Reconciliation
Every day, we match your positions, cash and trades with every bank statement. Each difference gets a name and goes to a person.
What the reconciliation module checks.
TAC reads each bank's statement, in PDF, CSV or XML. For a scanned PDF, it first turns the picture into text.
We compare each holding and cash balance with your books. Any difference shows the amount and which side has it.
Each buy and sell order is matched to your trade record and to the bank's confirmation. If one does not match, a person looks at it.
Before we add a holding, we check its ISIN against our security list and an outside reference.
If we are not sure, we do not fix it by ourselves. The problem, the proof and an undo record go to Operations.
Two separate numbers must match exactly: the lines TAC reads, and the total the bank printed. One wrong line and we hold the file.
What the reconciliation module gives you.
A daily list of differences, by account and by bank
Statement history, with a one-click check against your books
A record of each file: who loaded it and what it changed
Reads every statement and lists every difference.
Looks at each difference and fixes it, or takes it up with the bank.
Read the daily report. Never sign what you have not seen.