What the reconciliation is doing
The calculator starts with the opening inventory, newly discovered assets, income or other receipts, and gains. Those amounts create the total property and receipts that must be explained during the accounting period.
It then subtracts debts, administration expenses, taxes, beneficiary distributions and losses to calculate the expected assets remaining. The entered ending assets are compared with that expected balance. A difference other than zero signals that one or more entries may be missing, duplicated or entered in the wrong amount.
Use it before a beneficiary distribution
Reconcile the estate first, then move to the Beneficiary Distribution Calculator to compare each beneficiary's target share with prior distributions. For a broader residuary-estate estimate, use the existing Estate Distribution Calculator.
Frequently asked questions
What does an estate accounting reconciliation calculator check?
It checks whether the assets and receipts charged to the estate are fully explained by expenses, debts, taxes, distributions, losses and the assets still on hand at the end of the accounting period.
What should a zero reconciliation difference mean?
A zero difference means the amounts entered into the calculator reconcile mathematically. It does not by itself establish that the entries are legally proper, complete, supported by source documents or classified correctly.
Can I include newly discovered estate assets?
Yes. Enter additional assets discovered during administration separately from the opening inventory so the calculator can include them in total accountable property.
How should investment gains and losses be entered?
Enter realized or accounting gains in the gains field and losses in the losses field. The calculator treats gains as an increase in accountable assets and losses as an amount that explains part of the reduction in estate property.
Does this replace a fiduciary or probate accounting?
No. It is a reconciliation worksheet. Court forms, trust instruments, wills, statutes, accounting standards and local practice may require classifications, schedules or disclosures not represented here.