Bank Reconciliation for Colombian Condominiums

Bank reconciliation in a Colombian condominium compares bank transactions with accounting records to explain the differences. The administrator remains responsible for the accounting even when an accountant prepares the reconciliation (2022-0602; 2024-0443).

Matching statements with amounts due by unit helps identify administration fee payments. The bank close also needs to cover other transactions. This guide proposes a monthly control routine. It does not claim a single legal closing deadline for all condominiums (propiedad horizontal) (PH).

Who it applies to

Who prepares, reviews and takes responsibility

Building administrator (administrador): remains responsible for the condominium's accounting under article 51 of Ley 675.
Accountant (contador): performs the agreed work. Concept 2024-0443 concerns small and medium businesses with contracted accounting services. It links responsibility for preparing reconciliations to the agreed duties. The agreed work must allow for support staff. The accountant must supervise that work and retain professional responsibility.
Statutory auditor (revisor fiscal): controls operations where this role exists. Its function is separate from management. Article 56 requires the role in commercial or mixed-use complexes. In residential buildings or complexes, the assembly can choose to have it.
Administration council (consejo de administración): where it exists, acts within the bylaws so the condominium meets its purposes. Guidance Document 15 describes its oversight of the administrator. This does not make it the preparer of the accounting entries.

Sources for these roles: Ley 675 de 2001, arts. 51, 55–57 and CTCP, DOT 15, page 15. A written allocation of work can name who provides evidence, prepares the close and reviews adjustments. For the distinction between the building administrator and an owner’s manager, see hiring a property manager.

Steps

A monthly bank reconciliation procedure

Set the closing date for each bank account.
Use the same period in the statement and ledger.
Compare opening balances with the previous close.
Review the items that remained pending.
Keep their original dates.
Match the period's transactions.
Include receipts, payments, transfers and bank notes.
Group differences by cause.
Separate missing entries, errors and unidentified receipts.
Investigate each difference with supporting records.
Record the explanation and missing evidence.
Prepare any adjustments for accounting review. Do not create an unsupported entry to force equal balances.
Check closing balances after approved adjustments. Explain the items that still separate the bank and book balances.
Record who prepared and reviewed the reconciliation.
File the close with its evidence and pending-items register.

This sequence is a proposed workflow, not an official form. Concept 2023-0218 calls for an analysis of differences before deciding the entries (2023-0218). For receipts that cannot be linked to a unit, see unidentified PH payments.

Practice with sample data

Try the condominium payment review demo with sample data (in Spanish). The demo runs in your browser and saves no files or decisions on a server. Its session stays only in memory and clears on reload or close. Downloads remain on your device. It does not certify payments or make accounting entries.

Costs and taxes

Scope and costs

This guide sets no professional fee. An agreed scope can state the bank accounts, periods to review, older pending items and available records. Separate preparation of the close from review and statutory audit work.

Documents

Records for the close

This suggested working list follows the CTCP's comparison of bank records with books and its guidance on payment evidence:

The full statement for each condominium bank account.
The bank ledger with the same closing date.
The previous reconciliation and its pending items.
Receipts, payment vouchers and bank documents.
Amounts due by unit and proof sent by payers.
Accounting policies and the agreed scope of work.

For the fees shown on unit statements, see building administration fees.

Guidance Document 15 says receipts need a cash receipt or equivalent record. For direct bank payments, it refers to deposit slips or bank documents (CTCP, DOT 15, page 37).

Common mistakes

Mistakes that leave a close incomplete

Comparing only the closing balance can hide pending transactions. Matching only receipts leaves out payments and bank charges. Assigning a receipt by amount alone can credit the wrong unit. The proposed process checks for these risks without promising to remove them.

The pending-items register can show the cause, missing evidence and person responsible for follow-up. An unresolved difference does not by itself prove overdue debt. Before reviewing interest, see late interest on administration fees.

Sources

Opened on 25 October 2026: Ley 675 de 2001, arts. 51, 55–57; CTCP, DOT 15; CTCP concepts 2022-0602, 2024-0443 and 2023-0218. CTCP guidance does not resolve individual cases.

Educational information, not legal or tax advice. This is not accounting advice. Ask a Colombian lawyer or certified public accountant about your case.

Get the free sample checklist.

Frequently asked questions

Is reconciliation just matching receipts to unit balances?

Matching receipts to unit balances is part of the review. Bank reconciliation also compares payments, transfers and other bank transactions with the books.

Who is responsible for PH accounting?

The administrator keeps that responsibility under article 51 of Ley 675. The accountant contract should define preparation and review work.

Is there a single legal monthly closing deadline?

This guide proposes a monthly control routine. The cited sources do not set a single closing day for all PH here. Check the bylaws, policies and contract.

Does the statutory auditor replace the accountant?

No. The statutory auditor has control duties separate from management and accounting preparation. Whether the role exists depends on the use of the complex and the applicable rules.

Own property in Colombia, or planning to buy? The Colombia Owner Kit (US$79) covers the dates, documents and questions owners face. See what's in it.