Assisted Bank Reconciliation

When reconciliation becomes time-consuming

Comparing bank statements with accounting entries means identifying sometimes complex matches—split amounts, offset dates, imprecise labels, or multiple operations.

This repetitive task consumes significant time, especially at period end, and requires constant attention to avoid errors or oversights.

Why manual reconciliation creates friction

Reconciliation often relies on visual comparisons and manual searches. Discrepancies must be identified, understood, and justified, which slows closing and complicates anomaly tracking.

As transaction volumes grow, this approach quickly hits its limits.

The Fasfox approach to bank reconciliation

Fasfox develops AI solutions that analyze bank statements and accounting entries to propose automatic reconciliations. The AI identifies probable matches, even with variations in labels or dates.

Unreconciled or atypical operations are highlighted, making their analysis and handling easier. The solution adapts to accounting rules, bank formats, and existing financial practices.

How it works in practice

1. Bank statements and accounting entries are analyzed.
2. AI identifies probable matches.
3. Obvious reconciliations are automatically proposed.
4. Discrepancies and anomalies are flagged.
5. Teams validate or adjust reconciliations.
6. Bank reconciliation is finalized faster.

Operational benefits

• Time saved on bank reconciliation
• Fewer errors and oversights
• Faster financial close
• Better visibility into discrepancies
• Stronger account reliability

When this solution adds the most value

• High volumes of bank transactions
• Multiple accounts and flows
• Strong constraints on closing deadlines
• Need to secure reconciliations

Deployment and integration

Fasfox deploys this solution by integrating with existing accounting and banking tools. Reconciliation rules are adjusted to practices and progressively enriched through validations.