Three-source reconciliation
Three-source reconciliation compares ledger or ERP records, the bank statement and e-invoice data in a single table. The point is that when two sources disagree, a third one decides which of them is right.
The three sources matter because they are produced independently. The ledger is the company's own record and carries the company's point of view. The bank statement belongs to the bank and cannot be edited by the company. E-invoice data is the official electronic copy of the document itself: in Türkiye, invoicing between registered taxpayers runs through the Revenue Administration's e-Fatura system, while e-Arşiv covers documents issued to everyone else. The Revenue Administration reported roughly one billion e-invoices and eleven billion e-archive documents for 2024, across 1,565,603 registered e-invoice taxpayers, so the document side is largely electronic and genuinely comparable. iFinances brings the three together in one table; data can arrive by file upload or through the direct connection a system offers, and the route is chosen together at setup.
A two-source comparison often leaves the decisive question open. When your ledger disagrees with a counterparty's statement you hold two claims and no referee, and the correspondence that follows tends to be each side repeating its own screen. The third source acts as that referee. E-invoice data answers whether the document was actually issued; the bank statement answers whether money actually moved. The difference list then stops being a set of disputes and becomes a set of addressable causes, such as a missing document, a receipt posted to the wrong account, or an invoice recorded twice, each of which can be assigned to an owner.
The usual objection is that this must be three times the work. In practice it is the opposite, because when the three sources sit side by side the reason for most differences is visible without a separate investigation. A second misunderstanding is to treat it as a statutory filing. Türkiye did have a statutory cross-check in the Ba-Bs forms, under which buyers and sellers reported their counterparties to the tax authority; those forms were abolished from the September 2024 period by General Communique No. 565 on the Tax Procedure Law, published in the Official Gazette of 25 September 2024, no. 32673. Three-source reconciliation is an internal control, not a replacement filing.
Example
An illustrative case. A supplier reports a receivable of 480,000 TRY while your books show a payable of 435,000 TRY, a gap of 45,000 TRY. The bank statement contains no payment of that size, so the explanation is not on the cash side. E-invoice data, however, holds an inbound invoice of exactly 45,000 TRY for the same period that was never posted to the ledger. Placed side by side, the gap stops being a dispute and is named as an unrecorded invoice, then closed with a single entry. Figures are illustrative.
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