As month end approaches, the bookkeeper's job is clear: open each bank's screen, download the transactions, match every line to a customer or supplier account in Logo and turn it into a bank slip. The more transactions there are, the longer it takes, and the balance may still not agree at the end.
Why manual matching is tiring
- Each bank sends transactions in its own format; the description field is often free text.
- The same account may pay with different descriptions, and different accounts may write similar ones.
- One payment may close several invoices, and one invoice may be closed by several payments.
- The error shows up only at month end, as a difference between the bank balance and the Logo balance; finding which item caused it is a separate job.
What is an electronic account statement (EHÖ)
An electronic account statement delivers a company's account transactions from the bank electronically, at a frequency the company chooses. For example, a bank's corporate product page describes it as account transactions delivered as a file over SFTP, in the MT940 structure, intraday or at end of day [1]. Banks may not use the same format, so bringing transactions into a single format is the first condition of automatic reconciliation.
How iyibir Finance reads transactions
You connect the bank yourself with your own read-only EHÖ details; there is no need to open a ticket with a support team. A bank with an API is read through the API; otherwise a statement file is used: MT940, camt.053, Excel, PDF. iyibir Finance only reads; it does not send money. Your bank details are read-only, stored sealed and never shown on screen again.
The agent that works overnight compares the transactions with the accounts and open items in Logo. Each result is one of four states: matched, missing in Logo, missing at the bank, amount difference. Every suggestion carries a confidence level and a one-sentence reason. Only clear rules reach the "matched" class: an exact match of the amount together with the IBAN, tax number or invoice number. Everything else comes to you as "needs review".
Only approved entries are written to Logo
iyibir Finance is integrated with Logo Edge: it runs in iyibir Cloud and connects to Logo Edge with the iyibir PaaS Agent. Your Logo database is not opened to the internet; the iyibir PaaS Agent makes a single outbound connection.
In the morning you approve the clear matches with one click; amounts above a threshold go to a second approver. Approved items go into a batch. The batch is previewed in the Logo slip view, passes a pre-check (is the period open, is there a duplicate, does the account exist), is written on approval and read back from Logo. If needed it is reversed with a reversing entry; the transfer ledger keeps a trace of every step. Every entry that goes to Logo goes with your approval.
The balance difference is now visible item by item
The balance bridge goes from the Logo balance to the bank balance item by item. A slip entered to the wrong account or entered twice shows up in this bridge without waiting for month end.
What to ask when evaluating a solution
- Which banks do you work with, and which have an API and which only files?
- Are the IBAN and tax number filled in on your account cards? Clear matches rely on these fields.
- Is there a preview before writing to Logo, and read-back and reversal afterwards?
- Who approves, and is there a second approval for large amounts?
- Where and how are your bank details stored?
The Turkish Commercial Code requires every merchant to show its commercial transactions and its debt and receivable relationships clearly in its books [2]. Processing bank transactions on time and correctly makes it easier for the books to do this.