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Glossary · Finance and compliance

Bank reconciliation

Bank reconciliation is the check that the bank’s transactions match the accounting records: every receipt and every payment on the statement is paired with its invoice, its receipt or its ledger entry.

Bank reconciliation: the details

Its purpose is to catch what doesn’t add up: unidentified receipts, duplicate payments, unrecorded fees, wrong amounts. Done by hand, it means ticking the statement against the ledger line by line. The easy cases—same amount, same reference—are the majority; the time goes into the hard ones: a customer paying three invoices in one transfer, a partial payment, a description that says nothing.

Automating it has two parts. Data intake: receiving transactions through a direct bank connection or open banking instead of downloading files. And matching: exact rules for the obvious and, for the rest, a reasoned proposal that a person accepts or corrects. What the system doesn’t recognize should stay visible, never be forced.

Bank reconciliation in a project

In our projects, rules resolve the exact matches, the AI proposes the rest with its explanation, and anything doubtful goes to a review queue. Every match is logged with who approved it.

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