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ReconcileIQ

reconcileiq.com

From £5/mo Free plan WebAPI
Visit reconcileiq.com
Spec score 8.6 #4 of 29 in Payment Reconciliation Software

What it is

ReconcileIQ helps accountants and business owners reconcile bank statements with accounting records, find discrepancies, and send corrections back to accounting software. Its matching handles fuzzy descriptions, date differences, and batch payments. Invoice matching weighs amount at 60%, description at 35%, and date at 5%, with a 150-day window for late payments. Statements can come from digital PDFs, scans, phone photos, CSV, Excel, OAuth feeds, or custom bank formats. OAuth connections include QuickBooks, Xero, Sage, Pandle, FreeAgent, and YNAB; the first four are listed for posting and the latter two for reading. After reconciliation, users can review results, push corrections, or export PDF and CSV files; API output is also available. ReconcileIQ runs on the web and through an API, either alongside existing accounting software or inside IQ Books. The free plan provides 1,000 one-off credits; paid plans start at £5/mo. The product page describes AES-256 encryption, isolated file processing, automatic deletion, GDPR compliance, and ICO registration.

Spec sheet

What it does
ReconcileIQ, branded on current pages as Bank Reconciler, compares bank statements with accounting books, identifies discrepancies and can send fixes back.Read 15 Oct 2026 · reconcileiq.com
Purpose
ReconcileIQ matches bank statements against accounting records, identifies discrepancies, and can push fixes back to accounting software.Read 30 Sep 2026 · reconcileiq.com
Integrations
OAuth connections are listed for QuickBooks, Xero, Sage, Pandle, FreeAgent and YNAB.Read 15 Oct 2026 · reconcileiq.com
Security
The product page says it uses AES-256 encryption, processes files in isolated environments, deletes them automatically, and is GDPR compliant and ICO registered.Read 30 Sep 2026 · reconcileiq.com
Support
The Starter plan lists email support, and the about page says the founder usually responds within 24 hours.Read 30 Sep 2026 · reconcileiq.com
Headquarters
United KingdomRead 28 Sep 2026 · reconcileiq.com
Founded
The founder's company biography states ReconcileIQ was officially founded in April 2025.Read 15 Oct 2026 · bankreconciler.app
Company
The about page identifies Jack Whitehead as founder, says ReconcileIQ was founded in April 2025, and says he is based in the United Kingdom.Read 30 Sep 2026 · reconcileiq.com
API and extensibility
The product exposes API output and a public MCP connector at https://api.reconcileiq.com/mcp for Claude; no public SDK is listed on the reviewed pages.Read 15 Oct 2026 · reconcileiq.com
Bank matching
Bank-versus-books reconciliation supports fuzzy descriptions, configurable date tolerance, one-to-many and many-to-one matches, confidence scores and exception tagging.Read 15 Oct 2026 · reconcileiq.com
Company location
The company describes itself as a UK software company.Read 15 Oct 2026 · reconcileiq.com
Company profile
Jack Whitehead's LinkedIn profile identifies him in the Greater Cheshire West and Chester area and associates him with The Accountancy Partnership.Read 15 Oct 2026 · uk.linkedin.com
Credit metering
One credit represents a reconciled bank line, two credits a PDF-parsed statement line, four credits a fully coded transaction and 1,000 credits a LedgerIQ analysis.Read 15 Oct 2026 · reconcileiq.com
Credit rollover
Monthly credits refresh each billing cycle and unused monthly credits do not carry over; one-time bonus credits do not expire.Read 15 Oct 2026 · reconcileiq.com
Documentation
The maker provides product guides covering statement imports, mappings, matching exceptions and final reconciliation workflows.Read 15 Oct 2026 · reconcileiq.com
Exports
Completed reconciliations can produce summary, matched-pair and exception outputs in PDF, CSV or Excel.Read 15 Oct 2026 · reconcileiq.com
