How to automate bank reconciliation with Interbanking and your ERP

Step by step

1. 1

   Understanding Interbanking and its data

   Interbanking is a platform that centralizes banking information from multiple entities, allowing you to manage movements and balances. It offers the possibility to export statements and movements in various formats, which are the basis for reconciliation.

2. 2

   The challenge of manual reconciliation

   Currently, reconciliation involves exporting movements from Interbanking, importing them into a spreadsheet (Excel), and manually comparing them with your ERP records. This process is prone to errors, time-consuming, and hinders quick accounting closing.

3. 3

   Step-by-step automation with The Eye Reconciliations

   The Eye Reconciliations automatically connects to Interbanking via API to import bank movements from all your accounts and banks. Define custom rules in The Eye Reconciliations for the system to automatically identify and reconcile matching transactions between bank movements and your ERP records. Transactions that are not automatically reconciled are presented for review. The Eye Reconciliations offers tools to investigate, adjust, and manually reconcile these exceptions, or create new rules for similar future cases. Once all transactions are reconciled, the system allows you to close the accounting period, generating detailed reports and ensuring data integrity.

4. 4

   Managing multiple accounts and banks

   The Eye Reconciliations is designed to handle the reconciliation of multiple bank accounts and banks simultaneously, centralizing the process and offering a consolidated view.

5. 5

   Common errors and how to avoid them

   Typographical errors, duplicate or missing transactions, and differences in descriptions are common. Automation drastically reduces these errors by standardizing the process and applying consistent rules.