What the platform does between closes

Both sides run on the same workspace; the split above shows where the daily load lands and where the monthly close tightens. If you need to compare the plans themselves, the pricing page carries the tiers and terms.

1. Bank feed import

   Feed what you can, import the rest

   Transactions arrive from connected Singapore bank accounts on a daily schedule. You set which accounts feed in, which start date to use on first import, and whether historical months are pulled for a parallel run. Statement import covers everything the feed does not — supplementary accounts and the occasional file from a bank that needs a manual download. Either way, the data lands in the same reconciliation workspace.

2. Automated matching

   Score the row, show the reasons

   Each statement line is scored against open ledger entries on amount, date proximity, reference similarity, and counterparty name. High-confidence pairs queue up first; ambiguous ones are grouped for a decision rather than guessed at. The scoring is transparent — you can open any suggested match and see which signals carried it, which is how a reviewer builds trust in the automation instead of accepting it blindly.

3. Multi-currency

   Four currencies, one ledger

   Accounts held in USD, MYR, HKD, or EUR reconcile against SGD books using the rate on the transaction date. The platform keeps the original amount, the converted amount, and the applied rate on the matched entry, so a reviewer can retrace the conversion months later. Realised and unrealised FX gain and loss are separated, so the FX line in your reporting reflects what actually happened rather than a plug figure.

4. GST output

   A GST position you can defend

   GST treatment is attached at the transaction level and reviewed as part of matching. Standard-rated, zero-rated, and out-of-scope entries stay distinguishable in the working view. Reporting draws from that reviewed ledger, so a return traces back to specific entries when someone asks, months later.

5. Cash management

   What cleared, what is available

   A consolidated position across connected accounts, updated as feeds land. It is not a forecasting tool and does not pretend to be one, but it answers the question a finance team asks every morning. Filter by account, currency, or date range, and jump straight from a cash line into the reconciliation for that entry.

6. Review & approval

   Someone signed for this row

   Every match is approved by a named user. The workspace records who confirmed what and when, along with any amount adjustment made at the point of approval. This matters when two people share the reconciliation and one of them is on leave: the state of the close is visible without a handover call.

7. Adjustments

   Reason codes, not mystery lines

   When a difference is genuine and needs a correcting entry, the adjustment is created inside the reconciliation with a reason code attached, and the reason codes roll up into a report you can review monthly. Over a quarter, that report tells you where the upstream problems live: a payment type that always splits, a supplier whose references never match, a bank charge pattern nobody coded.

8. Scope

   What this platform does not do

   Purchase-order matching against invoices is a controls-heavy capability, and it shows up in ERP-grade tools like NetSuite Account Reconciliation because larger finance teams need it. It is a different discipline from bank reconciliation: it protects the payables workflow rather than closing the bank statement. If your procurement volume justifies that control, you need an ERP-class workspace. Reconcilia Cloud stays focused on the bank and ledger layer and will not overstate its reach into procurement.