Bank statement reconciliation automation

Purpose

1.1. Automate data extraction from bank statements, match transactions with general ledger (GL) entries, flag discrepancies for review, and create reconciliation reports.
1.2. Improve accuracy by reducing human error, cut reconciliation cycle times, streamline compliance reporting, and enable faster financial decision-making.
1.3. Handle multi-bank, multi-currency statements, import varied formats (CSV, PDF, OFX), perform auto-categorization, and support bulk account processing.

Trigger Conditions

2.1. Upload or receipt of a new bank statement (via email, SFTP, API pull, or web portal).
2.2. Scheduled period-based triggers (daily, weekly, monthly).
2.3. New transactions in banking/GL system detected via webhook or polling API.

Platform Variants

3.1. Xero
• API: Bank Statements Import — set up “POST /bankstatements” for automated upload.
3.2. QuickBooks Online
• Feature: Banking API “POST v3/company/{companyId}/bankaccounts/transactions”; map statement data fields.
3.3. Sage Intacct
• API: “importBankTransactions”; automate feed mapping.
3.4. NetSuite
• SuiteTalk API: “addList: bankTransactions” — configure for bulk import.
3.5. Oracle Fusion Cloud
• ERP Integration: “Bank Statement Loader” API — schedule as ETL job.
3.6. SAP S/4HANA
• Feature: Bank Reconciliation Automation — connect “Bank Communication Management” module for auto-import.
3.7. Zoho Books
• Bank Feeds API: “/bankaccounts/{account_id}/statements”; regular push from email/SFTP.
3.8. FreshBooks
• Bank Import: trigger via “Bank Transaction Importer” endpoint.
3.9. Wave
• Feature: “Bank Connections” — webhook on new data, with rule-based matching.
3.10. Plaid
• API: “/transactions/get”; schedule import per account, parse & export for matching.
3.11. Yodlee
• API: “/transactions”; set user-token, poll on schedule for new entries.
3.12. Microsoft Power Automate
• Connector: “Bank Statement Extractor” + “Dynamics 365 Finance” import for GL matching.
3.13. Google Sheets
• Script: “IMPORTDATA” & “Google Apps Script” for parsing/upload routine.
3.14. Dropbox Business
• API: “/files/list_folder/longpoll” trigger for .csv/.pdf import, call parsing workflow.
3.15. AWS Lambda
• Trigger: S3 bucket file upload (“PutObject”) invokes statement parser function.
3.16. Azure Logic Apps
• Trigger: “When a file is created in a folder (OneDrive/SharePoint)” + OCR module for PDF.
3.17. UiPath
• Process: PDF Data Extraction + ERP API call for reconciliation, with scheduled bots.
3.18. ABBYY FlexiCapture
• Feature: Batch document import, define bank statement templates, extraction rules.
3.19. Power BI
• Dataflow: Automated refresh of statement data, reconciliation status dashboard.
3.20. Tableau
• Connector: JDBC/API for live reconciliation results visualization from processed data.

Benefits

4.1. Eliminate manual statement handling and reduce error rates.
4.2. Real-time transaction matching, quicker month-end closing.
4.3. Enhanced exception flagging and compliance audit trails.
4.4. Better visibility into cash flows and financial health.
4.5. Scalable to many clients/accounts with repeatable, role-based workflows.