User Guides
Comprehensive guides to help you make the most of ReconcileIQ's powerful reconciliation features.
Comprehensive guides to help you make the most of ReconcileIQ's powerful reconciliation features.
To get started with ReconcileIQ, you'll need to create an account. Follow these steps:
ReconcileIQ offers several plans to meet different reconciliation needs:
You can start with the Free plan and upgrade at any time as your needs grow.
Note:
Transaction credits are consumed for each line in your uploaded files and do not roll over to the next month.
ReconcileIQ supports multiple currencies. You can set your default currency in your user settings:
This will be used as the default currency when processing your files, but you can also specify a different currency for each reconciliation if needed.
Before starting your first reconciliation, you'll need to prepare two files:
Important:
Make sure both files cover the same date range for accurate reconciliation. Each file should have columns for date, amount, and description.
Once your files are prepared, follow these steps to upload them:
After uploading your files, you'll be taken to the field mapping screen:
Pro Tip:
Proper column mapping is crucial for accurate reconciliation. Take the time to verify that date, amount, and description fields are correctly identified in both files.
Once your fields are mapped, the system will process your files and show the reconciliation results:
The ReconcileIQ dashboard is designed for simplicity and efficiency:
The results interface is organized into tabs for easy navigation:
Each section is designed to help you quickly identify and resolve discrepancies in your reconciliation.
Familiarize yourself with these key functions in the interface:
Tip:
Use the search function to quickly locate specific transactions when working with large datasets.
ReconcileIQ supports these file formats for both bank statements and accounting records:
Note:
For best results, use CSV or Excel formats exported directly from your bank or accounting software.
For successful reconciliation, your files should include these key columns:
ReconcileIQ will attempt to identify these columns automatically, and you can adjust the mapping if needed.
Be aware of these limitations when uploading files:
Important:
If your file exceeds your plan's row limit, you'll need to upgrade your plan or split your reconciliation into smaller periods.
Most banks allow statement exports in CSV or Excel format:
Tip:
For specific instructions on exporting from your bank, click the "Instructions" button on the ReconcileIQ upload page and select your bank from the dropdown.
Follow these general steps to export from your accounting system:
Tip:
For specific instructions on exporting from your accounting software, click the "Instructions" button on the ReconcileIQ upload page and select your software from the dropdown.
Once you have both files, upload them to ReconcileIQ:
Important:
Make sure you upload the correct file to each section. Mixing up bank and accounting files will lead to incorrect reconciliation results.
After uploading your files, the mapping modal will appear:
If the automatic mapping isn't correct, you can adjust it:
Pro Tip:
The mapping interface is fully interactive. You can drag column mappings from anywhere on the screen, including from above the header section.
In the mapping modal, you can also specify the currency for your files:
Note:
Both files should use the same currency. If you need to reconcile accounts in different currencies, you may need to convert them first.
Once you're satisfied with the mapping:
Important:
Taking the time to ensure correct mapping will lead to more accurate reconciliation results and save you time in the long run.
After processing, you'll be taken to the results screen:
This tab shows transactions that appear in your bank statement but not in your accounting records:
Tip:
Export this list to add these transactions to your accounting system. Once added, you can re-run the reconciliation to confirm they've been addressed.
This tab shows transactions that appear in your accounting records but not in your bank statement:
Important:
Not all extra transactions need to be removed from your books. Some may be legitimate entries that haven't cleared the bank yet.
This tab provides visual analysis and insights about your reconciliation:
Use this tab to get a high-level understanding of your reconciliation status.
ReconcileIQ provides fuzzy matching suggestions for unmatched transactions:
Note:
Fuzzy matching is available on Essential plans and above. It helps identify transactions that might match despite differences in dates or descriptions.
For Pro plans and above, batch matching helps with complex scenarios:
Pro Tip:
Batch matching is particularly useful for businesses that process multiple payments as a single bank transaction or vice versa.
