By reconciling documents with bank transactions, you always know which invoices have been paid and which are outstanding. With partial payments, you know exactly how much is still to be paid.
Whenever a transaction or a document is created on the platform, we automatically suggest reconciliations with similar amounts.
This saves the manager time, as they only need to accept our smart suggestions.
When our artificial intelligence cannot find the matches between documents and transactions, manual reconciliation is sometimes needed.
For those cases, the screen offers a range of filters you can apply to find specific documents and transactions. That way, you can reconcile multiple documents or transactions at the same time.
Average time per day spent on manual reconciliation
Monthly salary of the employee in charge of reconciliation
TOTAL COST OF MANUAL RECONCILIATION
2
950
36.36
h/day
€/month
€/month
Manual reconciliation is an exhausting process. It means going to each bank, downloading all the statements and then checking by hand which transaction matches which invoice.
We provide a simple example calculation to help your company see what manual reconciliation costs. You will most likely find that you spend more on an employee's time doing it by hand than on the total cost of all the features available in MagniFinance.
Whenever you issue a document with a Multibanco reference and that reference is paid, the invoice is reconciled automatically. Just activate our integration with LusoPay to get this feature, which saves the manager a great deal of time.
