Reconciles accounts fed by:
- Bank accounts
- Stripe
- PayPal
- Shopify
- Amazon
- Uploaded statements
Approved entries post to your ERP.
What is account reconciliation software?
Account reconciliation software proves that the balance of a general ledger account is correct by comparing it with an independent record, such as a bank statement or a payment processor's report, and explaining every difference between the two.
Each difference becomes a reconciling item, such as a deposit in transit, an unbooked fee or a missing refund, or an exception that a person investigates. Good account reconciliation software does this work automatically, keeps the evidence, and records who approved the result. For the basics, read our guide to financial reconciliation.
Greenloom account reconciliation software at a glance
- What it is
- AI-powered account reconciliation software that runs alongside your ERP
- Accounts it reconciles
- Bank and cash accounts, payment processor and marketplace clearing accounts, and customer receipts
- What it compares
- Your ERP balance against bank statements, payout reports and settlement reports
- How differences are handled
- Explained as reconciling items with evidence, or held as exceptions for a person
- Accounting entries
- Proposed for items like unbooked fees, then posted only after approval
- How often
- Every day, so month end starts with most accounts already tied out
- Audit trail
- Every match, reconciling item and approval, with names and times
- Setup
- A 30-minute call to reconcile one account live, with no ERP changes
- Pricing
- One flat monthly fee, free for 20 days with no card needed
Which accounts can Greenloom reconcile?
Greenloom reconciles the accounts where money moves: bank and cash accounts, payment processor and marketplace clearing accounts, and the cash side of accounts receivable. These are the accounts with the most transactions and the most unexplained differences.
| Account | Compared against | Common reconciling items | Greenloom |
|---|---|---|---|
| Operating bank accounts | Bank statements | Deposits in transit, outstanding checks, bank charges, interest | Covered |
| Stripe and PayPal clearing accounts | Processor balance and payout reports | Processing fees, refunds, disputes, payouts in transit | Covered |
| Shopify payouts clearing account | Shopify payout reports | Fees, refunds, payouts that cover several days | Covered |
| Amazon receivable account | Amazon settlement reports | Referral and fulfillment fees, refunds, reserves | Covered |
| Customer receipts and unapplied cash | Open invoices in your ERP | Short payments, lump-sum payments, missing references | Covered |
| Merchant fee expense | Your agreed processor rates | Fees above the agreed rate | Covered |
| Prepaids, accruals, fixed assets, payroll and intercompany | Schedules and subledgers | Amortization, estimates, depreciation | Not covered |
Do you need separate tools for payment reconciliation and account reconciliation?
Not for cash and payment accounts. Payment reconciliation matches individual payouts to sales, and account reconciliation proves the resulting balance. Greenloom does both in one place, because a clearing account only ties out once every payout inside it is explained. For balance sheet accounts outside its scope, such as accruals or fixed assets, most teams keep using their ERP or a close platform. See how the transaction side works on our payment reconciliation software page.
Why do account reconciliations hold up the month-end close?
Account reconciliations hold up the close because a balance can't be signed off while part of it is unexplained. Most of that unexplained part sits in high-volume cash and clearing accounts, where thousands of transactions hide a handful of differences.
Clearing accounts that never reach zero
Fees, refunds and disputes leave small balances that build up month after month.
Greenloom can explainTiming differences
Deposits in transit and outstanding checks need to be tracked until they clear.
Greenloom can explainUnbooked items
Bank charges, interest and processor fees appear on statements before they reach the ledger.
Greenloom can explainUnapplied cash
Customer payments without a reference sit in suspense until someone works out what they're for.
Greenloom can explainReal errors
Duplicate postings, missing entries and fees above contract need a decision.
Needs a personSigns your account reconciliations need automation
Ventana Research found that 53% of companies complete their monthly close within six business days. If your team takes longer, unexplained balances in cash and clearing accounts are a common reason.
Tie out one account live- Your clearing accounts carry balances nobody can fully explain.
- Reconciliations are prepared in spreadsheets and attached to the close checklist.
- "Unreconciled difference" lines get carried forward from month to month.
- Small differences are written off because they cost more to find than they're worth.
- Your auditor asks for transaction detail that takes days to pull together.
What features should account reconciliation software have?
Account reconciliation software should pull data from every system behind an account, match transactions automatically, explain differences with evidence, propose the entries that fix them, and keep a complete audit trail. Here's how Greenloom does each of those.
