6 Best Accounts Reconciliation Software in 2024

Accounts reconciliation is tiring, whether you are a solopreneur, a small business owner, a freelancer, or the head of a large enterprise. Financial closing is complicated to begin with, and when done manually, it can take a lot of your time and expose you to mistakes.

But you can say goodbye to your accounting troubles with the help of an automated tool designed to take care to your accounting needs. Instead of keeping records manually and adding up numbers every month- or year-end, let automated reconciliation and technology take over and do a faster, better job. 

Are you ready to reduce errors, maintain complete financial records, and improve your bottom line? Explore our list of best accounts reconciliation software in 2024 and choose the best option for yourself.

List of the Top 6 Accounts Reconciliation Software

1. Zarmoney
2. Blackline
3. Xero
4. Upflow
5. ReconArt
6. OneStream

1. ZarMoney

ZarMoney is a cloud-based accounts reconciliation software that automates your financial closing process. It offers amazing features that allow you to track expenses and maintain accurate financial records in an online database. 

You can count on ZarMoney for importing bank transactions into your dashboard, where you can edit or approve them accordingly. 

The tool also identifies discrepancies, and duplicated or missing entries as well as keeps your books reconciled which can save you a lot of hassle. With ZarMoney, you can gain real-time insights into your cash position and take the right action at the right time. 

Features of ZarMoney

• 1099 preparation
• Accounts receivable transactions
• Accounts payable transactions 
• Online payment processing
• Aging tracking
• Approval process control
• Bank reconciliation
• Billing 
• Invoicing
• Cash management
• Check to process
• Chart of accounts
• Funds transfer
• Contact database
• Contingency billing
• Customer statements
• Customizable invoices
• Connection with over 9600 banks
• Multi-login
• Multi-location support
• Multi-currency support 
• Automated taxation
• Custom tax order
• Journal entries
• Profit and loss statements 
• Alerts and reminders

Top 3 Features of ZarMoney

1. Accounts Reconciliation 

With just a single click you can reconcile your bank statements with your invoices. Any discrepancies and errors are identified by the tool, making sure your records are straight at all times. 

2. Bank Synchronization 

With ZarMoney, you can connect to more than 9600 banks and conduct multiple kinds of transactions without worrying about missed records. The bank feeds are synchronized with your dashboard which allows you to import transaction records.  

3. Automated Tax Calculation & Payment

ZarMoney reduces the chances of error in tax calculation by automating the entire process. You no longer have to manually add or apply taxes as this software calculates and implements tax on each sale. 

Pricing of ZarMoney

• Free trial
• Entrepreneur: $15 / month / 1 user 
• Small Business: $20 / month / 2 users
• Enterprise: $350 / month / 30+ users 

Pros of ZarMoney

• The tool has a user friendly interface which gives ease of access to new users. 
• It is scalable, allowing you to increase its capabilities by switching to advanced plans.
• The reporting feature provides detailed and visual financial reports, bringing you up to date on your performance.

Cons of ZarMoney

• Can have a higher learning curve for new users.

Integrations of ZarMoney

• AutoEntry
• PayPal
• Stripe
• Google Calendar
• QuickBooks Payment
• Braintree
• CyberSource
• Authorize.Net
• Gusto
• Mailchimp
• Zapier
• Shopify

Average Rating of ZarMoney 

ZarMoney’s average rating, according to Software Advice is 4.7/5.

Testimonials

Customer Support of ZarMoney

• Knowledge Base
• FAQs/Forum
• Phone Support
• Email/Help Desk
• Chat
• 24/7 (Live rep)

Support Platforms of ZarMoney

• Web
• Mac
• Windows
• Linux
• Chromebook

Final Verdict on ZarMoney

ZarMoney upgrades and automates your accounting process thoroughly. It increases efficiency and accuracy into your accounts reconciliation system, freeing up your hours so you can focus on other tasks. You can count on this tool to keep detailed records, conduct single-click bank reconciliation and give you clear insights into your financial condition. 

2. Blackline

BlackLine is a complete accounting solution to your financial needs. It automates repetitive processes which allows you to perform several tasks in minimal time. 

You can use this accounts reconciliation software to implement internal controls in your system, manage your tasks, and conduct accounts reconciliation, transaction matching, and journal entries. 

The tool also provides detailed supporting document repositories as well as financial reporting. This means you can keep all important files in one location and also get a complete overview of your financial status.

Features of Blackline

• Accounts Receivable
• Audit Trail
• Bank Reconciliation
• Billing & Invoicing
• Budgeting/Forecasting
• Cash Management
• Consolidation/Roll-Up
• CPA Firms
• Fixed Asset Management
• Fund Accounting
• General Ledger
• Income & Balance Sheet
• Payroll Management
• Profit/Loss Statement
• Tax Management

Top 3 Features of Blackline

1. Balance Sheet Integrity

BlackLine manages your balance sheets without needing any heavy input from you. It does reconciliation of general ledger, balance sheet accounts, credit cards, cash, and bank statements. Since it requires minimal manual intervention, you can expect no chances of errors and also save your time.  

