Bank statement reconciliation: upload a PDF, book every line
The bank statement is the one document that is always complete and never lies. FlipAccounts starts from it: upload the statement, confirm what each line is, and the journal, the ledger and the reconciliation fall out of that, with the running balance checked all the way down.
Why books should start from the statement
Most small-business books are built from memory and receipts, then "reconciled" to the bank at the end, which is where the unexplained differences appear. Doing it the other way round, statement first, means every rupee that moved is accounted for before anyone asks, and the only open questions are the lines you genuinely could not classify.
How it works
- Upload the statement Banking → Upload. Pick the bank account and the file: PDF, CSV or Excel. Password-protected PDFs take the password, which is not stored.
- The statement is read and checked HDFC Bank, IDFC FIRST Bank and Aspire PDFs are read directly by layout, including wrapped narrations and value dates. Other banks' PDFs are read with AI. Either way, the running balance is recomputed line by line, so a missing or duplicated line is caught before anything is booked.
- Lines are matched Rules you have saved, such as "UPPCL means electricity" or "this payee is a tenant", pre-fill the account. Confirm them in bulk. Receipts in foreign currency keep the foreign amount and the bank's rate on the entry.
- Anything unclear waits in Suspense A line you cannot place is parked with a note, not forced into a guess. Clear it later from the Suspense list, and the correcting entry is posted for you.
- Reconciled The bank ledger equals the statement's closing balance. The reconciliation report shows the statement balance, the ledger balance, the number of unreconciled lines and the date the statements run to.
| Statement format | How it is read | Balance check |
|---|---|---|
| HDFC Bank NetBanking PDF | Directly, by layout. Monthly or custom-period files; overlapping files are de-duplicated line by line | Yes |
| IDFC FIRST Bank PDF | Directly, by layout, including multi-page statements | Yes |
| Aspire (Singapore / Hong Kong) PDF | Directly, by layout, with FX detail per line | Yes |
| Other banks, PDF | With AI, then verified | Yes |
| CSV or Excel from any bank | Column mapping | Where a balance column exists |
What you get from a reconciled bank
- A cash-basis picture that is right by construction: every bank movement is in the books, nothing is in the books that did not happen.
- GST input and output figures that agree with the money actually paid and received.
- Lender and director balances that move with each transfer, so the related-party schedule is ready at year end.
- A short, honest list of open questions for the owner, instead of a long list of unexplained differences for the CA.
Frequently asked questions
My bank is not on the list. Can I still use it?
Yes. Any bank's CSV or Excel export works, and PDFs from other banks are read with AI and then balance-checked. If the layout is common we add a direct reader for it.
What if I upload the same month twice?
Lines already in the books are recognised by date, reference and amount and skipped, so re-uploading a consolidated statement over monthly ones books only what is new.
Does the opening balance matter?
Yes. Set the account's opening balance and date once, usually the audited balance at the last year end. From then on the ledger and the statement are compared continuously.
Can my accountant do this instead of me?
Yes. Add them to the company; they can upload, match and clear suspense items with the same tools.
Upload a statement and see
Free account, two minutes, and the first reconciliation takes about as long as reading the statement.
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Updated October 2026.