Bring in transactions without retyping
Where your institution supports a direct feed, transactions are pulled on a schedule. Where it does not, statement files are imported from an agreed location. Either way nobody retypes a statement.
Finance & Treasury · Zimbabwe
Bank Reconciliation Software
Match the statement to the ledger, and work only what does not match.
An app that brings bank transactions into your ERP and matches them against ledger entries, so your accounts team reviews what needs judgement instead of ticking off every line.
Overview
Match the statement to the ledger, and work only what does not match.
Reconciling by hand means reading a statement and ticking it against the ledger line by line. It is slow work at month end, and every figure retyped is a chance to introduce an error. This app removes the ticking. Transactions reach your ERP from the account — where your institution supports a direct feed we use it, and where it does not, statement files import on a schedule instead — and are matched to ledger entries on amount, value date, reference and rules you set. Matched items are presented for review. Anything that does not match is listed as an exception with the reason it failed, so a difference is never quietly absorbed into a balancing figure.
Who it is for
- Finance and accounts teams reconciling several bank accounts each month
- Businesses running an ERP where reconciliation is still done by hand
- Organisations with high transaction volumes and a long month-end close
Core capabilities
What we can help you put in place.
Match on rules you control
Matching works on amount, value date and reference text, plus rules you define for recurring items such as standing charges, salary batches and customer deposits. Those rules are yours to change as the patterns change.
Every exception stays visible
Anything unmatched is listed with the reason: no ledger entry, duplicate candidate, amount difference, value date outside tolerance. Items stay on the list until a person resolves them.
Part-payments and grouped deposits
One deposit covering several invoices, or one invoice settled in instalments, can be matched as a set rather than forced into a line-for-line match.
Posting and payment scope you set
The app can post matched entries in your ERP and, where your bank supports it, prepare payment instructions from the ERP for approval under your own bank mandates. What it is permitted to do is agreed with you before implementation. Africube never holds or moves funds.
How the workflow works
Follow the operational process.
A typical workflow, aligned to the agreed scope and configuration.
- 01
Review
Look at the accounts being reconciled, the ERP in use, the statement formats available and how matching is done today.
- 02
Define
Confirm how transactions will reach the app for each account, agree the matching rules and tolerances, and set the posting and payment permissions.
- 03
Configure and test
Run the app alongside your current method for a full closing period and compare the results line for line.
- 04
Hand over
Train the accounts team on exception handling and rule changes, and agree who maintains the setup.
Reporting & visibility
What the engagement can deliver.
Reconciliation statement
The reconciled position for each account: opening balance, matched movements, outstanding items and closing balance.
Exception list
Unmatched transactions on both sides, each with the reason it failed to match and how long it has been outstanding.
Match audit trail
Automatic matches, manual matches and overrides, showing who actioned each item and when.
Configuration & connections
Start with your requirements.
What is possible depends on which institutions hold your accounts and what each one makes available: some support a direct feed, others provide statement files that import on a schedule. It also depends on your ERP, how the ledger is structured and the volume per account. The posting and payment permissions the app is given are agreed with you in writing before implementation.
- The ERP or accounting system in use, its version and how it is hosted
- A list of the bank accounts to be reconciled and the statement formats currently received
- Sample statements and a sample ledger extract with confidential details removed
- A contact in the accounts team who owns the reconciliation, and a contact for system access
Useful answers
Before your demonstration.
Does this connect directly to our bank?
It depends on the institution. Where your bank supports a direct feed we use it; where it does not, statement files import on a schedule and everything after that works the same way. Africube holds no agreement with any bank and does not speak for one. What is available for your accounts is confirmed with you and your institution before implementation.
Will it change our accounting records?
Only as far as you allow. The app can post matched entries and, where your bank supports it, prepare payment instructions from the ERP for approval under your own bank mandates. Those permissions are agreed and documented before implementation, and Africube never holds or moves funds. If you would rather it only read and present the reconciliation for your team to action, it can be set up that way.
What happens to items that do not match?
They are listed as exceptions with the reason and stay there until a person resolves them. Nothing is cleared automatically to force a balance. That is the point of the app: the team spends its time on the items that need judgement.
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Explore solutionYour next step
See how it fits your operation.
Tell us what you use today, what needs to work better and where you want to go.