Confirm your payments against the bank statement, not your ledger.
Every bank statement line is tied to the right customer and invoice. The reason is written down.
Match proposal ready
Three checks passed, reason written.
Every proposal arrives with its reason; nothing you have not approved becomes final.
Illustrative screen · sample data
This page explains how bank reconciliation works in iFinances. Accounting managers and collections teams see who sent each transfer and which invoice it cleared, with the reasoning.
Here is an example. The statement dated 18.06.2026 shows an incoming transfer of TRY 48,250.00. The description says only "POYRAZ MET". Bank reconciliation ties this line to the Poyraz Metal account (account 120, trade receivables). It clears invoice FT-2026-0412. Until that link exists, an agreeing balance does not mean the account is reconciled.
Why do bank statements resist matching?
Most statement lines look clean. The difficulty shows up in these six situations, and each needs its own answer.
Unidentified transfers
The statement says "POYRAZ MET", the customer record says "Poyraz Metal San. ve Tic. A.S.". The name is abbreviated and the description is cut off. Tying the line to a customer needs name similarity, amount and date weighed together.
Bulk payments
A customer paid five invoices with one transfer. The TRY 48,250.00 transfer clears three invoices in full and one in part. A single statement line has to match several invoice lines.
Value dates
The transfer was made on 30.06.2026 and the value date is 01.07.2026. The value date, the day the bank credits the funds, fell into the next month. The same money shows up in two periods.
Charges and commission
The invoice is TRY 48,250.00 and the account received TRY 48,190.00. The TRY 60.00 gap is a bank charge. That is a separate expense item, not an unexplained variance.
Returns and reversals
A payment came back because the receiving account was closed. The statement shows two lines, one out and one in. They cancel each other, but both stay in the ledger.
Duplicates
The same transfer arrived through the ERP connection and was also keyed by hand. The bank balance looks right. The open-item list shows the invoice cleared twice.
Upload the statement, let the lines find their invoices
The bank statement matches on the same screen as the customer statement and the e-invoice (e-Fatura) data. Each step below says what you do and what iFinances does.
- 1
Upload the statement
You upload the Excel or CSV statement from your bank on the data upload screen. iFinances detects the column layout and the debit/credit sign convention. For example, TRY 48,250.00 in the "Incoming Transfer" column is read as a receipt.
Statement: 18.06 · POYRAZ MET. · 48,250.00 - 2
Tie the line to a customer
You make sure your customer list is loaded. iFinances compares the sender name against customer records with Turkish-character folding. Folding treats dotted and undotted I, or S with and without cedilla, as the same letter. The "POYRAZ MET" line is proposed for the Poyraz Metal record.
POYRAZ MET. ≈ Poyraz Metal San. Tic. Ltd. - 3
Apply the payment to invoices
You choose the clearing rule. FIFO, which clears the oldest invoice first, or clearing against a specific invoice. iFinances allocates TRY 48,250.00 across the open invoices. FT-2026-0412 is cleared in full and the remainder is applied to the next invoice as a partial payment.
→ INV-0412 · 48,250.00 ✓ - 4
Classify the differences
You wait at this step. iFinances lists charges, value dates, FX differences, returns and duplicates under separate labels. The TRY 60.00 bank charge is set aside under "charge". Foreign-currency amounts are converted at the TCMB (Central Bank of Türkiye) rate.
Transfer fee 185.00 · own line - 5
You make the call
You see every proposal on the approval screen. iFinances writes the reason. A typical reason reads like this. "Amount agrees exactly, date is 3 days after the invoice due date, name similarity is high." Nothing is final until you approve it, and no line is cleared on its own.
Approve · reason recorded
Seeing a balance and matching a line are different jobs
Seeing all your bank accounts on one screen is useful. But a balance does not tell you which transfer cleared which invoice.
- Shows balances in one place
- Gives a transaction list
- An unidentified transfer stays unidentified
- A bulk payment is one line
- Shows your cash position
- Ties each line to an invoice
- Says which invoice the transfer cleared
- Name similarity proposes the customer
- A bulk payment is spread across invoices
- Keeps the open-item list correct
What do you gain at month end?
The close calendar starts with bank reconciliation. When a transfer is tied to its invoice the day it arrives, the month-end wait goes away.
The open-item list is current every day. You see which invoice is still open without waiting for month end.
Collections sees that TRY 48,250.00 came from Poyraz Metal. Nobody calls the wrong customer.
The bank reconciliation schedule your auditor asks for is produced from matched lines. The reason sits next to every line.
Try it on your own statement
Bring one month of bank statements and your customer ledger movements. We will see together how many lines match on their own, and why the rest wait for approval.
Frequently asked questions
No. The Excel or CSV statement downloaded from your online banking is enough. You upload it on the data upload screen and the matching works the same way.
The sender name is compared against your customer records with Turkish-character folding. Amount and date proximity are weighed as well. For example, the "POYRAZ MET" line is proposed for the Poyraz Metal record. The result is a proposal with its reason written out, and you approve it.
The transfer is spread across the invoices. A TRY 48,250.00 payment clears FT-2026-0412 and two more invoices in full. The remainder goes to the next invoice as a partial payment. Any leftover stays visible as an open item rather than disappearing.
No. Say the invoice is TRY 48,250.00 and TRY 48,190.00 arrived. The TRY 60.00 charge is labeled as its own item. The invoice counts as paid and the charge never lands in the unexplained list.
You keep producing it. The difference is this. The schedule is now built from the matched lines you approved, not typed by hand. A written reason sits behind every line.
30 minutes. With your own data.
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