QuickBooks
Bank feeds and bank rules
QuickBooks suggests matches for feed transactions and applies your bank rules. Excello confirms the matches and completes the monthly reconciliation.
Automation · Keeping the books
Automated bank reconciliation software that ends with your accounts agreed to the bank.
Excello runs automated bank reconciliation software for you: transactions are matched in your QuickBooks, Xero or Odoo every day, and accountants reconcile each account to its statement at each month-end close.
Accounts without a bank feed are reconciled from the statements you send, so every account is covered, and the month closes within five business days as standard.
Your bank logins stay with you. Feeds arrive read-only.
- Reconciliation
- Matched daily
- Reviewed weekly or daily
- Reconciled monthly
- Closed within five business days
What software for bank reconciliation does, and where accountants come in
The check
How bank reconciliation automation software works at Excello
Five steps
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Step 01
Pulled in
Bank and card activity arrives daily through your accounting software. Statements for accounts without a feed come from you.
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Step 02
Matched
Software matches each bank line to its entry in your books every day, including payouts, transfers and card payments.
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Step 03
Reviewed
Accountants work through unmatched items at every review and ask you about anything only you can explain.
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Step 04
Reconciled
At month-end, each account's closing balance is agreed to its statement, with any open item explained.
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Step 05
Closed
With every account reconciled, the month is closed within five business days as standard.
Bank statement reconciliation software, and everything beyond the bank
What gets reconciled
Bank statement reconciliation software usually stops at the bank. Automated financial reconciliation tools go further, and so does Excello: every account that holds or moves your money is agreed to its source.
| Account | How activity arrives | Reconciled to |
|---|---|---|
| Business bank accounts | Bank feed through your accounting software | The month-end bank statement |
| Credit and company cards, including Ramp and Brex | Card feed or card connection | The card statement |
| Stripe | Stripe connection | Payout reports and the deposits in your bank |
| Shopify, Amazon and Noon | Store and marketplace connections | Settlement reports and the deposits in your bank |
| Loans | Lender statements | The loan statement balance |
| Accounts with no bank feed | Statements you send, as PDF or CSV | Those same statements |
Automated bank reconciliation in QuickBooks, Xero and Odoo
Your ledger
QuickBooks, Xero and Odoo are all capable accounting software for bank reconciliation. Each suggests matches. Excello's accountants make sure those matches are right and that every account agrees at month-end.
Xero
Suggested matches
Xero AI bank reconciliation features suggest matches based on how similar lines were reconciled before. Excello reviews those suggestions and agrees each account to its statement.
Odoo
Reconciliation models
Odoo's reconciliation models propose matches and write-offs for recurring lines. Excello checks what they propose and reconciles each account monthly.
Bank reconciliation preparation software compared with a managed service
Side by side
| What matters | Reconciliation software you run | Excello |
|---|---|---|
| Matching | Automatic, daily | Automatic, daily |
| Unmatched items | Your team investigates | Accountants investigate at every review and ask you when only you can explain |
| Month-end reconciliation | Your team prepares and signs off | Accountants agree every account to its statement |
| Accounts without a feed | You import the statements | You send the statements; Excello reconciles them |
| Where your books live | Your ledger, often with an extra tool connected | Your own QuickBooks, Xero or Odoo |
| Software cost | A subscription for the tool | Included in the bookkeeping plan |
Bank reconciliation best practices
Clean accounts
Five habits that make every month's reconciliation faster, whoever does it.
Keep business and personal spending apart
One stray personal charge on a business card creates a question at every reconciliation.
Record transfers once
A move between two of your own accounts is one transfer, matched on both sides.
Record payouts gross
Book sales, fees and refunds separately, then match the net deposit to the bank.
Send statements for unconnected accounts every month
An account without a feed can only be reconciled once its statement arrives.
Reconcile before you report
Numbers in a board pack or a tax return should come from reconciled accounts.
Reconciliation inside your current accounting software
Nothing to migrate
Frequently asked questions
What is automated bank reconciliation software?
Automated bank reconciliation software matches your bank and card transactions to the entries in your books, so differences stand out without line-by-line checking. Excello pairs that matching with accountants who reconcile every account at month-end.
How often does Excello reconcile my bank accounts?
Transactions are matched daily and reviewed weekly or every business day. Every account is then reconciled to its statement at each month-end close, within five business days as standard.
What if my bank doesn't connect to QuickBooks, Xero or Odoo?
You send the monthly statement as a PDF or CSV file, and Excello reconciles the account from it like any connected account. Your bank login stays with you.
Does Excello need access to my bank account?
No. Bank activity reaches Excello read-only through your accounting software's own bank feeds, and statements for any other accounts come from you, so your bank logins and payment permissions stay with your team.
What happens when a transaction doesn't match?
An accountant investigates it at the next review. Common causes are timing, bank fees and transfers between your own accounts. When a charge can only be explained by you, your accountant asks you about it.
Can Excello reconcile Stripe and Shopify payouts?
Yes. Stripe, Shopify, Amazon and Noon payouts are split into sales, fees and refunds and matched to the deposit that reaches your bank, so revenue shows its full value and the bank still reconciles.
Can you fix reconciliations that are months behind?
Yes, as catch-up work, which is quoted separately. Accountants reconcile each month back to a clean starting point, and the accounts then move onto daily matching and a monthly reconciliation.