Bank reconciliation means matching each movement in the account statement (receipts and payments) with the invoice, receipt or document that justifies it, so that the balance in your accounting corresponds to the real balance in the bank.
Automated, the process becomes simple: you import the statement, and the system matches the payments with issued and received invoices based on the amount, date, partner and reference, then surfaces only the exceptions — payments without an invoice, amount differences or partial receipts — that really need a human decision.
Why it is hard manually
Manually, reconciliation means searching through long lists for the invoice that corresponds to each line in the statement. Difficult cases always appear: a single payment that covers multiple invoices, a partial receipt, a partner written differently in the bank than on the invoice, or bank fees that have no document.
At high volumes, these cases consume the most time, and the errors propagate into reports and into client balances.
How automatic matching works
- You import the bank statement (or bring it in automatically through a connection).
- The system looks for the corresponding invoice by amount, date, partner and reference.
- Clear matches are confirmed automatically.
- The exceptions (no invoice, different amounts, partial payments) are surfaced separately.
- You only confirm or correct the exceptions, not the entire statement.
How BIWizz helps you with reconciliation
In BIWizz, Wizzy matches the payments from the statement with issued and received invoices and surfaces the exceptions that need review, instead of making you go through the entire statement line by line.
Because the invoices (including those from e-Factura), the documents and the bank sit in the same context, reconciliation uses real company data, not guesses.