Accounting
What is Bank Reconciliation?
Bank reconciliation is the process of comparing a company's cash records in the general ledger against the bank statement to ensure they agree, and identifying and resolving any differences.
Explanation
Bank reconciliation is typically performed monthly and is a critical financial control. In manual workflows, it involves exporting the bank statement, comparing each transaction line against the GL, marking matches, and investigating unmatched items. For businesses with high transaction volumes, this can take days. AI-powered bank reconciliation automates the matching step: the system reads the bank statement PDF, extracts transactions, matches them against GL entries, and flags only the unmatched items for human review. Match rates of 90–95%+ are typical, reducing manual reconciliation time from days to hours.
How Rima relates
Bank reconciliation is one of Rima's most common Blueprint use cases — extracting bank statement transactions and matching them against your records automatically.
Explore reconciliation automationRelated Terms
Accounts Reconciliation
The process of verifying that two sets of records agree — typically an internal account balance against an external statement.
Data Extraction
The process of retrieving specific data from source documents or systems for further processing.
Audit Trail
A chronological record that traces every action taken on a document or transaction back to its source.
Month-End Close
The monthly accounting process of finalizing all transactions, reconciling accounts, and producing financial statements.
See it in action
Rima automates the manual document workflows accounting teams spend hours on every week.