9.0
Editor’s Rating:
Best Overall
AutoRek
  • Automated workflows
  • Enhance regulatory compliance
  • Real-time, reliable MI and comprehensive audit trails
8.9
Editor’s Rating:
Runner-Up
BlackLine
  • Match transactions across multiple sources
  • Exception management
  • Real-time visibility into financial data
8.7
Editor’s Rating:
Best for Included Accounting
Xero
  • Easily confirm bank transactions
  • Push notifications when bank lines are ready to reconcile
  • Suggestions based on bank rules

We recommend the best products through our own independent review process.

When searching for the best bank reconciliation software, a company should look for features that will automate the reconciliation process, minimize manual intervention, and reduce the risk of errors and compliance issues.

We’ve evaluated a handful of options on the market, and have deemed that the best options will provide real-time visibility into financial data, including detailed reports and analytics, and offer comprehensive audit trails. It should also be scalable to support company growth and integrate easily with existing systems.

After researching and comparing 20+ options, here are our top picks for the best bank reconciliation software.

1 AutoRek

AutoRek was designed for organizations in the financial sector, including banks, asset managers, insurance companies, and hedge funds. The software is specifically designed to automate financial and regulatory reporting processes and streamline reconciliation activities, saving time and increasing accuracy.

AutoRek is a top bank reconciliation software due to automated reconciliation, data validation, exception management, and regulatory compliance–all which help financial organizations reduce errors and comply with regulations.

  • Automated Reconciliation: Matches transactions across multiple sources, including bank statements, internal accounting systems, and third-party data.
  • Data Validation: Ensures data from multiple sources is accurate and complete, thereby reducing the risk of errors and compliance issues.
  • Exception Management: Helps identify and resolve discrepancies quickly, minimizing the need for manual intervention.
  • Regulatory Compliance: Stays compliant with the Financial Conduct Authority (FCA) and the General Data Protection Regulation (GDPR).
  • Reporting and Analytics: Identifies trends and areas for improvement.
Best Overall:
AutoRek
★★★★★
★★★★★
(3)

Operational Overview
Cash Balances
Account Summary
What We Like
Automated workflows
Enhance regulatory compliance
Real-time, reliable MI and comprehensive audit trails
Overview
Client OS: Web
Deployment: Cloud Hosted

2 Blackline

Blackline streamlines the financial close process through features it offers, such as bank reconciliation, account management, and other financial tools targeted at mid-sized and large organizations.

Blackline is one of the most recognized names in bank reconciliation as it enables the process of matching transactions across multiple sources. These sources usually include bank statements and accounting software used by the organization.

Exception management capabilities in Blackline will help identify and resolve discrepancies–minimizing the need for manual intervention.

We have seen companies that have used Blackline state benefits of operational efficiency, reduced costs, and improved accuracy and compliance with regard to their financial data management. The integration it offers with top accounting software options, such as SAP, Oracle, and NetSuite.

Runner-Up:
BlackLine
★★★★★
★★★★★
(1)

Reconciliation Process
Balance Sheet Integrity
Close Process Management
Increase Accuracy
Streamlined Settlement and Global Visibility
What We Like
Match transactions across multiple sources
Exception management
Real-time visibility into financial data
Overview
Client OS: Web
Deployment: Cloud Hosted

3 Xero

Xero is an accounting software first, but offers bank reconciliation to all customers. This allows users to easily match transactions from their bank statements with those in their accounting system, reducing manual effort and improving accuracy.

Xero’s bank reconciliation feature allows small businesses to easily confirm that all transactions in their bank accounts are accurately recorded in their accounting records.

  • Using the Reconcile tab, users can match bank statement lines from their bank account against transactions in Xero, creating new transactions as needed.
  • Xero lets users know when bank statement lines are ready to reconcile and providing suggestions based on bank rules or previously reconciled transactions.

The feature can connect to over 10,000 banks and financial institutions, making it easy to import transactions and reconcile them in real-time.

