Term
What is bank reconciliation? Meaning and explanation
Bank reconciliation is checking that a bank account's balance and movements in the books agree with the bank statement.
Definition
Bank reconciliation is checking that a bank account's balance and movements in the books agree with the bank statement.
Also known as: Bankreconciliatie, Bankaansluiting, Bank reconciliation, Aansluiting bank
Every transaction is explained by matching and reconciling it. Autoboeker's AI bank matching does this continuously for Exact Online, Twinfield and SnelStart and sends unexplained transactions to the client.
Further reading
Related in the knowledge base.
Guides
Automating bank reconciliation: from bank statement to balance
Automating bank reconciliation for firms: how bank data arrives (PSD2, CAMT.053, MT940), how AI matches and reconciles and how the bank balances faster.
8 min readRead the guideWorkflowsBank matching and reconciliation: how to automate it
What bank matching and reconciliation are, how to link transactions to invoices and how AI matches on amount, reference, IBAN, contact and date with a score.
9 min readRead the guideWorkflowsMonth-end close checklist for bookkeeping firms
Checklist for month-end and quarter-end close: all documents in, bank reconciled, suspense accounts cleared, accruals booked and VAT checked before filing.
10 min readRead the guidePlatform
Integrations
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