Service
Bank reconciliation automation for Singapore SMEs
Bank reconciliation automation reads every bank statement line, matches it to the invoice, bill, receipt or journal it belongs to, and leaves a short list of unmatched lines for a person to clear. Kyn Technology builds this for SMEs in Singapore and Southeast Asia, connected to the bank statements and the accounting system the business already uses, e.g. Xero.
A focused first release reaches production in about 14 days once scope and access are settled. Rights in the custom work are assigned to the client on full payment, as set out on /legal.
On this page
What the system does
Reads statements in the bank’s own format
Each bank lays out its PDF and CSV statements differently. The system carries one parser per bank format. Every parsed statement is checked against the statement’s printed opening balance, closing balance and totals. A statement that does not add up is rejected and flagged, not loaded with a silent gap.
Matches lines to the ledger
Each statement line is compared with open invoices, bills, receipts and journals on amount, date window, reference and counterparty name. Exact matches are proposed for posting. Partial payments, combined payments and bank charges are proposed as split matches with the reason shown.
Keeps one ledger
Bank lines, accounting entries and their matches sit in one table with a source on every row. Finance sees one list of what is reconciled, what is proposed and what is open, per account and per month.
Audits the accounting system
A mirror audit compares the system’s ledger with the accounting system line by line and reports missing and mismatched entries. The count is the check: zero missing, zero mismatched, or a list to fix.
Reports where the team reads
A daily or weekly summary can go to email or a WhatsApp group: balances per account, lines still open, and statements not yet received. See WhatsApp AI agents for how reports are delivered.
Built and running
Steel fabrication manufacturer, Southeast Asia
- One ledger built from bank statements and the previous accounting system: 776 statement lines and 2,004 accounting rows backfilled.
- Statement parsers for four bank formats, each checked against the statement’s printed totals.
- Mirror audit against the cloud accounting system: 3,951 journals, 0 missing, 0 mismatched.
- Morning agent: at 08:00 it chases missing statements and data from the finance team; at 09:00 it sends shareholders a cash brief on WhatsApp.
Property operations, office tower
Vendor invoices, bank lines and the ledger reconciled in one view, next to the maintenance tickets that produced the invoices.
Where people stay in the loop
- Posting. The system proposes matches. A person approves them, alone or in batches, before anything is written to the accounting system.
- Unmatched lines. Anything without a confident match goes to a review list with the closest candidates shown.
- Classification of new counterparties and one-off transactions.
- Month-end sign-off. The close stays with your finance lead or accountant.
Fit and prerequisites
Good fit
- More than one bank account or currency, or more than a few hundred statement lines a month.
- Statements arriving by email or download, reconciled by hand in a spreadsheet.
- Two systems that should agree and nobody is sure they do, such as an old accounting system and a new one.
What we need
- Sample statements for every bank and account in scope, including a month with corrections.
- Read access to the accounting system, and write access only if posting is in scope.
- One named person in finance who decides how ambiguous lines are treated.
If your accounting system’s built-in bank feed already matches most lines, the build may not be needed. We will say so in the first call. Fees are set per scope; see /pricing.
What it is not
Not an accounting or tax adviser
KYN builds software. We do not prepare accounts, give accounting or tax advice, or sign off financial statements. How a transaction is classified is decided by your finance team or your accountant.
Not a replacement for the accounting system
Your accounting system stays the book of record. The reconciliation system reads from it, proposes entries, and writes only what a person approves.
Not guaranteed 100% matching
Lines with no reference, cash deposits and payments covering many invoices will still reach a person. The aim is a short, explained list, not an empty one.
Data protection
Bank statements contain personal data of customers, suppliers and staff. Builds follow the Personal Data Protection Act in Singapore, and the equivalent laws in Indonesia and Malaysia where the data subjects are. Access is role-based, credentials stay in the client’s accounts, and retention is agreed in the scope before anything is stored.
Frequently asked questions
Does it connect directly to my bank?
It can where the bank offers an API to your account type. Most SMEs start with statement files (PDF or CSV) emailed or downloaded, which the system parses and checks against the printed totals. Direct bank APIs usually need a separate application to the bank.
Does it work with Xero or my current accounting system?
It works with accounting systems that expose an API or export, e.g. Xero. The accounting system stays the book of record. KYN has no official partnership with any accounting software vendor.
Will it post entries automatically?
Not by default. The system proposes matches and a person approves them before anything is written. Automatic posting for narrow, repeatable cases, such as fixed bank charges, is a choice made per rule in the scope.
How long does a build take?
About 14 days for a focused first release once sample statements, accounting system access and the matching rules are settled. Each additional bank format adds time.
Can it reconcile historical months?
Yes. Backfilling past statements is usually the first job, because it shows where the ledger and the bank disagree. One build backfilled 776 statement lines and 2,004 accounting rows.
Who owns the system?
Rights in the custom code, configurations and deliverables are assigned to the client on full payment, as set out in the KYN terms. KYN keeps its pre-existing tools, licensed to the client as part of the delivered system.