E-reconciliation is digital until someone objects.
iFinances matches account statement, bank statement and e-invoice (e-Fatura) lines, then produces the balance confirmation letter.
Line confirmed in three sources
It feeds the letter summary with its evidence.
The e-reconciliation letter is the outcome; matched lines are the evidence, not silence.
Illustrative screen · sample data
This page explains e-reconciliation, the electronic confirmation of an account balance with a counterparty (e-mutabakat in Türkiye). Accounting managers and CPAs get a letter backed by matched lines and any dispute visible on day one.
A classic e-reconciliation tool compares two numbers. Your account 120 (trade receivables) shows TRY 1,250,000.00 and the counterparty's account 320 (trade payables) shows the same. Yet invoice FT-2026-0412 for TRY 48,250.00 may be missing on their side, while a payment is entered twice. The two errors cancel out, the letter is confirmed, and both errors stay in the books.
iFinances changes the order. Your account statement, bank statement and e-invoice list are matched line by line first. The counterparty uploads its own statement through a secure link, and those lines are compared with yours. Only then is the letter produced, stating the balance per currency with a serial number.
Why is classic e-reconciliation not enough?
Speeding up letter dispatch is useful. But the letter still carries only one number. The gap is in the line record missing behind it.
One number, zero lines
A balance confirmation states only the period-end balance, for example TRY 1,250,000.00 as of June 30, 2026. Two errors that cancel each other do not disturb that number. The counterparty confirms it and both errors roll into the next period.
Silence is taken as acceptance
No reply arrives within 30 days, and the balance is assumed accepted. Article 94 of the Turkish Commercial Code sets the one-month objection period for written current-account agreements. Without such an agreement, an unanswered letter is not comfort but an open item.
The counterparty must register
Your supplier's accountant is told to open a portal account. Most will not. They print the PDF, sign it, scan it and e-mail it back. The digital process falls back to paper.
An objection starts a search
The counterparty reports TRY 1,201,750.00 and you expect TRY 1,250,000.00. The difference is TRY 48,250.00, but the letter does not say which document caused it. Two statements are laid side by side and the difference is hunted by hand. The exchange drags on for weeks.
Credits and packages
Tools priced per dispatch charge for every letter sent. Reconciliation that should run monthly drops to twice a year. The difference gets more expensive to find as it grows.
The gap after Ba-Bs
The Ba-Bs forms, Türkiye's monthly purchase and sales listings, were abolished from the September 2024 period. The filing that made two companies confront each other's records is gone. Without a line-level comparison in its place, a company cannot see whether the counterparty recorded the same invoices.
How does it work?
In iFinances, e-reconciliation is not a separate module. It is the last step of three-source matching. The order matters. Lines first, letter last.
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Upload your own side
You upload your account statement, bank statement and e-invoice list as Excel or CSV. If you set up a direct connection, the data arrives on its own. iFinances recognizes the format from its content and resolves debit and credit signs. It asks you about any column it does not know.
statement_2026-06.xlsx · 1,284 lines - 2
Invite the counterparty
You pick the contact at the counterparty and send the invitation. iFinances creates a personal, time-limited secure link. The counterparty uploads its own account statement as it is, with no account to open. The contact and its permission are recorded on your side.
Link · 20.06 · counterparty uploaded - 3
Let the lines match
iFinances matches both sides on amount, date and document number. A transfer of TRY 48,250.00 dated June 18, 2026 is proposed against invoice FT-2026-0412. Partial payments are split, bulk payments allocated, exchange differences valued at the TCMB (Central Bank of Türkiye) rate. Every proposal comes with a written reason, and the decision stays with you.
Receipt 18.06 ↔ Payment 18.06 ✓ - 4
Produce the letter
You review the open-item list and produce the letter. iFinances generates it as a PDF. The letter carries the opening balance, invoices, returns, receipts and net balance per currency, with a serial number. The line-level matching record stays attached to the letter on the platform.
Letter 2026-06/0031 · ₺ · net 19,400.00 - 5
Archive the confirmation
The counterparty confirms or objects through the same link. If it objects, the disputed line is already visible in the list. iFinances archives the signed copy per counterparty and per period. When the auditor asks for Q2 2026, the file is found, not searched for.
Confirmed 24.06 · signed copy archived
Is a dispatch tool the same as reconciliation?
Tools that speed up sending letters are a real convenience. But sending and matching are different jobs.
- Sends the balance, collects the reply
- Compares two numbers
- Counterparty opens a portal account
- An objection means a manual search
- Credits per dispatch
- Signed copies live in e-mail
- Matches the lines first, then produces the letter
- Compares every invoice and payment one by one
- Counterparty uploads through a secure link, no account
- The disputed line is already in the list
- Frequency is not limited by cost
- Signed copies archived per counterparty and period
What do you hold when the letter is confirmed?
A confirmed balance is not a number standing alone. Behind it sits a matching record written that day.
You see which lines make up the confirmed TRY 1,250,000.00 balance. Errors that cancel each other cannot hide in it.
When an objection arrives, the disputed line, say FT-2026-0412, is known on day one. Weeks of statement correspondence shrink to a short list.
The signed copy and the matching record sit together. When the auditor asks for one counterparty and one period, no search begins.
Start with one counterparty and see the record behind the letter
Bring the statement of your most disputed counterparty and the last statement they sent you. In thirty minutes we match the lines and read the open-item list together. Then we produce the letter on top of it.
Frequently asked questions
E-reconciliation is sending a counterparty its account balance electronically and collecting a confirmation. Classic tools automate the sending and collecting. They compare two balances, not the lines. iFinances matches the lines first and produces the letter on top of that record.
No. The counterparty receives a personal, time-limited secure link. It uploads its own account statement and confirms or objects. There is no account to open and no software to install.
Not always. Article 94 of the Turkish Commercial Code sets the one-month objection period for written current-account agreements. Without such an agreement, silence may not amount to acceptance. That is why iFinances does not treat an unanswered letter as confirmed. It stays listed as an open item.
No. The letter states the balance per currency and a period summary. The line-level matching record is not an attachment. It stays linked to the letter on the platform, where the counterparty and the auditor can see it.
It is not a legal obligation, but the need has grown. The Ba-Bs forms were abolished from the September 2024 period. No periodic filing makes two companies compare their books anymore. Seeing that a counterparty recorded the same invoices now means line-level reconciliation over e-invoice data and account statements.
The classic answer is year end and interim periods. In iFinances, line matching runs whenever data arrives. Reconciling monthly or even weekly therefore adds no cost. The letter is produced only for the periods you choose.
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