Bank reconciliation software for India should do one job well: put your bank statement next to your books and show you what does not agree. In Aicountly Smart Books, you pick a bank ledger, import the statement, let Auto Match pair the obvious entries and deal with the rest by hand. This guide walks through that routine and explains the reasoning behind each step.
Why reconcile your bank account every month
Your books and your bank rarely agree on the last day of a month. Cheques are issued but not yet presented, deposits are made but not yet credited, and bank charges appear that nobody has entered. A monthly reconciliation finds these differences while you can still remember what caused them. If you want the manual logic first, read our monthly bank reconciliation routine with a worked example.
Step 1: choose the bank ledger and the period
In Aicountly Smart Books, bank reconciliation (BRS) sits under Operations as "Bank Reconciliation (BRS)", described as a unified reconciliation workspace. Start by selecting the bank ledger you want to reconcile, then set the date range. By default the range follows your financial year, and you can narrow it to the month you are closing.
Step 2: import the bank statement
Use the import button in the action bar to upload your statement. Aicountly Smart Books accepts CSV files, and also PDF, JPG and PNG scans of a statement. Two practical points:
- Select the bank ledger first. The import asks you to choose a bank ledger before it proceeds.
- Statement files are saved to your documents store, so this step needs that facility to be switched on for your workspace.
Every upload is recorded in the Import History panel, which shows the file name, its status, how many rows were imported and how many had errors. If a file was the wrong one, you can roll that batch back instead of cleaning up row by row.
Step 3: read the summary cards
Before matching anything, look at the cards at the top of the workspace: Book Opening, Bank Opening, Matched Entries, Unreconciled (Book), Unreconciled (Bank) and Difference / Closing. A session bar shows whether the account is "Balanced" or still carries a difference. A summary bar also lists the book balance, the bank balance, outstanding cheques and deposits in transit, ending in a final difference.
Step 4: run Auto Match
Click Auto Match. Aicountly Smart Books pairs statement lines with book entries using your match rules. You control those rules from the Match Rules screen:
- Amount + Date matches entries with the same amount on or near the same date. You can set an amount tolerance and a date tolerance in days.
- Narration contains matches on a text pattern in the narration, which helps for recurring items such as a landlord's monthly rent.
Start with zero tolerance. Loosen it only if you see many near-misses, because a wide tolerance can pair the wrong entries.
Step 5: clear what is left by hand
The workspace has tabs that count entries by state, and the toolbar uses the labels Matched, Pending, Ignored and Unmatched. For the leftovers:
- Manual Match pairs a statement line with a book entry yourself. A group mode lets you match several entries against several lines, useful when one deposit covers three receipts.
- Create Voucher books an entry that exists only in the bank, such as bank charges or interest.
- Ignore and Un-ignore set aside lines you do not want to reconcile.
- Undo Match reverses a pairing you made by mistake.
The insights panel also lists possible duplicate or similar entries and unreconciled items that have been sitting for a long time. Treat these as prompts to investigate, not as answers.
Step 6: close the session
When the difference is nil, the session shows "Ready to Close". Submitting opens a checklist of checks that must pass, and the session then goes for approval. You can export the reconciliation as CSV, Excel or PDF, or print it, which is handy for your auditor or CA.
Common mistakes to avoid
- Reconciling only at year-end, when hundreds of lines are open.
- Entering an opening balance wrongly. Aicountly Smart Books has an opening items screen for items already outstanding at the start.
- Matching by amount alone when two payments are identical.
- Ignoring lines to make the difference vanish instead of finding the cause.
Key takeaways
- Select the bank ledger and period, then import the statement.
- Run Auto Match with tight rules first, then clear the rest manually.
- Create vouchers for items that exist only in the bank.
- Close the session only when the difference is nil, and export the result for your records.
Reconciliation also feeds your period-end work; see our half-year book closing checklist. If you use Aicountly Smart Books, the Bank Reconciliation workspace keeps import, matching and sign-off in one place. Confirm accounting treatment of unusual items with your CA. For the step-by-step help article, see importing and reconciling a bank statement in Aicountly Smart Books.