Matching bank transactions to accounting entries automatically, rather than line by line.
Software compares incoming payments against open invoices using references, amounts, dates and counterparty names, clearing what matches and leaving only exceptions for a human.
Structured references are what make this reliable: a QR reference or an ISO 20022 end-to-end reference lets a payment be matched with certainty, where a free-text message requires guesswork. Automating reconciliation is typically the single largest time saving available in a fiduciary's bookkeeping work.
