
CleverBalance - Intercompany Recon
Automate intercompany reconciliation with AI accuracy
Details
- Categories
- FintechAutomation & WorkflowAI
- Target Audience
- EnterprisesConsultantsFinancial Planner
- Pricing
- Freemium
- Platforms
- Web
About CleverBalance - Intercompany Recon
CleverBalance automates intercompany reconciliation by matching transactions between entities with speed and precision—eliminating manual Excel work and reducing reconciliation errors. Key Features: 1. Invoice & Reference-Based Matching: Matches transactions using invoice numbers, journal IDs, and document references for high accuracy. 2. Date & Amount Matching: Identifies matches even when references are missing using amount and date proximity. 3. One-to-Many & Netting Support: Handles split entries, grouped transactions, and intercompany netting seamlessly. 4. AI-Powered Matching Engine: Resolves complex and edge-case scenarios without forcing incorrect matches. 5. Clear Matched vs Unmatched View: Separates reconciled and unreconciled items for easy tracking and action. Benefits: - Faster Financial Close: Reduces reconciliation time from days to hours. - Improved Accuracy: Minimizes manual errors and mismatches across entities. - Better Visibility: Quickly identify missing entries, timing differences, and incorrect postings. - Audit-Ready Reports: Clean, structured outputs ready for audit and compliance. - Handles Real-World Complexity: Supports cross-entity differences, adjustments, and varied accounting practices. How to Use: 1. Upload Data- Upload Entity A and Entity B datasets (CSV/XLS/XLSX). 2. Map Fields- Select date, identifier (invoice/reference), and amount columns. 3. Run Reconciliation- System standardizes data and performs rule-based + AI matching. 4. Review Results- Check matched transactions and investigate unmatched items. 5. Take Action- Resolve discrepancies and finalize clean balances for consolidation.
Product Insights
CleverBalance is a web-based fintech platform that utilizes AI to automate intercompany transaction matching across complex entity structures. It bridges the gap between manual Excel workflows and automated financial consolidation by supporting one-to-many netting and audit-ready reporting.
- Supports complex matching logic including one-to-many entries and intercompany netting.
- Handles missing references using AI-powered date and amount proximity matching.
- Streamlines the financial close process with clear separation of matched and unmatched items.
- Provides a freemium pricing model accessible via standard web browsers.
Ideal for: This solution is designed for enterprises, consultants, and financial planners who need to eliminate manual errors and speed up reconciliation for multi-entity organizations.
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