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Reconcile a bank account

Import a bank or card statement, resolve AI-assisted matches, and produce an audit-grade reconciliation workpaper.

Steps

  1. Import the statement. Bank statements accept CSV, OFX/QFX, BAI2, MT940, or PDF; card statements accept CSV or OFX/QFX, including formats from Amex, Brex, and Ramp.
  2. Review proposed matches. Matching runs against your own records — contributions received, distributions sent, fee receipts, expense payments, AP/AR activity — using amount, date proximity, counterparty, and reference fields.
  3. Confirm high-confidence matches. One click each; every confirmation records who (or which AI step) proposed it, who confirmed it, and when.
  4. Work low-confidence matches by hand. These route to explicit review rather than being auto-confirmed.
  5. Track outstanding items. Deposits in transit, outstanding checks, in-flight wires, and pending card transactions carry an expected clearing date; an aging view flags anything overdue.
  6. Handle card timing differences. An expense charged near quarter-end that clears the statement next quarter books as an accrual in the correct period, with the offsetting payable clearing when the statement reconciles.
  7. Generate the workpaper. Book balance, bank balance, outstanding items by category, reconciling adjustments, and the tie-out to the GL trial balance, per account per period.

A non-functional-currency account reconciles in its native currency, translated to the fund’s functional currency at the period’s close-of-period rate.