A bank reconciliation proves that the cash in your ledger agrees with the bank statement. A daily bank reconciliation matches each bank, card and processor line to its ledger entry as the line arrives, so you see an unmatched item while the person who booked it still remembers why.
Most reconciliations are month-end projects. Someone pulls the statement, someone works the open items, and the result is a spreadsheet that holds true on the day it was signed. In Rever the bank reconciliation is a standing control that five agents share, described on Rever's bank reconciliation page.
Month-end and daily, side by side
| Reconciliation | By hand at month-end | Daily in Rever |
|---|---|---|
| When it runs | Once a month, after the statement arrives | As bank, card and processor lines land |
| Who matches | A staff accountant, line by line | Matcher, on 100% of in-scope activity |
| Differences | A list of open items to research | Traced by Investigator to the transaction, party or timing cause |
| Corrections | A manual entry | Prepared by Journal; after your approval it comes back as an import file your team loads |
| Workpaper | Assembled on request | Kept with the work, ready in Excel |
Matcher: daily bank reconciliation
Matcher reconciles bank, card, payroll and processor activity to the books, including many-to-one settlements, fees and timing differences, and cites every open item. On the AP side it ties each bill to its order, receipt and contract terms, then reconciles the approved bill to the payment and the bank debit. You set its tolerances for value, quantity, rate, date and rounding. A tolerance never drops a transaction from the population: missing evidence and blocked checks stay visible.
Investigator and Journal
Investigator traces an unexplained difference to its cause and recommends the correction. On an invoice it reads the amendment or change order behind the mismatch, as in the freight case, an illustrative three-way match exception, not a customer result. Journal prepares the correcting entry. You approve it from the Inbox, it comes back as an import file your team loads, and Journal checks the result. Neither agent can approve its own proposal.
Spend Guard, before the payment
A duplicate costs money once the AP run pays it. Spend Guard screens every bill for duplicates across orders, bills and payments, price drift against the order or contract, and missed discounts. It requests a hold before the payment run; the hold is recorded in Rever only after you approve it in the Inbox, and your team applies it in the payment run. Sentinel watches the same run for suspicious vendor-bank changes and payment patterns, and for a bank-detail change it prepares an independent callback to a contact you already trust.
Steward and Auditor
A reconciliation can look clean because a feed stopped. Steward watches bank-feed freshness and failed syncs, so a stale statement becomes a health item instead of a false clean reconciliation, and the affected work reruns after repair. Auditor reperforms selected matches and states which procedures it has not yet tested. Evidence links each reconciled item to its statement line, invoice and posting.
Where to start
The zero-day scan is the first pass over your connected records: bank and processor items, duplicates, price drift and three-way match exceptions, across every in-scope transaction in the connected population. In a free Proof of Value it runs on a limited period of your data, and you walk through the supported findings with their evidence.