Reconciliation

Overview

The Reconciliation feature allows you to upload bank statements and automatically match transactions with your processed invoices. This helps you identify which invoices have been paid and track outstanding payments by comparing your bank statement transactions against your invoice database.

The system extracts transaction data from PDF or CSV files and attempts to match each expense transaction with existing invoices based on amounts, dates, and vendor information.

Uploading Statements

Managing Uploaded Statements

Uploaded statements appear in a list within the Statements section.

Statement List Display

• Bank Name: Automatically extracted from the PDF or CSV file
• Upload Date: Shows the date and time when the statement was uploaded
• Statement Period: Date range covered by the statement (when available)

Viewing Statement Details

Click on any statement row to view detailed transaction information, including:

• Matched Transactions: Expense transactions that were successfully matched to existing invoices
• Unmatched Transactions: Expense transactions that couldn't be matched to any invoice
• Transaction Summary: Total count of matched vs unmatched transactions

Transaction Matching

Automatic Matching

The system automatically attempts to match bank statement transactions with your invoices using:

• Amount Matching: Comparing transaction amounts with invoice amounts
• Date Proximity: Considering transactions near invoice dates
• Vendor Recognition: Matching transaction descriptions with vendor names
• Currency Consistency: Ensuring transactions and invoices use the same currency

Manual Matching

For unmatched transactions, you can manually create matches:

1. Click the swap icon next to an unmatched transaction
2. Select from invoices: You'll be redirected to the dashboard to choose the matching invoice
3. Confirm match: The transaction will be updated to show as matched

You can also convert matched transactions back to unmatched status using the same swap icon.

Export and Download Options

CSV Export

Export transaction data with the following information:

• Transaction status (matched/unmatched)
• Transaction description, amount, currency, and date
• For matched transactions: invoice filename and shareable URL

Original File Download

Download the original PDF or CSV file that was uploaded for your records.

Statement Management

Delete Statements

Remove uploaded statements and all associated transaction data when no longer needed.

Bank Name Correction

If the bank name was incorrectly extracted, you can manually correct it from the statement details view.

File Requirements

Supported Formats

• PDF Files: Text-based PDFs work best, though scanned PDFs are also supported
• CSV Files: Standard comma-separated format with transaction data
• File Size: Maximum 20 pages for PDF files

Extracted Information

The system extracts:

• Transaction Description: Details about each expense
• Amount: Transaction value
• Date: When the transaction occurred
• Currency: Automatically detected from the statement

Best Practices

For Better Matching Results

1. Ensure accurate invoice data: Make sure vendor names and amounts in your invoices are correct
2. Upload recent statements: The system matches against your current invoice database
3. Use consistent vendor names: Payments should reference recognizable vendor information
4. Process statements regularly: Stay on top of reconciliation for better cash flow tracking

Data Organization

• Review unmatched transactions: Regularly check for payments that couldn't be automatically matched
• Export data periodically: Download CSV reports for external accounting systems
• Delete old statements: Clean up processed statements to keep your workspace organized

Troubleshooting

Upload Issues

File won't upload:

• Ensure file is PDF or CSV format
• Check that PDF has fewer than 20 pages
• Verify file isn't corrupted or password-protected

No transactions extracted:

• The statement may only contain income transactions (which are filtered out)
• PDF text may not be readable (try requesting a text-based statement from your bank)

Matching Problems

Low match rates:

• Verify vendor names in invoices match transaction descriptions
• Check that amounts match exactly between statements and invoices
• Ensure transactions fall within reasonable date ranges of invoice dates

Incorrect matches:

• Use the swap icon to convert incorrect matches back to unmatched
• Manually review and correct matches as needed