Bank reconciliation: statements imported, every transaction explained
A bank statement tells you what came in and went out, not why. The Finance module imports your statements, recognises the account, then links each transaction to the invoice it settles, the expense it pays or the transfer between your accounts it represents. What still needs explaining sits in a single queue.
How it works
- Upload a statement as CSV, XLSX, OFX, CAMT.053 or PDF, or several files at once
- MyFact attaches the statement to the right account by its identifier (IBAN, account number); an unknown account is created from what the statement shows, and you are asked for anything missing
- Preview before importing: lines read, rejected lines with their line number, duplicates already imported or likely
- On the reconciliation screen, each transaction gets matches ranked by likelihood; one click runs automatic reconciliation for the page
- You confirm, link by hand or set aside what is left, and every link can be undone
An import you can check
When the statement prints its totals (debits, credits, opening and closing balance), MyFact checks them against the lines read. A line lost to a misread column shows up at once instead of weeks later. The check qualifies the import; it never blocks it.
A PDF statement is first read from the position of the text on the page. AI only steps in when that reading fails or contradicts the totals, and the screen then says the reading was assisted.
Reconciliation that decides only when it is sure
A match is scored on document number, amount, counterparty and date; the direction of the movement is a hard filter. Above 75% confidence, automatic reconciliation links the transaction; below, it suggests. When two candidates are equally plausible, you decide.
What you get
- One transaction can settle several invoices or pay several expenses at once
- An invoice matched to a payment counts as paid in your client indicators
- Transfers between your own accounts are detected and inflate neither income nor expenses
- Bank charges, FX fees and gaps become attached fee lines, without touching the amount the bank debited
- Each transaction gets a type (payment, withdrawal, tax, loan, capital contribution…), which AI can suggest for a whole page
- A comment and a link to a document stored elsewhere, on top of attached documents
Good to know
- No automatic bank connection: transactions come in through a statement you export from your bank and upload
- The amount read on the statement is authoritative: it is not edited with a click, and fees are added alongside
- Deleting a transaction or an account is a soft delete: it leaves the screens, its reconciliations are closed and imported statements are kept
FAQ
Does MyFact connect directly to my bank?
No, and that is deliberate. There is no aggregator and no automatic sync: you export the statement from your bank and upload it to MyFact. Nothing depends on permanent access to your accounts.
Which statement formats are supported?
CSV, XLSX, OFX, CAMT.053 and PDF. For a CSV or Excel file, you tell MyFact what the columns mean: one signed amount, or separate debit and credit columns. OFX and CAMT.053 carry their own structure.
What if I import the same statement twice?
The preview separates transactions already imported, recognised by the bank identifier, from likely duplicates, spotted by account, date, amount and label. You can choose not to import duplicates.
Can an automatic match be undone?
Yes. Each link shows whether it came from a confirmed suggestion or a manual selection, and can be undone from the transaction, which then goes back to the queue.
Is the Finance module in the free plan?
Yes. Accounts, statement import and reconciliation are open to every plan, the free one included.
Your bank statement, finally explained
The Finance module is included in every plan, the free one too. Upload a statement and see what already matches your invoices and expenses.
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