Question 1

How does Power Reconcile help with bank statement reconciliation?

Accepted Answer

Export your bank statement and your internal records (ledger, accounting software, or ERP) to Excel. Select both data ranges in Power Reconcile, choose a reference column (e.g., check number, transaction ID) and amount column, and the tool automatically matches transactions, identifies discrepancies, and flags unmatched items — all in seconds.

Question 2

Can it reconcile multiple bank accounts at once?

Accepted Answer

You can reconcile one pair of data sets at a time, but the process is so fast (seconds per reconciliation) that reconciling multiple bank accounts takes minutes. Many users reconcile 5-10 bank accounts in under 15 minutes during their month-end close.

Question 3

What about transactions that appear on one side but not the other?

Accepted Answer

Power Reconcile's report clearly categorizes items into four groups: perfect matches, value differences (with exact amounts), items only in the bank statement, and items only in your records. This makes it easy to identify outstanding checks, deposits in transit, bank fees, and other reconciling items.

Question 4

Can it handle different date formats or transaction descriptions?

Accepted Answer

Yes. Power Reconcile matches by the columns you select — typically a reference number and amount. It doesn't require identical formatting across both data sets. As long as there's a common reference field (check number, transaction ID, invoice number), it can match transactions regardless of how descriptions or dates are formatted.

Question 5

What about split transactions or combined payments?

Accepted Answer

Power Reconcile includes a manual reconciliation feature for these scenarios. When one bank transaction covers multiple ledger entries (or vice versa), you can use the manual reconcile dialog to group and match items. This handles the common case of combined deposits, batched payments, and netting.

Question 6

Does it work with online banking exports?

Accepted Answer

Yes. Power Reconcile works with any data you can get into Excel. Whether your bank provides CSV downloads, QFX/OFX imports, or PDF statements that you convert to Excel, the tool can reconcile it against your records. It's compatible with exports from any bank worldwide.

Question 7

What's the pricing?

Accepted Answer

Power Reconcile costs US$14.90/month or US$149/year per user (12 months for the price of 10). Enterprise plans with volume discounts are available for organizations with 10+ users. A free trial is included — no credit card required.

Bank Reconciliation in Excel — Automated

Bank Reconciliation — At a glance

Reconcile bank statements in 3 steps

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