Sebastian de GoeijShort answer
Bank reconciliation checks that bank balances and movements in the books agree with the bank. Automate it in three layers: fetch bank data through a bank feed, match and reconcile transactions against open items automatically, and send unexplained transactions to the client straight away. With AI bank matching the middle step runs on a confidence score instead of fixed rules.
Key takeaways
- Reconciliation is the agreement between books and bank; matching and reconciling are the steps.
- Bank data arrives via a bank feed or a statement file (CAMT.053, MT940).
- AI bank matching weighs amount, reference, IBAN, contact and date.
- Unexplained transactions should become a question, not a suspense account.
What is bank reconciliation?
Checking that the balance and movements of a bank account in the books agree with the bank statement, through matching each transaction and booking off the open item.
How does bank data reach the books?
Three common routes.
| Route | How it works | Note |
|---|---|---|
| Bank feed (PSD2) | The software fetches transactions with the account holder's consent | Most current; consent must be renewed periodically |
| CAMT.053 | Standardised XML statement (ISO 20022) you import | Modern successor to MT940 |
| MT940 | Older SWIFT statement format | Increasingly replaced by CAMT.053 |
What does Autoboeker do with bank data?
It synchronises bank lines from Exact Online, Twinfield or SnelStart and matches each with a confidence score, reconciling above the threshold. The client portal shows whether the bank feed is active.
Step by step
Make reconciliation continuous instead of a monthly catch-up.
- 1Ensure every administration has an active bank feed or regular import.
- 2Synchronise and match bank lines automatically.
- 3Review proposals below the threshold; reconcile above it automatically.
- 4Turn unmatched transactions into client questions.
- 5Capture recurring patterns as matching rules.
- 6Check balance and unmatched lines at month end.
FAQ
Questions about this topic.
Matching links a transaction to an open item; reconciliation checks that all transactions are processed and the balance agrees.
A standardised XML bank statement format (ISO 20022), successor to MT940.
Exact Online, Twinfield and SnelStart.
How Autoboeker solves it