Paired with Xero’s suite of other accounting tools, including invoicing, payroll, inventory management, and reporting, Xero makes a great choice for businesses of all sizes. By using Xero, businesses can streamline their financial processes, improve accuracy, and gain real-time insights into their financial performance.

Best for Included Accounting:
Xero
★★★★★
★★★★★
(3)

Dashboard
Expenses
What We Like
Easily confirm bank transactions
Push notifications when bank lines are ready to reconcile
Suggestions based on bank rules
Overview
Price Range: $$
Starting Price: $13/month
Client OS: Web
Deployment: Cloud Hosted

What is Bank Reconciliation Software?

Bank reconciliation software helps automate the financial close process and replaces it with a centralized online system. Preparers using the software can retrieve real-time balances from a general ledger, carry information and open items from prior periods, and compare data from the bank statement and invoices. These account reconciliations can then be signed electronically by the preparer before being sent to a reviewer for approval. Once approved, the data can be stored in the software’s database as an audit trail.

Many account reconciliation software provides unified templates to highlight this reconciliation data and provide a layer of automation to grab financial data from your banks, general ledger, and other accounts. Users can upload supporting documents, leave comments, view company policies and procedures, and electronically view and sign off on bank reconciliations. Rules-based certification tools can help management monitor the process and create dashboard reconciliation reports that illustrate your company’s cash flow.

BlackLine Bank Reconciliation Software
Manage the integrity of your balance sheet with BlackLine.

Features of Bank Reconciliation Software

  • Account transaction matching: Match bank transactions and internal account transactions from multiple sources to each other. Establish matching rules specific to one account or company-wide. Can create matching transactions to solve differences within predetermined tolerances.
  • Reporting: Create reconciliation statement reports that list unmatched records. View suggestions for getting your account into balance. Store reports for future historical reporting and compare the differences in financial statements from previous periods.
  • Issue Management: Identify exceptions, track follow up attempts and roll forward issues into subsequent periods, and resolve via a manual matching clean-up method.
  • Classifications: Match records correctly by assigning appropriate type classes and using that as an attribute during the matching process. Classes can be user-defined or set automatically.
OneStream Financial Consolidations Bank Reconciliation Software
Handle financial consolidations with OneStream.

Benefits of Bank Reconciliation Software

Both large and small businesses will benefit from the use of reconciliation software. Automated algorithms, full bank and ERP integration, and in-depth reporting are a few of the immediate benefits offered to a company looking to implement bank reconciliation software. Larger businesses will benefit even greater as they begin to handle multi-entity accounting or multi-currency accounting, and require managing multiple bank accounts across different stores and regions.

Fully Automate Your Bank Reconciliation

Account reconciliation software provides a level of automation that relies less on manual input from your employees, leaving you more time to analyze reports and improve other areas of your business. Automation will lead to stronger compliance, decreased costs, and speed up the financial close process.

The controls embedded within reconciliation software will improve automation by decreasing the risk of errors. This is accomplished by ensuring all connected balance sheet accounts are reconciled (including new or recently added accounts), sending alerts to the appropriate users for approval or rework, template creation, and storing documents in the right place.

When it comes to inter-company transaction processing, bank reconciliation software will automatically post transactions across different entities at the same time. This will ensure your accounts always balance with one another. Other types of activities that can be automated include journal entries as well as the creation of checklists that can point your staff in the right direction at the month-end close.

CashMatching Bank Reconciliation Software
A list of reconciliations in CashMatching.

Standardize Your Reconciliation Process

Account reconciliation software will help optimize how your reconciliations are presented, which will help improve the quality and accuracy of your financial data. Many companies that perform manual reconciliations will deal with non-standardized methods. This means that their documentation is being recorded in a variety of formats and data is spread thin between different locations. This downside is in addition to the amount of manual labor that is required to perform the reconciliations, meaning their full-time employees are tied up from handling more important tasks.

Reconciliation software will enforce standardized rules for every reconciliation type. When it comes to auditing, bank reconciliation software will give a standardized presentation with your reconciliations and also provide a centralized document repository. Management staff handling approvals will be able to easily monitor the activity of the staff handling the reconciliations.

Cashbook bank reconciliation software
A list of reconciliations in Cashbook.

