Month-End Pack and Bank Reconciliation

How do you close the month and reconcile the bank without chasing documents? By matching every day instead of once a month. Booked invoices and receipts, bank lines and card statements are reconciled against each other as they arrive; the gaps are listed with their sources; and on the first of the month one folder reaches the accountant with everything attached and a short list of what still needs a human decision. DataWise designs this closing step for Israeli companies as the last link of the supplier-invoices-to-month-end chain, after invoice capture has put clean entries in the books.

How it works#

On the last day of the month, invoices, receipts and bank lines sit in four places.

Three things bring them together.

Match. Every bank and card line is matched to a booked document: by amount and date first, then by supplier, reference and partial payments. Transfers between your own accounts, bank fees and standing orders are recognised as what they are. This runs daily, so the month-end run is small.

List the gaps. A bank line with no document, a document with no payment, a payment that covers two invoices, a fee that nobody booked. Each gap is listed with what was tried and what would resolve it, and routed to the person who can: the buyer for a missing invoice, the manager for an unexplained card charge.

Pack. The period’s documents with their images, the reconciled statements, the gap list and a one-page note of open decisions are assembled in the order the accountant’s software imports, and delivered on the first of the month. The pack is built so the answers travel with the documents instead of coming back as questions.

What the accountant receives#

One folder, the same every month: booked documents for the period with images attached; bank and card statements with each line marked matched or open; the list of open items, each with its history; and the short note of decisions that need an owner, with a name next to each. Accountants working with Priority or Hashavshevet clients receive it in the structure their import expects, so the pack is read, not re-typed.

What we’ve built#

Bank reconciliation is matching statement lines to ledger entries and explaining every open item: timing differences, bank charges, transfers between your own accounts, partial payments, a payment that covers two invoices. Doing it daily keeps the month-end run to the handful of lines with no document. What we bring to it:

• Overdue-payment anomaly detection with weekly alerts: designed for a produce wholesaler with over a thousand customers, inside its ERP (receivables anomaly detection). The same matching and exception discipline, applied here to payables and the bank.
• Integrations against Priority, SAP, monday.com and Hashavshevet: scoped and built. The matched entries and the pack come from there.

When to start#

After one full month has run through invoice capture cleanly. Reconciliation is only as good as the entries it matches against, so the order is capture first, then closing. The plan from there: the first month-end runs with a person reading every match, the second with the person reading only the gaps.