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.
What the system does
Capability, input, output.
| Capability | Input | Output |
|---|---|---|
| Daily statement pull | Connected Banking API or MT940 / CSV | All bank lines for the period |
| Match engine | Bank line + payment / receipt register | Match status with confidence score |
| Charge categorisation | Bank line description + amount range | GL coding for charges, GST, forex |
| Cheque clearing tracker | Issued cheque + bank clearing line | Outstanding-cheque report |
| Multi-bank, multi-entity | Bank account + entity master | Per-account reconciliation; group view |
-
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.
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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.