Bank Reconciliation
Transactions are matched to invoices and payments the moment they clear. By the time month-end arrives, 95%+ of transactions are already matched. The close becomes a 30-minute review.
Bank reconciliation is theoretically simple.
Every debit and credit in the bank should match something in your books. In practice, it happens at month-end, in bulk, manually. You download a CSV. You go line by line. You investigate unmatched items from three weeks ago with no context. BeanStack does this continuously, in real time, as transactions clear. By month-end, the work is already done.
12,000+ institutions via Plaid, plus direct integrations for Chase, BofA, Wells Fargo, and SVB. Transactions appear as they clear — no manual downloads, no CSV batches.
Every transaction is scored against open invoices and payments by amount, date, payee name (normalized against your vendor master), and reference number. High-confidence matches post automatically.
Unmatched transactions, duplicates, and unexpected charges surface with a specific reason and suggested resolution — not a spreadsheet of unknowns at month-end.
Every match is scored on four signals. Above your threshold: posts automatically. Below threshold: surfaces for one-click confirm or reassign — not a full reinvestigation.
Exact match, near-exact, or within configurable tolerance. Foreign-currency amounts translated at spot rate.
Vendor name normalized against your master — handles abbreviations, legal suffixes, and format variations.
Scored within a configurable window. A payment arriving 2 days after the due date still matches at high confidence.
Invoice number, PO reference, and payment ID extracted and cross-referenced. Exact match contributes the most signal.
Duplicate payments are caught before they clear, not discovered weeks later. BeanStack compares every incoming payment against your AP ledger — duplicate vendor invoices, double ACH payments, and accidental re-runs are flagged instantly.
Traditional accounting is batch-oriented. BeanStack reconciles continuously. By month-end, 95% of transactions are already matched. The close becomes a 30-minute review instead of a 3-day fire drill.
Which banks does BeanStack connect to?
12,000+ financial institutions via Plaid. Direct integrations for Chase, Bank of America, Wells Fargo, and SVB. CSV import available as fallback for any institution.
What if a transaction is matched incorrectly?
Every match is reviewable and correctable. Corrections are posted as reversals — the original AI match and human correction are both logged with timestamps.
Does BeanStack handle multi-currency reconciliation?
Yes. Foreign-currency transactions are translated at spot rate on the transaction date. Realized FX gains and losses are posted automatically when payments settle at a different rate than the invoice.
Connect your first bank account and see your match rate within 24 hours.