Multi-system reconciliation
Banks, Stripe, PayPal, Shopify and Amazon are reconciled against your ERP in one place, account by account.
Custom data sources
Upload bank statements and reports from any source on day one, before any connection is set up.
Daily transaction matching
A rules engine matches one-to-one, one-to-many and many-to-many, with tolerances for rounding.
AI investigation of differences
The AI examines every unmatched item against settlement reports, fee schedules, refunds and references, and explains what it can prove.
Clearing account visibility
See what's sitting in each clearing account, how old it is and what's expected to clear it.
Proposed accounting entries
Unbooked fees, refunds and bank charges come with a proposed entry, ready for your team to approve.
Fee checks against your agreed rates
Processor and marketplace fees are compared with your contract, so overcharges show up as their own line.
Structured exception tracking
Each unexplained item has an owner, an age and its evidence attached, so nothing gets carried forward silently.
Review and approval
A named person reviews each reconciliation and approves the entries before anything reaches the ledger.
A complete audit trail
Trace any balance back to the transactions behind it, with every match, explanation and approval logged.
What doesn't Greenloom do?
You should know where any reconciliation tool stops. Here's where Greenloom stops.
- It doesn't reconcile every balance sheet account. Accruals, prepaids, fixed assets, payroll and intercompany stay with your current process.
- It doesn't replace your ERP or general ledger. It works alongside them.
- It doesn't post an entry without approval from your team.
- It doesn't invent explanations. Without evidence, a difference stays open for a person.
How does automated account reconciliation work?
Automated account reconciliation works in six steps. The software pulls the balance and transactions from both sides, standardizes them, matches what agrees, investigates what doesn't, lists the reconciling items, and records your team's approval.
Pull both sides
The ERP balance and its transactions, plus the bank statement or processor report for the same account and period.
Standardize the records
Dates, amounts, currencies, references and transaction IDs are put into one format so they can be compared.
Match transactions
The rules engine pairs every transaction that clearly agrees, including payouts that bundle many sales.
Investigate differences
The AI examines each unmatched item against the evidence available: fee lines, refund IDs, settlement dates and references.
List reconciling items
Proven differences become reconciling items with a reason and a proposed entry. Unproven ones become exceptions.
Review and approve
Your team reviews the reconciliation, approves the entries, and the account is marked reconciled with a name and time.
What is the difference between account reconciliation and transaction matching?
Transaction matching pairs individual lines, such as one payout to one bank deposit. Account reconciliation proves that a whole balance is right at a point in time. You need both: an account only ties out when every transaction behind it is matched or explained.
Clearing accounts show why. Stripe deducts refunds, disputes and fees from the same balance before a payout reaches your bank, so the account can only tie out line by line. That's why Greenloom works at the transaction level first. Once every line in a clearing account is matched or explained, the balance reconciles itself, and the reconciling items are already documented.
- Matched lines need no further work.
- Explained lines carry their evidence and a proposed entry.
- Exceptions go to a named person with everything found so far.
What does an automated account reconciliation look like?
An automated account reconciliation starts with two balances and ends with a short list of reconciling items, each with its evidence. Choose an account to see one.
| Line | Amount | Evidence | Result |
|---|---|---|---|
| Bank side | |||
| Balance per bank statement | $258,912.40 | March statement | Starting point |
| Deposit in transit | +$4,800.00 | Recorded March 31, cleared April 1 | Explained |
| Outstanding checks #4471 to #4476 | −$13,160.00 | Issued in March, not yet cleared | Explained |
| Adjusted bank balance | $250,552.40 | ||
| Book side | |||
| Balance per ERP | $250,430.10 | General ledger | Starting point |
| Bank charges not yet booked | −$45.00 | Charge lines on the statement | Entry proposed |
| Interest not yet booked | +$167.30 | Interest line on the statement | Entry proposed |
| Adjusted book balance | $250,552.40 | Difference: $0.00 | Reconciled |
What your team sees
Both balances agree once four reconciling items are listed. Two need entries, which wait for approval.
The outstanding checks are tracked until they clear, so nobody has to rebuild this list next month.
| Line | Amount | Evidence | Result |
|---|---|---|---|
| Balance per ERP | $62,480.00 | General ledger | Starting point |
| Processing fees not yet booked | −$1,148.60 | Fee lines in Stripe's balance report | Entry proposed |
| Refund not recorded in the ERP | −$120.00 | Refund ID in Stripe with no ERP entry | Entry proposed |
| Difference with no supporting evidence | −$6.65 | Nothing found yet | Exception |
| Balance per Stripe | $61,204.75 | Stripe balance report | 1 item for review |
What your team sees
A $1,275.25 difference becomes two proposed entries and one $6.65 exception, with an owner and the evidence checked so far.