2. Accounts Reconciliation 

BlackLine increases accuracy of your financial statements. This feature makes it easier and quicker to compare your general ledger and bank data to find any discrepancies. Since every function is performed from a unified platform, it is convenient to keep track of all activity.  

3. Close Process Management 

BlackLine improves the process of accounts reconciliation and period-end closing. With accurate and professional systems, you can experience improvements in cycle times and financial integrity. You can use the tool to track finance and accounting-related tasks and make sure there is greater transparency and reliability. 

Pricing of Blackline

• Price is available on a custom quote
• No free trial

Pros of Blackline

• It is easy to use.
• The feature of providing accounts summary is very handy.
• The data storage option enables safe and accessible recordkeeping.

Cons of Blackline

• The implementation of this software can be a time-taking and complicated process.
• It can be slow if you use it to manage several accounts.
• Lack of visibility into plans available make it an inconvenient process for some.

Integrations of Blackline

• Primaseller 
• Planful  
• TeraVina 

Average Rating of Blackline

BlackLine’s average rating according to Software Advice is 4.3/5.

Testimonials

Customer Support Options of Blackline

• Phone Support
• 24/7 (Live rep)
• Knowledge Base
• Email/Help Desk
• Chat

Supported Platforms of Blackline

•     Web

Final Verdict on Blackline

BlackLine not only automates your accounting processes but also allows you to manage and smoothen out your accounting functions for maximum productivity. The app does not provide a free trial. You can, however, contact their team to learn more. 

3. Xero

Xero is a web based accounts reconciliation software that provides multiple bookkeeping functionalities. 

This app can automate your reconciliation process while improving accuracy and transparency. 

You can also use Xero to manage multiple accounts since this software automatically connects to your bank accounts, importing feeds through a secure channel to make sure you have updated financial records. 

Since you do not have to enter data manually, there are little to no chances of errors which also decreases the time you have to spend on maintaining a financial trail. 

Features of Xero 

• 401(k) tracking
• ACH payment processing
• Accounts payable & receivable
• Automated quoting & billing
• Bank reconciliation
• Billing & Invoicing
• Budgeting
• CPA firms
• Currency conversion
• Customer statements
• Customizable invoices & reports
• Financial analysis
• Income & balance sheet
• Multi-channel management
• Online invoicing & payments
• Real-time reporting

Top 3 Features of Xero

1. Automatic Bank Feeds

You can automatically connect your bank account to Xero. The tool allows you to add and manage multiple streams and accounts. The transactions are recorded in your Xero database automatically and securely. You can gain complete visibility of incoming and outgoing money, and make sure that your bank connections are safe and secure at all times.

2. Account Reconciliation 

With Xero, you can reconcile your accounts with just a few clicks. Since the bank feeds are automatic, you get real-time insights into your financial condition on the dashboard. You can use the information and categorize your transactions daily for a smooth workflow. 

3. Strong Security

Xero imports all your bank transactions from your accounts automatically and securely. The connection is private and reliable. Furthermore, the information sent by Xero is encrypted, which means there are no risks of unauthorized access to your financial records. 

Pricing of Xero

• Free trial
• Starter - $22 / month
• Standard - $35 / month
• Premium - $47 / month

Pros of Xero

• It is user-friendly and easy to implement
• It offers a mobile app, allowing you to use it from anywhere 
• It is affordable 

Cons of Xero

• Delivery dockets system can be cumbersome 
• The automatic bank feeds capability can sometimes glitch

Integrations of Xero

• PayPal 
• Mailchimp 
• Google Forms 
• Shopify 
• Eventbrite 
• Stripe 
• HubSpot CRM 
• Zoho CRM 
• Zapier 
• Squarespace 

Average Rating of Xero 

Xero’s average rating, per Software Advice is 4.4/5.

Testimonials 

Customer Support Options of Xero

• Email/Help Desk
• Chat
• Knowledge Base
• FAQs/Forum
• 24/7 (Live rep)

Supported Platforms of Xero

• Web
• Android
• iPhone
• iPad

Final Verdict on Xero 

Users find Xero as a good accounts reconciliation tool, easy to implement in their daily financial operations. In addition to performing account reconciliation, it also helps you conduct bookkeeping in a convenient manner. Since it is a cloud-based tool and a mobile app, you can easily access it remotely or on the go.

4. Upflow

Upflow is an accounting solution through which you can perform multiple bookkeeping functions. The app allows you to offer payment options to your customers and tracks all incoming bills.

With Upflow you can manage your customer relationship. With its customer-friendly reminder system, your clients start paying you on time. 

