bank reconciliation
Bank Reconciliation

Automated Bank Reconciliation. Accurate. Scalable. Effortless

Automate the entire bank reconciliation process with intelligent matching, seamless ERP integration, and real-time exception tracking.

Handle high volumes, reduce manual effort, and maintain audit‐ready reconciliation‐no matter how complex your transactional data

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Automated Bank Reconciliation Features for Faster, Accurate Financial Close

1

Multi Bank Integration

Gain real-time visibility with direct bank integrations that minimize manual effort and accelerate your financial close process.

  • Consolidate banking data from multiple entities and regions
  • Access up-to-date statements automatically, in one platform
  • Eliminate manual uploads and reduce reconciliation delays
2

Financial Data Integration

Unify all critical financial records to enable accurate, end-to-end reconciliation.

  • Sync general ledger entries with ERPs in real-time
  • Reconcile invoices, receipts, and payments across all data sources
  • Capture adjustments and corrections directly within the reconciliation process
3

Bank Statement to Bank Ledger Matching

Automate the matching of bank statements with Bank ledger entries using AI that improves accuracy over time.

  • Instantly reconcile high-volume transactions between bank statements and bank ledgers
  • Supports one-to-one, one-to-many, and many-to-many matching across source data (e.g., statements, ledgers)
  • Configurable rules for complex, multi-source reconciliation criteria
  • Minimize errors and manual work through intelligent matching suggestions
  • Accelerate your month-end close with faster, more accurate bank reconciliations

How It Works

HOW IT WORKS

Why Choose Taxilla?

Ensure real-time sync with ERP and banking systems, eliminating silos and delays.

Achieves 95%+ accuracy through advanced AI-driven transaction matching.

Eliminate over 95% of human errors and mismatches in transaction processing.

Achieve up to 85% reduction in reconciliation effort through end-to-end automation.

Detect suspicious or long-standing items, reducing financial and reputational risks.

Get 100% live insight into cash positions, reconciliation status, and outstanding transactions.

Enable timely forecasting and avoid overdrafts with accurate, up-to-date reconciliations.

Reconcile high volumes from multiple systems efficiently, without compromising accuracy or performance.

Leverage AI to automatically match bank statements with cash ledger entries, reducing reconciliation cycles and speeding up period-end closings with greater accuracy.

Frequently Asked Questions

1

What is bank reconciliation and why is it important?

Bank reconciliation is the process of matching a company's bank statements with its internal financial records to ensure accuracy and consistency. It helps identify discrepancies such as missed payments, duplicate entries, or unauthorized transactions, which is essential for maintaining financial integrity and accurate cash flow tracking.

2

How does automation improve the bank reconciliation process?

Automation eliminates manual data entry and matching by using AI to identify and reconcile transactions faster. It reduces errors, speeds up the monthly close cycle, and provides real-time visibility into unmatched transactions, enhancing overall financial efficiency.

3

What are the unique features of Taxilla's Bank Reconciliation solution?

Supports multi-bank and multi-entity integration, AI-powered transaction matching, autosuggestions for unresolved items, and detailed audit trails. It also allows configurable rules for complex matching scenarios and seamless syncing with ERP and G/L systems.

4

How does Taxilla handle near matches and unmatched transactions?

Taxilla uses configurable tolerance levels to auto-match entries with minor differences like fees or rounding. Unmatched items are flagged with smart suggestions for review, categorization, or escalation, ensuring high match rates and clear exception handling.

5

Is it possible to reconcile multiple bank accounts or entities simultaneously?

Absolutely. Taxilla's solution supports centralized reconciliation for multiple bank accounts, legal entities, or geographies—making it ideal for enterprises with complex banking structures.