Introducing Ready-Made AI Reconciliations in Cointab

We’re excited to introduce ready-made reconciliation workflows in Cointab for some of the most commonly performed finance reconciliations.

Finance teams can now reconcile books against bank statements, vendor statements, customer statements, intercompany records, credit card statements, and Sales Tax or VAT reports without building a reconciliation workflow from scratch.

Users only need to upload the relevant files, select the date, amount, and identifier columns, and run the reconciliation. Cointab uses structured matching and AI to reconcile transactions and present the results within minutes.

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Ready-made reconciliations now available

Cointab now includes ready-made workflows for:

• Bank Reconciliation
• Vendor Reconciliation
• Customer Reconciliation
• Intercompany Reconciliation
• Credit Card Reconciliation
• Sales Tax / VAT Reconciliation

Each workflow is designed around a common finance process and can be started by uploading the Books file along with the corresponding external statement or report.

For example:

• Books vs Bank Statement
• Vendor Ledger vs Vendor Statement
• Customer Ledger vs Customer Statement
• Intercompany Ledger vs Counterparty Records
• Books vs Credit Card Statement
• Books vs Sales Tax / VAT Report

This helps finance teams begin reconciliation quickly without configuring complex matching logic or creating Excel formulas.

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Upload files and select the relevant columns

To start a reconciliation, users need to:

1. Upload the Books file.
2. Upload the corresponding bank, vendor, customer, intercompany, credit card, or tax file.
3. Select the transaction date column.
4. Select the amount column or columns.
5. Select the identifier columns.
6. Run the reconciliation.

Cointab supports different ways of recording transaction amounts.

Users can choose:

• A single signed amount column containing positive and negative values
• Separate credit and debit columns

This allows finance teams to upload reports in the format already generated by their ERP, accounting software, bank, vendor, customer, card provider, or tax system.

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Select the identifiers used for matching

Users can select one or more columns containing transaction identifiers.

These may include:

• Invoice number
• Document number
• Payment reference
• Bank reference
• Cheque number
• Transaction ID
• Customer reference
• Vendor reference
• Intercompany reference
• Credit card transaction reference
• Tax invoice number
• Other transaction-level identifiers

Cointab uses these identifiers to establish a relationship between transactions on both sides of the reconciliation.

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AI understands variations in transaction identifiers

In real-world data, the same identifier is often recorded differently across two files.

For example, the same invoice may appear as:

• INV-10456
• INV10456
• Invoice 10456
• INV/10456

Traditional Excel formulas or exact matching rules may treat these as different identifiers.

Cointab uses AI to understand such variations and identify transactions that refer to the same underlying invoice, payment, or document.

This helps finance teams find genuine matches even when identifiers have:

• Different prefixes
• Different separators
• Extra spaces
• Additional text
• Missing punctuation
• Different formatting
• Minor inconsistencies between systems

As a result, users do not need to manually clean and standardise every identifier before running reconciliation.

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One-to-one, one-to-many, and many-to-many matching

Reconciliation is not always limited to one transaction matching another transaction.

Cointab supports:

• One-to-one matching
• One-to-many matching
• Many-to-one matching
• Many-to-many matching

This helps handle real-world scenarios such as:

• One payment settling multiple invoices
• Multiple payments being recorded against one invoice
• Consolidated accounting entries
• Split payments
• Grouped settlements
• Partial receipts
• Combined journal entries
• Multiple transactions linked through a common reference

Cointab evaluates the identifiers and amounts across the uploaded files to identify these relationships automatically.

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Transactions are matched only when a common identifier exists

To maintain accuracy and auditability, Cointab automatically matches transactions only when there is a common identifier between the two sides.

The identifiers do not need to be written in exactly the same way. AI can understand variations and formatting differences.

However, there must still be an identifiable relationship between the transactions.

Cointab does not blindly match transactions using only the date and amount.

This is important because two unrelated transactions may have the same date and amount. Automatically matching them without a supporting identifier could create an incorrect reconciliation result.

By requiring a common identifier, Cointab helps keep automated matches reliable, explainable, and reviewable.

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AI suggestions for transactions without identifiers

Some transactions may not contain a usable common identifier.

These transactions are not automatically matched.

Instead, Cointab reviews the remaining open transactions and provides AI-generated match suggestions.

The suggestions help finance users identify transactions that may belong together based on the available information, such as:

• Transaction date
• Amount
• Narration
• Description
• Customer or vendor name
• Payment details
• Reference text
• Other available transaction fields

Users can review the suggested transactions and decide whether they should be manually matched.

This gives finance teams the benefit of AI-assisted review while ensuring that users remain in control of transactions that do not have sufficient information for an automatic match.

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Review and manually match open transactions

After reconciliation is completed, users can review:

• Automatically matched transactions
• One-to-one matches
• One-to-many matches
• Many-to-one matches
• Many-to-many matches
• Unmatched Books transactions
• Unmatched statement transactions
• AI-generated match suggestions
• Manually matched transactions

Where AI provides a suggestion, users can inspect the relevant records and manually confirm the match after applying their business knowledge and judgement.

This is particularly useful when:

• References are missing
• Narrations are incomplete
• The same transaction is described differently
• Payments are grouped
• Transactions are posted on different dates
• Supporting business context is required

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Complete common reconciliations faster

Ready-made reconciliations reduce the time and effort required to perform recurring finance processes.

Finance teams no longer need to repeatedly:

• Create Excel formulas
• Maintain VLOOKUP or XLOOKUP sheets
• Standardise every identifier manually
• Build matching rules from scratch
• Compare thousands of rows individually
• Search manually for possible combinations
• Recreate the reconciliation process every month

Users can upload their files, select the relevant columns, and let Cointab perform the matching.

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Built for recurring finance operations

The same process can be used every accounting period across multiple:

• Bank accounts
• Vendors
• Customers
• Legal entities
• Intercompany relationships
• Credit cards
• Tax registrations
• Business units

This makes the ready-made workflows suitable for daily, weekly, monthly, quarterly, or year-end reconciliations.

By automating transaction matching and helping users review the remaining exceptions, Cointab enables finance teams to complete reconciliation faster while retaining transparency and control.

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Start reconciling in minutes

Ready-made Bank, Vendor, Customer, Intercompany, Credit Card, and Sales Tax / VAT reconciliations are now available in Cointab.

Upload your Books file and the corresponding statement, select the date, amount, and identifier columns, and run the reconciliation.

Cointab will identify one-to-one and grouped matches, use AI to understand identifier variations, and provide suggestions for transactions that require manual review.

Start free:

https://www.cointab.net/