Bank reconciliation
Bank reconciliation software that matches statement lines for you
Import MT940 or CAMT.053 statements from your bank, and Finance Hero matches lines to the open invoices and bills they settle. One click runs the automatic matching, the rest come with scored suggestions, and every match books the payment, the allocation and the journal in one step.
Statement import and reconciliation are included in every Finance Hero package.
01How it works
From statement file to reconciled account
Statement import
Statement import that skips duplicates
Export the statement from your bank as SWIFT MT940 or ISO 20022 CAMT.053 and upload it to the bank account. Lines you have imported before are skipped, and the import reports how many lines were added and how many were skipped.
- Import the same file twice and nothing is doubled
- Each line keeps its date, counterparty, amount and reference
Automatic matching
One click settles the clear matches
Auto reconcile settles a line when its exact amount matches a single open invoice or bill and the invoice number appears in the bank text, or when a reference in the text points to an open invoice with the same balance. Each match records the payment, the allocation and the journal entry.
- Money in settles customer invoices, money out settles supplier bills
Suggestions
Scored suggestions for the lines that remain
Every open line is scored against candidate invoices and bills: the amount counts for 50%, the reference for 30%, the name for 10% and the date for 10%. Suggestions are grouped as High (80% or more), Medium (50% to 79%) and Low, and you accept them one at a time.
Bank accounts
Each bank account with its own currency
Record each account with IBAN, BIC, currency, an opening balance and a linked ledger account. From the list, open each account's statement import or its reconciliation screen.
Cash
Cash today and over the next 30 days
The dashboard shows the bank balance next to the cash in your books and the difference still to reconcile. The cash-flow page projects money in and out for the next 30 days from open invoices and bills by due date, and lists overdue items separately.
02Also included
More for banking and cash
Money in and money out
Incoming lines settle customer invoices and outgoing lines settle supplier bills, so receivables and payables are both kept up to date.
Foreign-currency accounts
Keep accounts in any active currency. The reconcile screen offers only invoices and bills in the line's currency, and month-end revaluation restates bank balances at the period-end rate.
Bank cash next to book cash
The dashboard compares the bank balance with the ledger and shows the gap still to reconcile.
Cash-flow statement
Direct or indirect method for any period, with opening and closing cash from the ledger. Print it or save it as a PDF.
Manual journals
Bank charges or interest with no invoice behind them go in as a manual journal that cannot be saved until it balances.
You decide who reconciles
Importing and reconciling statements need their own permission, so only the people you choose work on the bank side.
03Step by step
Reconcile in five steps
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Step 1 Add the account
Enter the IBAN, currency and linked ledger account once.
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Step 2 Import the statement
Upload the MT940 or CAMT.053 file from your bank.
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Step 3 Run auto reconcile
Clear matches are booked in one click.
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Step 4 Review suggestions
Accept the High-confidence pairs first, then look at Medium and Low.
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Step 5 Handle the rest
Match the remaining lines by hand, and post bank charges and interest as a manual journal; those lines stay in the open list.
04FAQ
Questions about bank reconciliation
Not answered here? Write to [email protected]. A person from our team in Skopje replies, Monday to Friday, 09:00–17:00 CET.
Which bank statement formats can I import?
SWIFT MT940 and ISO 20022 CAMT.053. Export the statement in one of these formats from your bank's online banking and upload it to the matching bank account. If your bank offers neither format, statements cannot be imported and payments are recorded by hand.
What happens if I import the same statement twice?
Nothing is doubled. Lines that were already imported are recognised and skipped, and the import tells you how many lines it added and how many it skipped.
How does automatic matching decide?
It settles a line when the exact amount matches a single open invoice or bill and that invoice's number appears in the bank text, or when a reference in the text points to an open invoice with the same balance. Anything less certain is left for you to review.
What do High, Medium and Low mean?
They group the scored suggestions. The score weighs the amount at 50%, the reference at 30%, the name at 10% and the date at 10%. High means 80% or more, and Medium 50% to 79%.
What if a bank line matches nothing?
Post it as a manual journal, for example for bank charges or interest. Only lines matched to an invoice or bill are marked reconciled, so a line handled with a journal stays in the list of open lines.
Can outgoing payments be reconciled too?
Yes. Money leaving the account is matched against supplier bills in the same way, and the supplier payment and its journal are booked for you.
Does it work with foreign-currency bank accounts?
Yes. Each bank account has its own currency, and the reconcile screen offers only invoices and bills in that currency. Matching does not post the realised exchange difference, so book it with a manual journal. At month-end, the revaluation run can restate foreign-currency bank balances at the period-end rate.
How often should I import statements?
As often as suits you. Importing and matching daily or weekly keeps the bank and book cash on the dashboard close together, and once lines are matched, paid invoices stop showing as overdue.
See bank reconciliation in Finance Hero
Book a demo and we will show you statement import, automatic matching and suggestions step by step.