To handle transactions missing from your books:
Tip:
For recurring transactions that consistently appear as missing, consider setting up automated rules in your accounting software.
For transactions in your books but not your bank statement:
Important:
Always verify that a transaction is truly erroneous before removing it from your accounting system.
The Pattern Analysis tab helps identify recurring issues in your reconciliation:
Note:
Pattern Analysis is available on Pro plans and above.
Here are common patterns identified and how to address them:
For each pattern, the system suggests potential solutions to streamline future reconciliations.
Use pattern analysis to improve your accounting processes:
Pro Tip:
Taking time to address the patterns identified can dramatically reduce manual reconciliation work in the future.
LedgerIQ is our financial analysis module, available on Pro plans and above:
Note:
Basic LedgerIQ features are available on Pro plans and above.
LedgerIQ Basic provides these key financial insights:
Each section can be expanded to view detailed information and visualizations.
To make the most of LedgerIQ Basic insights:
Pro Tip:
Pay particular attention to the DuPont analysis, which breaks down your return on equity into components that can reveal opportunities for improvement.
LedgerIQ Advanced, available on Business and Enterprise plans, provides deeper financial insights:
Note:
These advanced features are only available on Business and Enterprise plans.
The Revenue Forecast tool provides predictive insights:
Use these projections for budgeting, planning, and setting financial goals.
The interactive Break-Even Analysis tool helps you understand your financial requirements:
Pro Tip:
Try different variable cost percentages to see how changes in your business model might affect profitability.
These tools help you understand spending patterns and identify issues:
These insights can help optimize spending and identify potential areas for cost reduction.
ReconcileIQ offers these reporting options:
Reports can be viewed in the web interface and exported for external use.
To generate a PDF report of your reconciliation:
Note:
PDF reports include the visualizations and data tables visible in the current view.
ReconcileIQ reports include these key elements:
These reports can be shared with team members or kept for your records.
In addition to PDF reports, you can export data in CSV format:
Tip:
CSV exports are particularly useful when you need to add missing transactions to your accounting system, as the data can often be imported directly.
Here are common ways to use your exported data:
Important:
Always verify that the data format meets your requirements before attempting to import it into other systems.
Understanding ReconcileIQ's data retention policies:
Important:
Always export your results before closing your browser session, as they cannot be retrieved afterward.
If you're having trouble uploading files:
Tip:
If your file is too large, try exporting a smaller date range or splitting it into multiple files.
If you're experiencing issues with column mapping:
Important:
Accurate column mapping is crucial for successful reconciliation. Take time to verify each mapping before proceeding.
If you're getting unexpected matching results:
Tip:
If many transactions aren't matching, consider upgrading to a plan with fuzzy matching for better results.
Here are explanations and solutions for common error messages:
Error: "File format not supported"
Solution: Ensure your file is CSV, XLS, or XLSX format. Other formats are not supported.
Error: "Required columns not found"
Solution: Your file must contain date, amount, and description columns. Check that these exist and are properly mapped.
Error: "File exceeds row limit"
Solution: Your file has more rows than your current plan allows. Upgrade your plan or reduce the date range.
Error: "Invalid date format"
Solution: The system cannot interpret your date format. Try standardizing dates to YYYY-MM-DD format.
Error: "Insufficient credits"
Solution: You've used all available transaction credits. Purchase more credits or wait for your next monthly allocation.
If you encounter browser-related issues:
Pro Tip:
Using an up-to-date version of Chrome or Firefox typically provides the best experience with ReconcileIQ.
Reach out to our support team if:
Note:
Our support team aims to respond to all inquiries within 24 business hours.
There are several ways to reach our support team:
Important:
Never include sensitive financial data or login credentials in your support requests.
To help us resolve your issue quickly, please include:
The more information you provide, the faster we can help you resolve the issue.
If you can't find what you're looking for in these guides, our support team is ready to assist you.
Apply what you've learned and experience the full power of ReconcileIQ with a free trial.