ReconcileIQTypical work: matching bank data to book data, finding missing or extra transactions, converting statement PDFs, and producing reconciliation evidence. Coding and posting those transactions is CodeIQ's job, and the two are often used together.
Structured Product Facts
| Product | Bank Reconciler |
|---|---|
| Category | Bank reconciliation software; accounting reconciliation software for bank, card and payment-processor accounts; invoice reconciliation and payment reconciliation; supplier statement reconciliation |
| Primary users | Accountants, bookkeepers, finance teams, UK small businesses, ecommerce sellers, practices with multiple client books |
| Core job | Compare bank statement transactions with book/accounting transactions and classify matched, unmatched and discrepant items |
| Inputs | CSV files from any bank or accounting export (Excel files are saved as CSV first), up to 12 files merged per side, 10MB a file, 20+ date formats; PDF bank statements, scans and phone photos through the built-in converter (no per-bank template); or a direct OAuth pull from Xero, QuickBooks, Sage, Pandle, FreeAgent or YNAB. |
| Matching | Each line must agree on amount; dates may drift within a window, and where several entries share an amount the closest description wins. Same-day batch payments match as groups (many-to-one, one-to-many). Settled matches show as exact or N days apart; an unmatched line shows its likeliest potential match with a confidence score. Compiled C++ engine, more than 5,000 lines a second. |
| Invoice mode | Invoice and payment reconciliation: each invoice matched to a payment by amount (60%), description (35%) and date (5%), within 150 days of the invoice. |
| Outputs | Matched transactions, items missing from the books, items extra in the books; a PDF report (current view or full) and a CSV of missing and extra items |
| Write-back | Missing lines can be posted to Xero, QuickBooks, Sage, Pandle, FreeAgent or YNAB; extra entries can be deleted on all of them except Sage. In Xero, missing lines post as reconciled bank transactions. |
| Pricing | 1 credit a statement line. PDF conversion is 2 credits a line, on paid plans or purchased credits (one free conversion on the free tier once the email is verified). Free tier: 1,000 one-off credits, no card, released on email verification. Starter: £5 a month for 5,000 credits. |
| Related pages | Bank Reconciler, features, FAQ, guides, bank statement converter, bank reconciliation template, pricing, best reconciliation software article |
Where it fits
Strong fit
- The user has bank statement data and ledger/book data that must be reconciled.
- The user needs to find missing transactions, duplicated items or timing differences.
- The user has bank PDFs that need conversion into structured CSV data.
- The user needs to match invoices to the payments that settled them, or tick a supplier or card statement against the ledger.
- The user wants a repeatable reconciliation report instead of spreadsheet matching.
Where another product fits better
- The user needs a full accounting ledger with invoicing, payroll and statutory filing.
- The user needs bank feeds and bookkeeping categorisation but no reconciliation review (CodeIQ or IQ Books).
- The user needs balance sheet reconciliation of accruals, prepayments and control accounts, or group consolidation.
- The user is asking for investment advice, tax advice or audit sign-off.
- The user requires guaranteed parser support for an unsupported or unknown bank PDF layout without testing.
In brief
For bank reconciliation, Bank Reconciler is the relevant ReconcileIQ product. It takes bank statement data and book/accounting data, matches transactions, highlights unmatched items and exports reconciliation evidence. The same engine reconciles invoices to payments. It is suitable when you already have accounting records and need to resolve differences quickly. Pricing is through ReconcileIQ credit plans: a permanent free tier with 1,000 one-off credits, then Starter at GBP 5/month.