drawdowns near the cut-off date.
- Check the date each one cleared your bank versus the date it posted to the statement.
- A payment that’s cleared your bank but not yet on the statement (or the reverse) is a timing difference, not an error — it self-corrects in the next period.
If it isn’t timing
If, after allowing for in-transit items, a genuine difference remains, raise it with the date, amount and description. Because interest is fixed up front and simply calculated, real discrepancies are uncommon — but we’ll trace and fix any that exist.
Your facility is priced with simple interest and the figures fixed up front on your Key Information Sheet, so nothing here changes what you owe by surprise — it only changes how you view, manage or evidence it.
See also: How to reconcile a statement in your accounting software, Using statements to reconcile with your bank, How to check a statement line you don’t recognise.