Bank reconciliation

Bank statements and feeds matched to approved activity. A line that cannot be matched with confidence stays open, with the reason. A deposit that is rent plus tax is explained to the cent, against a rate you recorded.

Statements, feeds and files

Connect your bank accounts and Komod pulls the activity when the close runs. Or upload the statement your bank sends: a PDF, a spreadsheet, or a bank export file. Each is read into lines with a date, a description and an amount.

A row Komod could not read with certainty is listed for you to review, with the words it read, and is not imported until you decide. The same statement uploaded twice adds nothing.

One approved entry, or the line stays open

A bank line is matched to the one approved entry it belongs to. When several entries could fit, Komod does not pick; the line stays open and the candidates are listed for you.

Draft entries are never matched. Every match shows its reason. A bank line is posted to the books at most once; a second attempt is refused.

Unmatched deposits, explained

A deposit that is more than the rent due is checked against the tax rate you recorded for that building. When rent plus tax equals the deposit to the cent, the line is explained and the split is prepared: rent to income, tax to the liability account. You confirm it from its card.

When no rate is recorded, Komod asks, and lists the rates it knows as choices. Nothing is ever matched "within a few percent". A deposit that a recorded rate does not explain is shown as a variance, not hidden.

Your books side too

A check register exported from your accounting system is read as the books side of the same money. Its rows land as book entries only after you approve the card, and they are never sent back to QuickBooks, because that is where they came from.

If Komod cannot tell whether a file is a bank statement or a register, it asks you rather than deciding. Nothing is imported either way until you answer.

What you approve

A bank line's match when several entries could fit
A rent-plus-tax split, or the rate to record when none is on file
The rows of a check register before they land on the books
Whether an unclear file is a bank statement or a check register
Each post of a bank line to the books, as a card

What the report shows

Cash and account balances, opening and closing, per account
The payment and receipt schedule, each line matched to the bank
Tax collected on rent as its own line, with the arithmetic
Bank lines still unmatched, counted in the exceptions section

Your first month is free

Let Komod run your next month-end close.

For one month, at no cost, Komod closes the books on your leases, your bank accounts and your QuickBooks. You approve every entry. Tell us a little about your buildings and we set it up with you, hands on.

Try Komod free for a month