Reduce Errors and Enhance Internal Controls

Internal controls in your accounting process will assure your organization is being as effective and efficient as possible by providing reliable financial reporting and compliance with any laws, regulations, and policies. Balance sheet reconciliation software will compare your accounts and adequately explain differences between accounts.

The biggest benefit of the internal controls provided via account reconciliation software is the reduction of risk that is prevalent with manual paper-based methods. Electronic processes will help segregate duties between your staff, automatically sync with any accounting software or ERP systems, and detect missing or duplicated transactions.

ReconArt Bank Reconciliation Software Dashboard
View a dashboard of reconciliations in ReconArt.

All Products

No products found
AutoRek Screenshot

AutoRek

★★★★★
★★★★★
(3)
AutoRek is a powerful automated reconciliations solution, coming complete with everything your company needs to streamline your data processes. The solution helps firms simplify the collection, validation and reconciliation of data, as well as providing the transparency and good governance necessary for a comprehensive, automated reporting process. AutoRek’s range of deployments are implemented in many of the world’s largest corporations and vary from complex inter-company reconciliations to
Client OS
Web
Deployment
Cloud Hosted
BlackLine Screenshot

BlackLine

★★★★★
★★★★★
(1)
BlackLine is a cloud financial close solution that helps drive continuous improvement across your finance and accounting organization. The software provides an accurate and effective account reconciliation process that helps produce high-quality and accurate financial statements. @youtube Balance Sheet Integrity: Standardizes and automates reconciliations from the general ledger, balance sheet account, bank accounts, credit cards, cash, and inventory.; Close Process Management: Includes account
Client OS
Web
Deployment
Cloud Hosted
Xero Screenshot

Xero

★★★★★
★★★★★
(3)
We recommend Xero for its user-friendly interface, affordability, and unlimited users per subscription. Xero is responsive and intuitive, with core accounting features in billing, invoicing, purchasing, and expense tracking.
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$13/month
Client OS
Web
Deployment
Cloud Hosted
OneStream Screenshot
OneStream is a corporate performance management software aimed to help enterprises simplify their financial consolidation, planning, reporting, analysis, and data quality. OneStream is a CPM solution meant for use in all areas of your enterprise and is available in the cloud or on-premise. OneStream can be utilized on a per-module basis, meaning your company can manage and upgrade your software by adding one application at a time. This allows the software to have a lower cost of entry and can
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Client OS
Windows, iOS, Android, Web
Deployment
Cloud or On-Premises
CashMatching Screenshot

CashMatching

CashMatching bank reconciliation software from DataLog Finance helps automate the reconciliation of all entries such as accounting entires, bank entries, and more. The software aims to maximize the automatic reconciliation rate. The software is highly customizable, letting you handle all entries manually, semi-automatically, or completely automated. Decrease the number of entries reconciled manually; Decrease the risks of reconciliation errors; Manage large volumes quickly; Benefit from advanced
Client OS
Web
Deployment
Cloud Hosted
Cashbook Screenshot

Cashbook

Cashbook connects your bank accounts with your ERP software through cash application automation, accounts payable automation, and bank reconciliation automation. The software lets you allocate resources to value add functions, helps automate repetitive AP transactions, matches records between your ERP and bank accounts. Cash Application Automation: Bank statement automation, lockbox automation, customer remittances, direct debits automation, factoring automation, draft automation and management,
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$3,000/user (perpetual license)
Client OS
Windows
Deployment
On-Premises
ReconArt Screenshot
ReconArt is a world class reconciliation software designed to work with a large variety of business scenarios. The software is intended to let you leverage the best practices involved with all aspects of reconciliation. The solution is 100% web-based and can be hosted externally or on-premise. Bank reconciliation; Credit card reconciliation; Balance sheet reconciliation and close; Positions, holdings, and trades reconciliation; Accounts reconciliation, AP and AR; Journal entries; Variance
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$300/user/month
Client OS
Web
Deployment
Cloud Hosted
Duco Screenshot

