How It Works

From raw bank data to closed books in four steps

Connect your accounts, let Remitloom run overnight, resolve the short exception list, and export your audit-ready close package. That's the entire workflow.

Workflow steps

60 sec

Initial setup

Nightly

Auto-run cadence

The workflow

Step by step

Connect your bank feeds and accounting platform

Authorize Remitloom to read your bank accounts via open-banking APIs (Plaid or direct bank connections) and connect to your accounting platform: QuickBooks, Xero, NetSuite, or Sage. The setup wizard takes under 60 seconds and requires no technical implementation. Remitloom reads your existing chart of accounts and suggests an initial mapping automatically.

Remitloom ingests and normalizes transactions overnight

Each night at 2 AM, Remitloom pulls every new transaction from your bank feeds. Descriptions are normalized (ACH company names standardized, card merchant names cleaned), amounts are currency-adjusted where applicable, and transactions are indexed against your GL period calendar. By the time your team arrives, the night's data is ready.

AI matching engine compares bank vs. ledger

The matching engine runs a multi-pass comparison: exact match first (amount + date + reference), then fuzzy match (±3 day window, ±0.01 tolerance for FX), then pattern match for recurring vendors and payroll runs. Matches are confirmed automatically. Exceptions are categorized and sent to your review queue with a probable cause label and recommended resolution action.

Resolve exceptions, approve, and export your close package

Work through the exception queue with guided resolution. Each item shows the bank entry, the nearest GL candidate, and a recommended action. One click to accept, reject, or create a new GL entry. When all exceptions are resolved, your reviewer approves the account and Remitloom seals it. Export the close package as PDF or Excel for your auditors.

API access

Automate reconciliation from your own workflows

Trigger reconciliation runs, retrieve match results, and push GL entries via the Remitloom REST API. Integrate with your ERP, close management tool, or BI stack.

# Trigger a reconciliation run for a period
POST /v1/reconciliation/runs
Authorization: Bearer rlt_live_xxxxxxxxxxxx

{
  "account_id": "acct_01HXYZ",
  "period_start": "2025-07-01",
  "period_end": "2025-07-31"
}

# Response
{
  "run_id": "run_01IABC",
  "status": "queued",
  "matched": null,
  "exceptions": null
}

FAQ

Common questions about the reconciliation workflow

How long does initial setup take?

Most finance teams complete initial setup in under five minutes. You authorize your bank connection via Plaid or direct API, connect your accounting platform with OAuth, and Remitloom reads your chart of accounts automatically. There's no data migration, no configuration spreadsheet, and no implementation consultant required.

What happens to transactions that don't match?

Unmatched transactions land in your exception queue, categorized by probable cause: timing difference, missing GL entry, duplicate, coding error, FX variance, or split payment. Each exception includes the bank transaction details, the nearest GL candidate (if any), and a recommended action. Most exceptions are resolved in one click.

Can Remitloom post entries back to my accounting platform?

Yes. When Remitloom identifies a missing GL entry as the exception cause, it can generate the journal entry and push it back to QuickBooks, Xero, or NetSuite upon your approval. You review the proposed entry before it posts, and every auto-generated entry is logged with a Remitloom reference ID for audit traceability.

Does Remitloom support multi-entity and multi-currency books?

Multi-entity consolidation is available on the Growth and Finance plans. Each entity has its own workspace with separate bank feed connections and GL mappings. Multi-currency is supported on all plans: Remitloom captures the exchange rate at settlement time and reconciles in both the transaction currency and your reporting currency.

How does the audit-ready close package work?

Once all accounts are approved for a period, Remitloom compiles a close package: bank-to-GL tie-out summary, per-account reconciliation workpapers, exception resolution notes with timestamps and preparer names, and reviewer sign-offs. The package exports as a single PDF or a structured Excel file. Most auditors accept it on the first request without requesting additional documentation.

Try it yourself

Run your first reconciliation tonight

Connect your accounts in 60 seconds and let Remitloom show you how many of your transactions it can match automatically.

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