BANK RECONCILIATION · CASH VERIFICATION

Does Our Cash Balance Match the Bank?

AI automatically matches every bank transaction with your GL entries, flags unmatched items, and identifies posting errors—so you know your cash balance is accurate.

Automate Bank Recs → Book a Demo
5 min
Setup Time
2-3 hrs
Saved per Month
3-8%
Have Red Flags

What It Tests

Automatic Matching

AI automatically compares every transaction from your bank (via direct API connection) with every GL entry from your accounting software (QuickBooks, Xero, NetSuite, etc.).

Matching criteria: Date (±3 days configurable), Amount (exact or ±$1), Description similarity, Transaction type

What It Catches

  • •Missing GL entries: Bank transactions that were never recorded in your accounting software
  • •Uncleared transactions: GL entries that haven't cleared the bank yet (timing differences)
  • •Amount discrepancies: Bank transaction amount doesn't match GL entry amount
  • •Duplicate GL entries: Same bank transaction recorded multiple times in your books
  • •Posting errors: Transactions recorded to wrong GL account
  • •Date mismatches: Transaction dates that don't align within tolerance window

Data Sources Required

1. Your Accounting Software

QuickBooks, Xero, NetSuite, Sage, FreshBooks, Wave, Zoho Books

Access needed: Read-only to GL transactions

2. Your Bank Connection

10,000+ banks via Plaid/Yodlee direct API

Access needed: Read-only to transaction history

How It Works

1

Connect Your Data Sources

Link your accounting software (QuickBooks/Xero/NetSuite) and your bank via secure read-only API. AI automatically pulls GL transactions and bank statements. No manual exports needed.

2

AI Performs Automatic Matching

AI compares every bank transaction with GL entries using smart matching: date (±3 days), amount (exact or ±$1), description similarity, and transaction type.

Analyzing 2,891 bank transactions...
✓ Matched 2,803 transactions automatically
⚠️ 44 timing differences (checks not cleared)
🔴 3 exceptions requiring investigation
→ 99% match rate
3

AI Flags Exceptions

When transactions don't match, AI categorizes them and sends you a daily digest with only the items that need attention.

⚠️ 3 High-Priority Exceptions
1. Missing GL entry: $1,250 deposit on 10/15
2. Duplicate payment: $875 to Acme Corp
3. Amount mismatch: Bank $500, GL $50
Recommendation: Review and create adjusting entries
4

You Review & Resolve (10-15 min)

Click each exception to see AI's explanation and recommended action. Mark as resolved or create adjusting entry. Export audit-ready reconciliation report with one click.

Real-World Use Cases

Daily Reconciliation

Before: Reconcile 4 bank accounts manually at month-end. Takes 2-3 days. Find errors after close.

After: Daily reconciliation runs automatically. Review 10-15 minute daily digest. Fix errors before they compound. Month-end rec takes 20 minutes.

Unmatched Transactions Alert

Scenario: $8,500 bank withdrawal appears on Friday but has no matching GL entry.

Result: Saturday morning reconciliation flags exception: "Bank withdrawal $8,500 with no GL entry." Alert sent. You investigate Monday to determine if it's missing entry, wrong account, or needs further review.

Multi-Entity Reconciliation

Challenge: Reconcile 12 bank accounts across 3 legal entities monthly.

Solution: Set up 12 bank rec procedures (one per account). All run automatically. Single dashboard shows status of all 12. Time saved: 15 hours/month.

Audit Preparation

Auditor Request: "Provide bank reconciliations for all 12 months with proof of 100% testing."

Response: Export 12 monthly reports in 2 minutes. Each shows: all transactions tested, exceptions identified, resolution status, complete audit trail.

Traditional vs. Continuous Bank Reconciliation

Traditional Monthly Rec

  • ❌Done once per month at month-end
  • ❌Wait for bank statement to arrive
  • ❌Download PDF, export GL to Excel
  • ❌Manually match in spreadsheet
  • ❌Takes 3-4 hours per account
  • ❌Find errors after close complete
  • ❌Recreate work papers for auditors
Total Time:
12-16 hours/month
for 4 bank accounts

Continuous Auto Rec

  • ✅Runs daily at 6 AM automatically
  • ✅Direct bank API (no statement needed)
  • ✅AI fetches data automatically
  • ✅100% automated matching
  • ✅Review 10-15 min daily digest
  • ✅Fix errors before they compound
  • ✅Export audit trail in 1 click
Total Time:
2-3 hours/month
for 4 bank accounts

Time Savings Calculator

Time Saved
10-13 hrs/mo
Value at $75/hr
$750-975
Annual Value
$9-12K

Plus: Earlier detection of posting errors prevents month-end close delays

Set Up Your First Bank Reconciliation in 5 Minutes

Start with one bank account free. No credit card required.

Start Free Bank Rec → Book a Demo