Tag: bank reconciliation

AI in Accounting

AI Cash Application Explained: How Machine Learning Matches a £28,500 Batch of Customer Payments to Invoices in Seconds

A £28,500 batch of customer payments lands in the bank, split across three customers with discounts, bundled invoices and a short payment baked in. Here is exactly how AI cash application software reads remittance data, scores each match, and auto-posts the clean ones in seconds while flagging genuine disputes for a human to chase.

Oct 24, 2026 6 min read

Accounting Glossary

What Is a Suspense Account? How to Clear a Mystery Balance Before It Throws Off Your Accounts

When the trial balance will not balance, a suspense account keeps the books moving — but only if it is cleared quickly. This guide explains what suspense accounts are, why mystery balances appear, and walks through two real worked examples showing exactly how to trace and resolve them before they distort your reports or raise flags with HMRC.

Oct 11, 2026 7 min read

Accounting Fundations

Bank Reconciliation Explained: A Step-by-Step Guide for SME Owners

Every month, your bank account tells one version of your finances — and your accounting records tell another. Bank reconciliation is the…

Sep 4, 2026 7 min read