You can update your account data with smooth cash flow and single-click reconciliations of all invoices. You can also increase the tool’s functionality and upgrade your billing system with the help of external integrations. 

Features of Upflow

• ACH payment processing
• Automated notices
• Billing & invoicing
• Customer statements
• Data security
• Debit/credit card processing
• In-house collections
• Invoice management
• Mobile payments
• Online payments

Top 3 Features of Upflow

1. Multiple-channel Payment 

With Upflow, you can give your client flexible payment options. They can choose from multiple payment methods and specify their decision. This process is easy to offer and costs no extra or hidden fees. 

2. Automatic Reconciliation 

Upflow allows you to easily track all your incoming and outgoing expenses and reconcile your transactions. You do not have to enter details about the cash flow since the app imports the required information quickly. 

3. Payment Dispute Management 

Your clients can let you know the payment date through the summary page, and if they have confusion, they can raise a dispute or pose queries online. You can answer questions, resolve payment disputes and keep track of unpaid invoices. 

Pricing of Upflow

• Accounting software: $0
• Credit card processing: $0.30 + 2.9% per transaction
• Bank payment/ACH processing: 1% per transaction ($1 minimum fee)

Pros of Upflow

• The process of implementing this app into your financial system is quick. 
• The app is compatible with web browsers, allowing you ease of access.
• It offers good functionality at an affordable rate.

Cons of Upflow

• It does not have a lot of third-party integrations at present.
• You might find the tool hard to use at the start.
• The customization options are limited.

Integrations of Upflow

• Quickbooks
• Xero  
• NetSuite  
• Stripe
• Chargebee  

Average Rating of Upflow

Upflow’s average rating on Software Advice is 4.5/5.

Testimonials

Customer Support Options of Upflow

• FAQs/Forum

Supported Platforms of Upflow

• Web

Final Verdict on Upflow

Upflow is a very convenient solution for your accounts reconciliation system. With greater control and visibility over your bills, invoices and integrated payment methods, this can turn out to be a reliable way to reconcile your accounts. 

5. ReconArt

ReconArt is a web-based reconciliation tool that provides individuals and companies with an automated system to manage their financial processes. 

Since the software is web-based, users can access it quickly and view, edit and work on their financial records from anywhere and at any time. 

You can rely on ReconArt to help you import and export data and perform multi-sided reconciliation and complex matching. It also helps you oversee your account receivable and payable reconciliation.  

Features of ReconArt

• Accounts Receivable
• Bank Reconciliation
• Fund Accounting 
• Sales Reconciliation
• Credit Card Reconciliation
• Financial Close Services
• Integration with ERP system

Top 3 Features of ReconArt

1. Bank Reconciliation Software

ReconArt automates the bank reconciliation process from start to finish. It imports your bank transactions into the app database and matches the individual transactions with internally-saved information. 

2. Account Reconciliation

ReconArt centralizes your AP and AR reconciliations on a single dashboard. It matches your account receivables with open invoices and your vendor statements with the internal record of account payables. 

3. Credit Card Reconciliation

ReconArt provides a solution for your credit card reconciliation needs. Whether it is vendor payment, sales transaction or employee reimbursements, this tool automatically matches transactions on your credit card statements to the details in the internal ledger.

Pricing of ReconArt

• Essentials: $1500 / month / 5 users 
• Plus: $3000 / month / 10 users 
• Certify: $1500 / month / 10 users 
• Close: $2500 / month / 20 users 
• Enterprise: Available at a custom quote

Pros of ReconArt

• It standardizes the matching process.
• It automates complex reconciliation processes, saving your time.
• It is intuitive. 

Cons of ReconArt

• The support options are limited.
• It can be difficult to learn for new users.
• It has limited features and does not offer a free trial.

Integrations of ReconArt

• NetSuite

Average Rating of ReconArt

According to G2, the average rating of ReconArt is 3.3/5.

Testimonials

Customer Support Options of ReconArt

• 24/7 (Live Rep)

Supported Platforms of ReconArt

• Web

Final Verdict on ReconArt

ReconArt is a user-friendly but technically advanced accounts reconciliation software. You can use this tool to manage a global customer base, and deal with financial processes whether they are small or enterprise-scale. 

6. OneStream

OneStream provides a consolidated financial system that offers a number of features like financial planning, data quality, and more. 

It makes complicated accounting tasks easy for general users. You can also expect greater accuracy in your financial records with the help of this app. 

It presents information in graphs, charts and grids, making it easy for you to underrstand and convey financial details to stakeholders. 

With OneStream, you can keep track of all your expenses on a unified dashboard. You can also maintain audit control and match your performance against set targets. 

