If you are someone who regularly spends time hunting for small discrepancies then you can take full advantage of Reconciliation on Fire.
Try Reconciliation on Fire if you regularly spend time hunting for those errors and have the following conditions:
- You can export a list of actual financial data to Excel. This is typically done by exporting it from a website and saving it or pasting it into Excel.*
- You can export your unreconciled transactions to Excel.
- If you don’t actually do the reconciliations but hand it off to a boss to finalize the process, then you’d earn brownie points if you could make sure the numbers are accurate before the hand off.
* I have even started from a scan of an AMEX statement. I then ran OCR on it and pasted it to Excel. Reconciliation on Fire worked great. I didn’t even have to line up the columns. After the paste into Excel, I noticed many 10 digit phone numbers. That would have messed up Reconciliation on fire, so I added a checkbox to ignore them. It worked great.