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Finovra AI

Bank reconciliation

In development

Bank reconciliation where every match has a reason

A bank reconciliation proves that the cash in your books agrees with the bank, and explains any difference. Finovra's reconciliation module is in development. It will propose matches, never hide what it couldn't match, and leave the final decision on low-confidence matches with a person.

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What a reconciliation has to show

At period end, the bank statement balance and the cash account balance usually differ for known reasons: deposits in transit, outstanding payments, bank fees not yet recorded, or errors. A reconciliation lists those items until the two balances agree.

The items that matter most are the ones that don't match. A reconciliation tool that quietly force-matches transactions to reach a zero difference hides exactly what a reviewer needs to see.

The planned workflow

  1. Step 1

    Import

    Bring in CSV or OFX statements. Re-importing the same file does not create duplicates.

  2. Step 2

    Propose

    Bank lines are matched to ledger entries by amount, date and reference, each with a stated reason.

  3. Step 3

    Review

    A person confirms proposed matches and resolves exceptions, or records missing entries.

  4. Step 4

    Reconcile

    The report shows statement balance, book balance and every reconciling item.

Planned reconciliation features

In development

  • Duplicate-safe imports

    Each imported line is fingerprinted so the same statement can't load twice.

  • Explained exceptions

    Every unmatched line says why no match was found.

  • Evidence kept

    Matches keep the statement reference and who confirmed them.

  • USD and CAD accounts

    Bank accounts reconcile in the currency of the account.

  • Live bank feeds

    Planned after file import, for US and Canadian banks.

Built today underneath

Core engine built

  • Account activity

    Opening balance, every posted line and the running balance for any cash account and date range.

  • Period locks

    Once reconciled and closed, a month can be locked against new entries.

  • Reversals

    Errors found during reconciliation are corrected by reversal, with a link to the original.

Related

Bring a sample statement

We'll walk through account activity on sample books and the matching workflow in development.

Last reviewed against the product on .

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