CLOSING WAS SO CLOSE.
Was it naiveté? You thought you were just about done. Now you have to compare statements line-by-line. Or do you?
Auto Bank Rec extracts transactions from statements and compares them to what’s in your clients' Smart Connect/General Ledger. Any outliers that don’t match between the two are surfaced for you to review and finalize. Once finalized, Auto Bank Rec generates a Reconciliation Report. Neat and tidy.
Simple side-by-side comparisons.
Discrepancies between the GL and statement or GL and Smart Connect are surfaced and assigned a status—transactions with no match, transactions with a possible match, and transactions with a confident match. See them side-by-side, confirm or make adjustments, and you're done. No grueling searches or complex workflows. Just easy reconciliation.
FREQUENTLY ASKED QUESTIONS
You have burning questions. We have a fire extinguisher.
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What is Auto Bank Rec?
The reconciliation of bank and credit card accounts can be a tedious, highly manual process. Auto Bank Rec automatically finds and surfaces discrepancies between your clients' statements and the GL, or your clients' Smart Connect feed and the GL. Each discrepancy is then compared to find matches, which are categorized as “Confident Match,” “Possible Match,” or “No Match.”
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What can I do if the statement isn't ready yet?
The platform automatically uses Smart Connect throughout the month to reconcile the general ledger. Once a statement is available, the platform will use it to run a statement reconciliation.
If you will not have access to a statement, then the Smart Connect-based reconciliation will be your default. -
Does Auto Bank Rec learn as it goes?
Yes! As users confirm or adjust transactions, the platform learns from the interaction. As it's used, Auto Bank Rec will get better and better at surfacing confident matches for your transactions.
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