personal finance software reconciliation

SolveXia’s enterprise-grade automation suite provides data processing, reporting, data persistence, audit trails and more. Many organisations use SolveXia to automate their account reconciliations, with a critical benefit being significant (10x) gains in team productivity. SolveXia is a Digital Work Platform for Finance Automation. Let’s take a look at what some of the best tools on the market have to offer. Making a Choice: The 5 Best Reconciliation ToolsĬhoosing the right reconciliation tool means considering both the upsides and the downsides. This could be performed manually or automatically.

Classification: Records should be able to be classified and attributed to their type classes during the matching process.

You should also be able to define tolerance levels for a variance. You can establish matching rules for each account separately or create company-wide matching policies. Here, the data can be pulled from various sources, compared and matched.

Transaction matching: This is the crux of the tool.

You can also leverage a clean-up method to resolve issues manually.

Issue management: If there’s an issue, the tool should identify the exception and be able to roll the forward problems into subsequent periods until it’s been resolved.The system should also be able to compare financial reports from previous historical periods in time. Reporting: A statement can be produced to highlight any records that are unmatched between the GL and bank statement.When looking for reconciliation software tools, you’ll want to make sure the following features are included:

Personal finance software reconciliation