Duco

★★★★★
★★★★★
(4)
Duco is a data quality and reconciliation tool that helps normalize, validate, and reconcile any data in the cloud. The software helps your staff reconcile data within hours and can work for a start-up or a global corporation. Data can be loaded from spreadsheets, CSV, SWIFT, FIXML, and more. The solution includes intelligent automation to workflow issues that need investigating, and help your staff collaborate from anywhere. @youtube The features of Duco include: Ingest and normalise data from
Client OS
Web
Deployment
On-Premises
Bank Rec Screenshot

Bank Rec

Bank Rec from Treasury Software helps quickly and easily reconcile all of your bank accounts by providing high-speed automated transaction management. Customized matching rules help free your staff from time-consuming tasks, and unmatched records can easily be rolled forward to the subsequent period needed until matched. High speed matching; Reconciliation wizards; Identify, track, and resolve; Record type classification; Importing and automation; and Wizard Driven. The cost of Bank Rec starts
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$99.95/month
Client OS
Windows
Deployment
Cloud Hosted
ReconNET Screenshot

ReconNET

★★★★★
★★★★★
(1)
The ReconNET reconciliation system can help you automate over 90% of your financial reconciliation and account balancing processes in a single system. With ReconNET, your staff can do more in less time and focus on resolving exceptions, not discovering them. ReconNET manages reconciliation and research for any type of account — depository, loan, credit/debit card, suspense, unclaimed property, collection, disbursement, General Ledger, vault, teller, ATM, Federal Reserve, and others. With
Client OS
Windows
Deployment
On-Premises
Aptean Industrial Manufacturing ERP Traverse Edition Screenshot

Aptean Industrial Manufacturing ERP Traverse Edition

★★★★★
★★★★★
(4)
Aptean Industrial Manufacturing ERP Traverse Edition is an ERP system from Aptean offering enterprise accounting financial, operations, and sales functionality. Aptean Industrial Manufacturing ERP Traverse Edition provides comprehensive integration for key business processes, while offering the ability to scale from 5 to 500 users. Interactive dashboards help business leaders translate data into the insights require to make profitable company decisions. Aptean Industrial Manufacturing ERP
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$100/user/month
Client OS
Windows, Web
Deployment
Cloud or On-Premises
Bank Link AnyWare Screenshot

Bank Link AnyWare

Bank Link AnyWare empowers you to manage your cash balances quickly and easily. By creating an active link between Sage Intacct and your bank, you can import bank transactions on your schedule. Bank Link AnyWare auto-matches your transactions while allowing you to manually override any match as necessary. When you are finished, post the reconciliation to Intacct Cash Management. Seamless and secure access to banking data; Real time connection to your bank transactions; Cash balancing; and Manage
Client OS
Windows, Android, Web
Deployment
Cloud Hosted
UniversalRecon and QuickApp Screenshot

UniversalRecon and QuickApp

UniversalRecon automatically reconciles data AND metadata between two or more systems. It cuts the cost and effort timeline of the Close by up to 25%. AppScaffold automatically cuts implementation costs by over 30% by automatically reconciling both data and metadata. [[toc]] The tools are cloud based, implement and pay for themselves within hours. The tools free finance professionals to do analytics instead of janitorial reconciliations. Below are videos that discuss both UniversalRecon and
Client OS
Web
Deployment
Cloud Hosted
Ezyrecon Screenshot

Ezyrecon

★★★★★
★★★★★
(3)
EzyRecon is a bank reconciliation program written in Microsoft VBA using the Microsoft Excel® as its user interface. Since the interface is in Microsoft Excel, users can quickly check and modify the result, (i.e. two column AICPA bank reconciliation format), if needed. Not even Microsoft Great Plains® Bank Reconciliation program comes close to it. @youtube With Ezyrecon, to reconcile, all you need to do is to download the book and bank files in an Excel file format. Then, you hit one button
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$1,200/year
Client OS
Windows
Deployment
On-Premises

We searched and searched, but we couldn’t find any products in our database that match your criteria. Perhaps our team of software experts can help? They’d be happy to provide a list of free recommendations that meet your exact requirements.

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