New mobile app
| Try it for free!
By reconciling documents with transactions, you will always know which invoices have been paid and which are outstanding. With partial payments, you will even know exactly how much is outstanding at all times.
Whenever there is a transaction or a document is created on the platform, we automatically suggest matches with similar items and values.
This helps to save the manager’s time, as they only need to accept the smart suggestions.
When matches between documents and transactions are not found by our artificial intelligence, manual reconciliation is sometimes required.
We have various on-screen filters available that can be applied to find specific documents and transactions. As a result, you can reconcile multiple documents and transactions at the same time.
Average time per day spent on manual reconciliation
Monthly salary of employee in charge of the reconciliation
TOTAL COST OF MANUAL RECONCILIATION
2
950
36.36
h/day
€/month
€/month
Manual reconciliation is an exhausting process. It requires going to the bank site, downloading all the statements and then manually verifying which transaction corresponds to which invoice.
We provide a simple example of calculations to help your company know what it costs to perform reconciliations manually. You will probably discover that you spend more on your employee’s time doing this manually than the total cost of all the features available in MagniFinance.
Whenever you issue a document with a MB Ref and the reference is paid, the invoice is automatically reconciled. Simply activate our integration with LusoPay to have this feature, which saves the accountant a lot of time.
