What it is
Bank Reconciliation Automations are AI-powered workflows that automatically match financial transactions from bank statements with accounting system records. Instead of finance teams spending hours manually comparing entries, the system detects matches, highlights discrepancies, and generates reconciliation reports in real time.
Why it matters
Manual reconciliation is one of the most time-consuming tasks for finance teams, often leading to missed errors, fraud risks, and delayed reporting. Automation speeds up reconciliation, ensures accuracy, and provides greater financial transparency — giving businesses confidence in their books and compliance.
How it works
- Bank feeds and accounting system data are imported automatically.
- AI matches deposits, withdrawals, payments, and receipts with ledger entries.
- Duplicates, missing entries, and mismatches are flagged instantly.
- Finance managers receive daily/weekly reconciliation reports.
- Automated workflows resolve recurring mismatches (e.g., recurring fees).
- Exceptions are escalated for manual review with suggested resolutions.