Features of OneStream

• "What If" Scenarios
• Access Controls/Permissions
• Ad hoc Reporting
• Asset Lifecycle Management
• Audit Trail
• Bank Reconciliation
• Budgeting/Forecasting
• Cash Management
• Consolidation/Roll-Up
• Dashboard
• Data Import/Export
• Data Visualization
• Financial Analysis
• Financial Reporting
• Forecasting
• Income & Balance Sheet
• Key Performance Indicators

Top 3 Features of OneStream

1. Transaction Matching 

With OneStream, you can easily verify financial data from various sources by matching it against your internal records. 

You can import your bank data into the dashboard on a weekly, monthly, or even daily basis and perform splitting and data stacking to support the matching process. 

2. Account Reconciliation

OneStream automates account reconciliation and aligns it with financial reporting. The CPM software means you do not have to manually enter or match information. Trial balances and balance sheets can be overseen on a single dashboard, reconciled.

3. Financial Close and Consolidation 

With OneStream you no longer have to keep excel or spreadsheets. You can replace the manual system with a modern and unified platform that automates the financial process entirely. 

Pricing of OneStream

• Starting from $100,000, depending on usage
• No free trial

Pros of OneStream

• It is user-friendly.
• The customer support is responsive. 
• The tool is very customizable so you can build it to match your needs.

Cons of OneStream

• The report scheduling feature is not very convenient to use. 
• The information is not presented clearly. 
• The dashboard needs to be further developed to give users a smoother experience.
• It is expensive as compared to other options. 

Integrations of OneStream

• Microsoft Excel
• Microsoft Azure  
• SAP BusinessObjects Business Intelligence  
• CXO Software  

Average Rating of OneStream

OneStream’s average rating is 4.8/5 according to Software Advice.

Testimonials

Customer Support Options of OneStream

• Email/Help Desk
• FAQs/Forum
• Knowledge Base
• Phone Support
• 24/7 (Live Rep)

Support Platforms of OneStream

• Web 
• Android
• iPhone / iPad

Final Verdict on OneStream

OneStream can be used to improve and simplify your accounts reconciliation and financial close process. With most of your complex accounting systems automated, you can count on spending less time on manual admin tasks. 

Table of Comparison

Best of the Best - Top 3 Accounts Reconcilliation Software

1. ZarMoney

ZarMoney is one of most detailed and user-friendly cloud-based accounting solution which can be used by businesses of any size. It has a number of amazing features, including bank synchronization with more than 9,600 banks, one-click bank statement reconciliation, and automated tax calculation. ZarMoney’s real-time cash flow insights can also improve your decision-making which make it an excellent choice for those looking to make their financial processes smoother.

2. Xero

Xero is a web-based accounts reconciliation software which is known for its amazing capabilities of bookkeeping. This tool can connect with multiple banks automatically and import transaction feeds. Xero is a good option for small to medium-sized businesses looking for a reliable accounting solution.

3. BlackLine

BlackLine is a great accounting software which can be easily customized to meet the needs of enterprises looking for automation and accuracy in their financial processes. BlackLine's can manage complex financial tasks, maintain detailed supporting document repositories and provides a transparent view of financial status. 

Conclusion

A good accounts reconciliation tool can simplify your accounting system while making it faster and more accurate. 

You can choose a tool from our top 6 picks per your needs and budget. However, we recommend trying out ZarMoney for its ease of access, rich features and affordability. Since this software offers a free trial, you don’t have to pay to try it out. 

So what’s stopping you? Start your hands-on exploration today to get better business outcomes in the future.  

Frequently Asked Questions 

1. What is a reconciliation of accounts?

Account reconciliation is a process through which two sets of records are checked and compared to make sure they match. 

2. What are accounts receivable reconciliations?

The reconciliation of accounts receivable is basically the process of matching the unpaid invoices or customer bills to the total accounts receivable amount mentioned in the general ledger. T

3. What are accounts payable reconciliation?

The reconciliation of accounts payables is all about comparing balances in financial records likw general ledger, dashboard, sub-ledger, or accounts payable aging report. The comparison shows you the due balance or outstanding bills you have to pay to your vendors and suppliers. 

4. Why should I use accounts reconciliation software? 

Accounts reconciliation is a complex process. When done manually, it is takes a lot of time and is also prone to errors. Using accounts reconciliation software can automate the system of comparing and verifying your incoming and outgoing bills. These tools also recognize errors and discrepancies and brings accuracy into your financial records. 

5. How often should accounts reconciliation be performed?

Accounts reconciliation should be performed monthly. This helps in catching and correcting discrepancies at the very start and make sure that your financial records are accurate and up-to-date. 

6. Can accounts reconciliation software handle multiple accounts and currencies? 

Yes, accounts reconciliation software like ZarMoney are made in a way that helps them handle multiple accounts and currencies. These tools can import transactions from various accounts on their own, perform multi-currency conversions, and provide consolidated financial repor