How to Automate Payment Reconciliation
Automatically match incoming and outgoing payments to invoices across multiple bank feeds, payment processors, and accounting systems. Eliminate the tedium of manual bank reconciliation.
The Problem
UK SMEs spend an average of 8 hours per week on manual bank reconciliation. With payments arriving via bank transfer, Direct Debit, card payments, and platforms like Stripe or GoCardless, matching each transaction to the correct invoice is painstaking. Partial payments, foreign currency transactions, and missing references make it worse — and unreconciled items delay month-end close by an average of 5 working days.
How It Works
Bank feeds and payment processor data pulled automatically into the system
AI matches transactions to outstanding invoices using amount, reference, and date
Partial payments, overpayments, and multi-invoice payments identified and allocated
Unmatched transactions flagged with suggested matches for human review
Reconciliation reports generated daily with discrepancy alerts
Tools & Integrations
Best For
Frequently Asked Questions
How does automated reconciliation handle partial or split payments?
The AI identifies partial payments by matching amounts against outstanding balances and allocates them proportionally or to the oldest invoice first, depending on your rules. Split payments across multiple invoices are detected using reference patterns and customer history.
Can it reconcile across multiple bank accounts and currencies?
Yes. The system connects to all major UK banks via Open Banking and handles multi-currency reconciliation with automatic exchange rate lookups. This is particularly useful for businesses trading internationally or receiving payments in EUR, USD, and GBP.
Want us to automate payment reconciliation for you?
Book a free strategy call and we'll set up this automation for your business — fully customised to your workflows and tools.
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