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Reconciliation workflow
Reconcilia Cloud runs the daily match for Singapore finance teams between their bank feed, their ledger and their GST position — and leaves the approval where it belongs, with a person who signs it.
Amount, date proximity and reference agree — proposed for approval, not posted.
Where automation ends
Matching is the easy part to describe and the hard part to trust. The workflow is built so that speed never quietly becomes permission — every proposal carries the amounts, the date window and the reference it matched on, and nothing reaches the ledger until someone accepts it.
The sequence
This is the order a Singapore finance team actually works in. Seven steps, each one telling you what the platform handles and what still waits for a person.
Step one
You authorise a bank feed for each account you want reconciled. For the first import you choose a start date, and most teams pick the beginning of the previous month so the platform's output can be checked against a close they already finished manually.
Supplementary accounts come in through statement import. A separate account is not a reason to leave part of the reconciliation outside the workspace.
Step two
Incoming rows are cleaned before matching: dates parsed, reference strings trimmed of bank formatting noise, counterparty names extracted where the feed provides them. Currency and account context are attached to every row.
This step is invisible in the interface, which is the point. Normalisation is what makes the matching score meaningful instead of a string comparison that fails on an extra space.
Step three
The platform proposes pairs. Amount equality or near-equality carries the most weight, then date proximity inside a configurable window, then reference and counterparty signals. Each proposal arrives with its evidence visible.
You can accept in bulk for the confident band and review the rest individually. Splitting that decision is what keeps the process fast without turning it into rubber-stamping.
Step four
What remains is grouped by cause. Each cleared exception teaches the platform a pattern, so the same supplier reference next month is more likely to match on its own. That is the compounding effect worth watching in your first quarter.
One bank line, several ledger entries. Matched against each entry in turn.
Coded against an existing rule, or flagged when the rule no longer fits.
Assigned to gain or loss, with the rate context visible on the row.
Flagged for removal upstream rather than reconciled twice on the ledger.
The same motion, six ways
Six moments of the same sequence — statement off the desk, the lock at the rule, the exception folder, the lines entered by hand, the close, and the review that keeps the audit trail honest.
Six frames, one workflow — you can run all of them in your first month.
After the match
Matching is the loud part of the workflow. Three quieter practices decide whether your first quarter of it goes well — how differences become journals, how the first month runs beside your old process, and what the calendar looks like after that.
Step five
Genuine differences produce a correcting journal with a reason code attached. Reason codes are chosen from your own list, which means the monthly report reflects your categories rather than a generic taxonomy.
Reviewing reason codes monthly is the cheapest process improvement available to a small finance team: it points at the source of most recurring exceptions.
First month
Run the platform alongside your existing process for one cycle. Compare matched volume, exception categories, and the time the close took.
Most teams find the useful output of a parallel run is not the time saved but the exception report. It tells you which upstream habit was costing you the most hours.
From month two
Daily feed lands overnight. Weekly, someone clears the exception queue, which keeps it to a manageable size. Monthly, GST review, close, and lock.
Two people can run this cadence for a small SME. The work is scheduled instead of accumulated, which is the difference between a close that finishes on day three and one that runs into the following week.
Steps six and seven
Step six
With the ledger matched, GST treatment is reviewed at line level. Entries carrying standard-rated tax, zero-rated exports, and out-of-scope items are distinguishable in the working view.
This review is quick when the coding is clean and revealing when it is not. Either way, it happens before the return is built rather than after.
Review GST and IRAS supportStep seven
The close is a state rather than a document. When every account shows reconciled, the period is lockable, and the GST position for the period is final for reporting purposes.
Locking a period protects it. Later edits require an explicit unlock with a reason, which keeps your audit trail meaningful.
On purpose
Someone approves matches. That is not a limitation to work around; it is the control that makes the automation auditable. A tool that posts matches without a named approver creates a problem the first time an auditor asks.
Splits, genuine FX differences, and miscoded entries also stay with a person. Judgement about accounting treatment belongs to your team, not to a scoring model.
The tool proposes. A person signs. That sentence is the whole control, and it is the one an auditor will ask you to prove.
Subscription
A monthly subscription for the finance team that runs reconciliation in-house. Pick the payment frequency that matches your own calendar.
Monthly subscription
Billed each month per workspace
Add seats as you go
Each seat runs the same workflow
Prices and included limits are listed on the pricing page.