Greenloom doesn't assume the $6.65 is a fee. Without evidence, it stays open.
| Line | Amount | Evidence | Result |
|---|---|---|---|
| Sales recorded in the ERP | $18,900.00 | Orders in the settlement period | Matched |
| Referral fees | −$2,835.00 | Settlement report fee lines | Explained |
| Fulfillment fees | −$1,512.00 | Settlement report fee lines | Explained |
| Customer refunds | −$420.00 | Refund lines with order IDs | Explained |
| Reserve held by Amazon | −$170.50 | Reserve line, released in a later settlement | Carried forward |
| Deposit received | $13,962.50 | Bank statement | Fully reconciled |
What your team sees
An $18,900 receivable and a $13,962.50 deposit, tied together line by line from the settlement report.
The reserve stays on the account as a known item until Amazon releases it.
See one of your own accounts tie out
Bring a month of bank or payout statements for your hardest account. In a 30-minute call, we'll reconcile it live and show you every reconciling item.
Why do finance teams choose Greenloom for account reconciliation?
Finance teams choose Greenloom because the reconciliation is prepared before anyone opens the account, a person still signs it off, and every balance traces back to source data.
The work is done before you look
Greenloom doesn't just track whether an account is reconciled. Its AI prepares the reconciliation, so your team reviews reconciling items instead of building them.
A person signs it off
Your team sees the reasoning and the source data behind every item. Entries post only after a named person approves them.
Every balance traces to its source
From the balance to the transaction to the bank or processor line, every step is logged, so audit samples take minutes to pull.
Is automated account reconciliation audit-ready?
Automated account reconciliation is audit-ready when every reconciling item links to source evidence, a named person approves the result, and your auditor can trace any balance back to the transactions behind it.
For US public companies, Section 404 of the Sarbanes-Oxley Act requires management to maintain and assess internal control over financial reporting, and account reconciliations are one of the most common of those controls. In 2024, the PCAOB updated its standards on technology-assisted analysis, which puts more weight on whether the data behind a number is reliable.
What your auditor gets
| Auditor's question | Where Greenloom answers it |
|---|---|
| What makes up this balance? | The full list of matched transactions and reconciling items |
| What supports this item? | The linked statement, payout or settlement line |
| Who reviewed it, and when? | The approver's name and a timestamp |
| Can I see this sample? | The transaction's full history in one view |
What the audit trail looks like
- Matched 3,412 transactions in Stripe clearingMatched
- Explained: $1,148.60 unbooked processing feesExplained
- Explained: $120.00 refund missing in ERPExplained
- Held: $6.65 with no evidenceException
- Approved by the controller, 2 entries postedApproved
Before you connect live data, we answer your questions on data access, storage and encryption in writing.
How does Greenloom compare with other account reconciliation tools?
Account reconciliation tools fall into four types. Each one puts the work in a different place, so the right choice depends on which accounts take your team the most time.
| Type | Where the work sits | Best fit when |
|---|---|---|
| Spreadsheet templates | People build each reconciliation by hand and attach it to the close checklist | You have a few low-volume accounts |
| ERP reconciliation (NetSuite, QuickBooks, Xero, Sage Intacct, SAP, Oracle, Microsoft Dynamics) | Matches bank lines to items already in the ledger | You have few payment channels and payments carry clear references |
| Financial close platforms | The control workflow across every balance sheet account: preparer, reviewer and certification | Your main need is sign-off across hundreds of accounts |
| AI reconciliation layer, such as Greenloom | Runs alongside your ERP, matches the transactions behind cash and clearing accounts, and explains the differences | High-volume cash and payment accounts are what hold up your close |
Can Greenloom work alongside a financial close platform?
Yes. A close platform manages sign-off across all your balance sheet accounts. Greenloom does the transaction work inside your cash and clearing accounts, so the reconciliation that reaches your close checklist is already prepared and documented. For more on how AI handles that work, read AI reconciliation software.
How do you choose the best account reconciliation software?
