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Accounts Payable | Bank Reconciliation

Bank statements imported daily. Auto-matched, every morning.

Connected Banking pulls statements daily from ICICI, HDFC, Axis, Yes, Kotak, SBI and more. Payments and receipts auto-match against bank lines on amount, UTR and date. Bank charges, GST on charges and forex differences auto-categorised. Pending items dashboard surfaces the gap.

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Bank Reconciliation

How it works

From statement download to reconciled, automatically.

Step 01

Statements pulled daily

Connected Banking APIs or MT940 / CSV imports run every morning across all your bank accounts and entities.

Step 02

Auto-match on amount, UTR and date

Bank lines match against scheduled payments and posted receipts. Tolerance windows handle bank charges and forex rounding. Match confidence shown per line.

Step 03

Charges and forex auto-categorised

Bank charges, GST on charges, forex spread and intra-bank transfers categorised automatically to the right GL.

Step 04

Pending items dashboard

Unmatched lines, partial matches and aged items surface on a single screen. Drill from a bank line to the suspected source bill or receipt.

What the system does

Capability, input, output.

  • Daily statement pull

    Input
    Connected Banking API or MT940 / CSV
    Output
    All bank lines for the period

  • Match engine

    Input
    Bank line + payment / receipt register
    Output
    Match status with confidence score

  • Charge categorisation

    Input
    Bank line description + amount range
    Output
    GL coding for charges, GST, forex

  • Cheque clearing tracker

    Input
    Issued cheque + bank clearing line
    Output
    Outstanding-cheque report

  • Multi-bank, multi-entity

    Input
    Bank account + entity master
    Output
    Per-account reconciliation; group view

Compliance + integrations

Connected Banking, no manual statement download.

API-led pulls from major Indian banks bring statements into your books before the AP team is at their desk. The auto-match handles 80 to 90% of lines without intervention; the rest land on a focused queue.

Regulations we work within

  • Companies Act, Schedule III

    Bank balance reported with reconciled and unreconciled splits.

  • Rule 11(g), Companies Act

    Reconciliation adjustments captured with edit trail.

Connects to

  • ICICI Bank Connected Banking
  • HDFC Bank Connected Banking
  • Axis Bank Connected Banking
  • Yes Bank Connected Banking
  • Kotak Mahindra Connected Banking
  • SBI Corporate Banking
  • MT940 / CSV Manual upload fallback

Bank Reconciliation FAQ

What buyers ask.

Which Indian banks are integrated?

ICICI, HDFC, Axis, Yes, Kotak Mahindra and SBI via Connected Banking APIs. Other banks supported via MT940 / CSV import on a daily schedule. Coverage adds quarterly as bank APIs become available.

How are foreign currency accounts handled?

Multi-currency bank accounts are first-class. FX revaluation runs at period end. Forex spread on bank lines auto-categorises to the gain or loss account. Reporting in INR or any base currency.

What about cheque payments still in float?

Issued-but-uncleared cheques sit on the outstanding-cheque report. The bank reconciliation matches them when they clear; the bill stays paid in the books either way.

Can we manually adjust the bank reconciliation?

Yes. Manual adjustments (charges your bank forgot to label, return entries, deposit-in-transit) are supported with reason capture. Every manual adjustment is in the audit trail.

More in Accounts Payable

Related features

Connect your bank. See the auto-match by tomorrow.

Connect Connected Banking for one bank, free. Tomorrow morning, the auto-match screen shows what cleared, what is pending and what needs your call.

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