Challenge
Every day, the finance team downloads transactions from several bank accounts and matches each incoming payment against the customer invoices still pending in the ERP. With international customers paying in EUR and USD, names rarely match exactly, one payment can cover several invoices, and bank fees and exchange-rate differences change the amounts received. This takes hours of careful work, increases the risk of errors, and limits the team's ability to focus on higher-value activities.
Solution
A virtual worker joins the finance team and takes on bank reconciliation from start to finish every morning. It downloads the previous day's transactions from each bank portal, reads the pending invoices in the ERP, and matches every payment by customer name and amount, following the same rules a finance team member would. It then records each reconciled collection in the ERP, including bank fees and exchange-rate differences. This ensures consistency, traceability, and customer accounts that are up to date every day.
Virtual worker workflow overview
Works with any online banking portal and any ERP (SAP, Oracle, Navision, Odoo, SAGE, etc.)
Resolves differences between bank statements and the ERP, such as customer names written differently, one payment covering several invoices, or bank fees deducted
Handles accounts in different currencies, recording bank fees and exchange-rate differences in the right accounts
Keeps a full record of every reconciled payment and lists any payment it can't match in a daily report for the finance team, ensuring control and traceability
Reconciles the previous day's payments every morning, replacing periodic catch-up work with a steady daily rhythm
Key capabilities
