Powerful Features for
Effortless Reconciliation
Discover how ReconcileIQ transforms hours of manual reconciliation into seconds with our suite of intelligent features designed for accuracy and speed.
Smart Matching
Intelligently match transactions, even complex ones.
Easy File Handling
Supports CSV/XLSX from any bank or accounting software.
Instant Reporting
Generate clear reconciliation reports in seconds.
LedgerIQ Insights
Turn reconciled data into actionable financial analytics.
Core Reconciliation Engine
Smart Transaction Matching
Our proprietary matching engine intelligently identifies corresponding transactions between your bank statement and accounting records, even when:
- Timing Differs: Matches transactions with different posting dates.
- Descriptions Vary: Recognises the same transaction despite different labels.
- Batch vs. Individual: Matches grouped transactions to individual components.
- Fuzzy Matching: Suggests likely matches with confidence scores.
Intelligent File Mapping
Upload your files and let ReconcileIQ automatically detect and map the transaction data columns.
- Auto Column Detection: Smart identification of date, amount, description.
- Interactive Mapping: Click/drag to adjust mappings if needed.
- Handles Complex Formats: Works with various dates and amounts.
Enterprise-Grade Security
Your financial data is sensitive. We protect it with the highest security standards in the industry.
- Bank-Level Encryption: AES-256 for data in transit and at rest.
- Temporary Processing: Files deleted minutes after processing.
- GDPR Compliant: Full compliance with data protection regulations.
Advanced Reconciliation Tools
Advanced Matching Logic
Handle even the most complex reconciliation scenarios with our sophisticated matching algorithms.
- Batch Transaction Matching: Intelligently handle many-to-one matches.
- Confidence Indicators: See match reliability with % scores.
- Fuzzy Description Matching: Identify similar text variations.
Results Analysis & Resolution
Quickly identify and resolve remaining discrepancies via the results screen.
- Missing Transaction Detection: Clearly shows unmatched bank items.
- Extra Transaction Identification: Highlights unmatched book items.
- Pattern Analysis: Identify recurring issues or bookkeeping opportunities.
Intelligent Suggestion Engine
For transactions that can't be automatically matched, our system suggests the most likely candidates.
- Confidence Scoring: Suggestions ranked by probability.
- One-Click Acceptance: Approve suggestions instantly.
- Smart Filtering: Quickly search unmatched items.
Reporting & Compatibility
Comprehensive Reporting
Generate detailed reports instantly with complete visibility into your reconciliation.
- Reconciliation Summary: Overview of matched/unmatched items.
- Exception Reports: Detailed breakdown of discrepancies.
- Visual Representations: Charts for at-a-glance status.
Flexible Export Options
Export your reconciliation data in multiple formats to meet your specific needs.
- PDF Reports: Professional reports for records or distribution.
- CSV/Excel Exports: For further analysis in spreadsheets.
- Flexible Scope: Export current view or the complete dataset.
Broad Compatibility
Works seamlessly with standard file exports from virtually any financial institution or accounting platform.
- Supported Formats: CSV, Excel (XLS, XLSX).
- All Major Banks: HSBC, Barclays, Lloyds, Monzo, Revolut, etc.
- All Accounting Software: Xero, QuickBooks, Sage, FreshBooks, etc.
- Payment Processors: PayPal, Stripe, and others.
Coming Soon: Direct API Integration
We're actively developing direct API connections for even smoother workflows with banks and accounting software. Stay tuned!
Go Beyond Reconciliation with LedgerIQ
Unlock powerful financial insights from your reconciled data. Turn numbers into actionable intelligence.
Basic LedgerIQ (Pro+)
Track key metrics: revenue trends, expense breakdowns, profit margins via intuitive dashboards.
- Visualize core financial trends.
- Understand expense categories.
- Track performance metrics (ROA, ROE).
Advanced LedgerIQ (Business+)
Unlock deeper insights: seasonality, predictive cash flow, multi-dimensional analysis, break-even points.
- Uncover seasonal patterns.
- Predict future cash flow trends.
- Calculate break-even points.
- Analyse expense correlation.
Feature Comparison
| Feature | Free | Essential | Pro | Business | Enterprise |
|---|---|---|---|---|---|
| Transaction Credits/Month | 200 | 1,000 | 2,500 | 20,000 | 150,000 |
| Smart Transaction Matching | |||||
| CSV/Excel File Support | |||||
| Basic Reporting | |||||
| Fuzzy Matching | |||||
| Batch Matching | |||||
| Pattern Analysis | |||||
| Basic LedgerIQ | |||||
| Advanced LedgerIQ | |||||
| Premium Client Subscriptions |
Features Frequently Asked Questions
Our proprietary matching algorithm uses a combination of exact and fuzzy matching techniques to identify corresponding transactions between bank and bookkeeping records. It considers multiple factors including transaction amounts, date proximity (accounting for clearing delays), description similarity (using advanced text pattern recognition), and transaction context.
The algorithm can also handle complex scenarios like batched payments, split transactions, and recurring payments with varying descriptions. For transactions that cannot be matched with high confidence, our suggestion engine presents likely matches with confidence indicators for quick human verification.
ReconcileIQ supports the most common file formats for both bank statements and bookkeeping records: CSV (comma-separated values) and Excel files (XLSX, XLS).
Our intelligent field mapping system automatically identifies transaction date, amount, and description fields, handling various date formats and amount representations. Virtually all banks and accounting software allow export to these formats, making ReconcileIQ compatible with any financial system you use.
While basic reporting focuses on reconciliation status (matched/unmatched items, summaries, exceptions), LedgerIQ provides advanced financial analytics and insights derived from your reconciled data.
LedgerIQ offers interactive dashboards, trend analysis, cash flow insights, seasonality detection, break-even analysis, and performance metrics tracking. It transforms transaction data into actionable business intelligence.
Basic LedgerIQ is included with Pro+ plans, while Advanced LedgerIQ (with break-even, seasonality, correlation) is available with Business+ plans.
Direct API integrations with banks and accounting software platforms are currently under development and will be available soon.
In the meantime, ReconcileIQ works seamlessly with any platform that allows export to CSV, XLS, or XLSX format—which includes virtually all financial systems. We'll announce when our API becomes available.
Security is paramount. We employ bank-level AES-256 encryption for all data in transit and at rest. Files are processed temporarily and automatically deleted within 5 minutes – we don't permanently store your financial transaction data.
Our systems use secure cloud infrastructure, undergo regular security audits, and are fully GDPR compliant. We only process the data necessary for reconciliation.
Have more questions about our features?
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