To choose the best account reconciliation software, start with the accounts that take your team the most time, then test each tool on one of those accounts using your own data.
| What to check | Question to ask the vendor |
|---|---|
| Account coverage | Which of our accounts can you reconcile, and which can't you? |
| Data integration | Can you read our ERP, banks and payment providers without changes to our ERP? |
| Matching and AI | How do you handle bundled payouts, short payments and missing references? Can you show the evidence for each match? |
| Exception management | How are unexplained items owned, aged and resolved? |
| Accounting actions | Do you propose entries, and does a person approve them before they post? |
| Audit readiness | Can our auditor trace a balance to source and see who approved it? |
| Data security | Where is our data stored, how is it encrypted, and is it used to train models? |
| Time to value and cost | How soon will we see results on our data, and what will it cost at next year's volume? |
What are the best practices for account reconciliation?
- Reconcile high-volume cash and clearing accounts daily, not only at month end.
- Set a materiality threshold so small items are reviewed, not ignored.
- Never carry an unexplained difference forward without an owner and a date.
- Keep the evidence for every reconciling item with the reconciliation.
- Separate the person who prepares a reconciliation from the person who approves it.
- Review your matching rules when a bank or processor changes its report format.
What should you measure?
- Share of transactions matched automatically, and how the vendor counts it
- Number and age of open exceptions at month end
- Unexplained balance carried forward per account
- Days to close
- Hours spent supporting the auditor
Who uses account reconciliation software like Greenloom?
Finance teams use Greenloom when they're paid through several channels and their cash and clearing accounts take longer to reconcile than the rest of the balance sheet.
By industry
E-commerce and direct-to-consumer brands
Stripe, PayPal and Shopify clearing accounts and Amazon receivables that rarely reach zero on their own.
Restaurants and food service
POS sales, delivery app payouts and card deposits flowing through the same bank and clearing accounts.
Consumer packaged goods
High volumes of customer receipts with deductions, and payments that arrive weeks after the invoice.
By company size
Growing businesses
Move cash account reconciliations out of spreadsheets without hiring another accountant.
Mid-market finance teams
Handle short payments, deductions and incomplete remittances across several channels without adding headcount.
Larger finance teams
Prepare cash and clearing account reconciliations automatically, then sign them off in the close platform you already use.
By role
| Role | What changes for them |
|---|---|
| Controller | Cash and clearing accounts arrive prepared, so review replaces preparation. |
| Head of accounting or finance operations | Exceptions have owners and ages instead of rolling forward each month. |
| Treasurer | Cash balances are reconciled daily, so the cash position is known, not estimated. |
| CFO or VP of Finance | A faster close and balances that hold up to the board and the auditor. |
What are the benefits of account reconciliation software?
Account reconciliation software gives you balances you can trust sooner, fewer unexplained differences and an audit trail that's ready before anyone asks for it.
A faster month-end close
Accounts are reconciled every day, so month end starts with most of the work already done.
Fewer unexplained balances
Differences are explained while they're small and recent, not months later.
More accurate books
Unbooked fees, refunds and charges are caught and corrected with proposed entries.
Easier audits
Every balance traces back to source data, so samples take minutes, not days.
A clear cash position
Daily reconciliation means you know what's in each bank and clearing account.
Fraud and error caught early
Duplicate postings and fees above contract stand out as soon as they happen. The AFP found that 76% of US organizations faced attempted or actual payments fraud in 2025.
How much time could automated account reconciliation save?
Move the sliders to match your month. The calculator estimates how many hours your team spends investigating transactions that don't match on the first pass.
- Transactions that need a person
- 500
- Cost per month
- $2,500
- Cost per year
- $30,000
Greenloom investigates these transactions first and sends your team only the ones the evidence can't explain.
Prefer to see real numbers? Reconcile one of your accounts live.
How long does it take to implement account reconciliation software?
With Greenloom, you see one of your accounts reconciled during the first 30-minute call, and you can run a full close in parallel before you pay anything.
- Day 1
Reconcile one account live
In a 30-minute call, we load a month of statements for your hardest account and walk you through every reconciling item.
- Days 1 to 20
Use it free on your data
Add more accounts, connect your sources or keep uploading statements. You don't need a card, and your ERP doesn't change.
- Your next close
Run one close in parallel
Compare Greenloom's reconciliations with your current ones and review any differences.
- After that
Go live account by account
Move each account over once the results agree, starting with the one that takes longest today.
Pricing: one flat monthly fee. Free for 20 days on your own data, with no card needed.
Start my free 20-day trialReconciliation guides and resources
Practical guides from the Greenloom team for controllers and finance operations leads.