Bank reconciliation software · Included with every plan

Bank reconciliation software automates the matching of bank statement transactions with your accounting records. It is the bank end of account reconciliation software, and MatchIQ is the reconciliation tool for it: 5,000+ transactions a second, with every discrepancy listed for you to resolve. You need it to take the hours out of matching, remove manual errors and keep your books in line with accounting standards. With ReconcileIQ, MatchIQ is just the beginning. CodeIQ automates the coding, LedgerIQ adds 44 financial analysis modules, and PrepIQ prepares year-end working papers. Doing one by hand? Our free bank reconciliation template sets out the statement.

MatchIQ works with any bank worldwide. The universal parser reads digital PDFs, scanned statements, phone photos and CSV/Excel exports. No bank-specific template required. It is field-tested with Lloyds, HSBC, NatWest, Monzo, Metro Bank, RBS, Wise, Starling, Tide, Barclays, Santander, Halifax, TSB, Revolut, Chase UK and many others, and it reads formats it has never seen before.

MatchIQ accepts every common input: CSV and Excel files from any bank, digital PDFs, scanned statements, even phone photos of paper statements. Or connect via OAuth to QuickBooks, Xero, Sage, Pandle, FreeAgent or YNAB for direct pulls. The automated bank statement reconciliation engine processes transactions at 5,000+ per second, handling batch payments, date variances and fuzzy description differences. After reconciliation, CodeIQ codes the transactions, LedgerIQ turns the GL into 44 analysis modules, and PrepIQ can prepare the year-end set.

Yes, most of it. A reconciliation is mainly matching, and software does that faster and more consistently than a person: MatchIQ pairs exact and near matches first, allowing for dates a few days apart, batch payments and descriptions that differ between the bank and the books. What is left is ranked by likelihood with a confidence score, so you accept the suggestions you agree with in one click and spend your time only on the true exceptions. You approve every match.

There are five. Get the bank statement and the bank account in your books for the same period. Match each statement line to its entry in the books. List what is left: payments not yet cleared, deposits in transit, and bank charges, interest or direct debits not yet recorded. Correct the books for the items that belong in them and note the timing differences. Then check that the adjusted bank balance equals the adjusted book balance and sign it off. MatchIQ does the matching and the listing for you, so the last step is a check rather than a hunt.

Partly. Formulas such as XLOOKUP or SUMIFS can tick off lines where the amount and date agree exactly, but they struggle with batch payments, dates a few days apart and descriptions that differ between the bank and the books, and every month starts with pasting the data in again. MatchIQ takes the same CSV or Excel files, handles those cases and exports what is left as a list to clear.

Yes. MatchIQ has a permanent free tier rather than a time-limited trial: no card, and 1,000 one-off credits, enough to reconcile 1,000 statement lines at one credit a line (converting a PDF statement uses two a line). Starter at £10 a month adds 5,000 credits every month. Prefer to work in a spreadsheet? Our free bank reconciliation template is laid out for it.

MatchIQ uses bank-level AES-256 encryption for all data. Bank statements are matched in memory on our London servers and are not kept afterwards; your reconciliation history stays in your own browser. For debugging and quality checks we keep matching statistics for 90 days: amounts, dates and a hashed form of each description with its first word. Scanned or unusual PDF statements are read with Google's Gemini API, which does not train on them. We're GDPR compliant, ICO registered, and working towards SOC 2 Type II certification.

It depends on your volume, so the calculator on this page works from your own figures: the hours you spend reconciling each month and your hourly rate. It assumes the matching takes a twentieth of the time it takes by hand; you still review the exceptions it flags. At 10 hours a month and £50 an hour, that is about £475 a month of your time back.

By hand in a spreadsheet you match a few hundred lines an hour, and errors slip through. MatchIQ matches 5,000 transactions a second, flags every discrepancy, duplicate and missing entry, and keeps a full audit trail. A year of books that takes a day by hand finishes in minutes.

Xero and QuickBooks only reconcile the data already inside them. MatchIQ works across platforms and off-platform. Upload a statement in any format, whether CSV, PDF, scan or phone photo, match it, then push the fixes back to Xero, QuickBooks, Sage or Pandle as proper journals. It reconciles banks and formats your accounting software cannot import. Reconciling inside the platform instead? See our guides to Xero bank reconciliation and QuickBooks bank reconciliation.

Yes. The universal parser turns any bank statement, whether a digital PDF, a scan or a phone photo, into clean, structured CSV with dates, descriptions and amounts. No per-bank template is needed, so it handles statements it has never seen before.

Yes. Invoice and payment reconciliation is the second method, included with the first. Upload your invoices and your payments, and it matches each invoice to the payment that settled it, weighing amount, description and date. You get the matched pairs, the invoices missing from your books and the payments to remove, each with a confidence score.