Two files in, four answers out — matched, unmatched on each side, and duplicates. Exportable as a working your reviewer can follow.
Reconciliation is a matching problem that spreadsheets solve badly. VLOOKUP finds the first match and stops, ignores near-misses, and gives up entirely when one side records a payment on Friday and the other on Monday. Finatica treats it as what it is — a two-sided matching exercise with exceptions that need a human.
Bank statement and cash book, vendor statement and payables ledger, settlement report and sales register — the column mapping step adapts to whatever layout you have.
Unmatched entries on both sides and suspected duplicates are surfaced separately, because the exceptions are the entire point of the exercise.
Parsing and matching run client-side, so client bank data does not need to leave the machine to be reconciled.
Download the full reconciliation to Excel and attach it to the audit file or send it to the client as-is.
A lookup formula answers one question: does this exact value exist over there. Reconciliation asks harder questions. Did a payment recorded on the 31st clear on the 2nd? Did the bank net three transfers into one line? Did someone record the same vendor bill twice with different reference formats? A formula returns #N/A for all of these and the reviewer is back to scrolling. The failure mode is not that the spreadsheet is slow — it is that it silently reports a clean match on a file that has genuine differences.
Upload both files and Finatica reads the headers from each. You map once — which column is the date, which is the amount, which carries the reference or narration — and that mapping drives the match. Entries that pair cleanly are reported as matched; everything else is placed in front of you as an exception with enough context to decide what it is.
The same matching engine covers the recurring reconciliations that consume a practice month end. Each one is two lists that ought to agree and usually do not, for reasons worth knowing about.
Four steps, no formulas.
Bank reconciliation is the process of agreeing the cash balance in your books to the balance on your bank statement, and explaining every difference. Typical reconciling items are cheques issued but not yet presented, deposits in transit, bank charges and interest not yet recorded in the books, and direct credits the bank has posted that you have not. The output is a statement that starts at one balance and arrives at the other through identified differences.
Anything that exists as two lists that should agree. Common uses are vendor statements against your payables ledger, customer statements against receivables, payment gateway settlement reports against recorded sales, inter-company balances, and purchase registers against GSTR-2B data.
No. Upload two Excel files in whatever layout your bank or system produces. The column mapping step is where you tell Finatica which column carries the date, the amount and the reference on each side, so the tool adapts to your files rather than the other way round.
The Excel parsing and the matching logic run in your browser. The reconciliation itself does not require the file contents to be sent to a server, which matters when you are handling client bank data.
Four sections: matched pairs, entries present only in the first file, entries present only in the second file, and suspected duplicates. All of it exports to Excel as a working you can attach to your file.