File handling
The security page says simple conversion or reconciliation uploads are deleted after processing when retention is unnecessary.Read 15 Oct 2026 · reconcileiq.com
Founder
Jack Whitehead is presented as the founder and an AATQB-qualified accountant with more than 10 years in UK accounting.Read 15 Oct 2026 · bankreconciler.app
Free access
The free tier provides 1,000 one-off credits, one personal login and one IQ Books organisation without requiring a card.Read 15 Oct 2026 · reconcileiq.com
Input formats
It accepts CSV, Excel, PDF, OFX, QBO files, scans and phone photographs from any bank.Read 15 Oct 2026 · reconcileiq.com
Integration permissions
QuickBooks, Xero, Sage and Pandle are described as posting connections, while FreeAgent and YNAB are read-only.Read 15 Oct 2026 · reconcileiq.com
Invoice matching
Invoice-to-payment matching weights amount, description and date, and includes a 150-day late-payment window.Read 15 Oct 2026 · reconcileiq.com
Licence
The reviewed public pages describe a hosted web service and do not state an open-source licence or self-hosting package.Read 15 Oct 2026 · reconcileiq.com
Limit: platform dependency
FreeAgent and YNAB connections are read-only, so corrections cannot be posted back through those integrations.Read 15 Oct 2026 · reconcileiq.com
Limit: usage pricing
Paid plans can incur capped pay-as-you-go charges after included credits are consumed unless overage is switched off.Read 15 Oct 2026 · reconcileiq.com
Limit: Xero API
The feature page says Xero's API does not allow marking transfers or invoice payments as reconciled, so those actions cannot be completed by ReconcileIQ.Read 15 Oct 2026 · reconcileiq.com
LinkedIn feature report
The same LinkedIn announcement describes financial statements, profitability, liquidity, leverage, trend, forecasting, what-if and anomaly-analysis outputs in LedgerIQ.Read 15 Oct 2026 · linkedin.com
LinkedIn integration news
A LinkedIn post announced that ReconcileIQ could fix bank discrepancies for Pandle users after enabling Pandle access.Read 15 Oct 2026 · linkedin.com
LinkedIn launch report
A LinkedIn post by Jack Whitehead announced LedgerIQ as a ReconcileIQ product that parses CSV general-ledger exports from Xero, Sage, QuickBooks Online and Pandle.Read 15 Oct 2026 · linkedin.com
Matching
Its matching engine handles fuzzy descriptions, date variances, and batch payments, with the site claiming throughput above 5,000 transactions per second.Read 30 Sep 2026 · reconcileiq.com
Matching speed
The maker claims throughput above 5,000 transactions per second using a compiled C++ matching service.Read 15 Oct 2026 · reconcileiq.com
Mobile availability
The maker says its IQ Books companion app is still in release testing for the Apple App Store and Google Play, while the web app works in a phone browser.Read 15 Oct 2026 · reconcileiq.com
Platform context
The company says ReconcileIQ runs standalone on existing accounting software or natively inside IQ Books.Read 30 Sep 2026 · reconcileiq.com
Praise: discrepancy diagnosis
A Reddit bookkeeping commenter recommended free ReconcileIQ for diagnosing discrepancies when balances do not match bank statements.Read 15 Oct 2026 · reddit.com
Praise: Pandle ease
A commenter on the Pandle announcement said the integration made bookkeeping easier.Read 15 Oct 2026 · linkedin.com
Privacy compliance
The product pages state GDPR compliance and ICO registration.Read 15 Oct 2026 · reconcileiq.com
Security certification
The pricing page says the company's SOC 2 journey is in progress.Read 30 Sep 2026 · reconcileiq.com
Security encryption
Official security material says data is encrypted in transit and at rest using TLS and encrypted server storage.Read 15 Oct 2026 · reconcileiq.com
SOC 2 status
The pricing and product pages say SOC 2 Type II work is still in progress.Read 15 Oct 2026 · reconcileiq.com
Statement inputs
The parser accepts digital PDFs, scans, phone photos, CSV, Excel, OAuth feeds, and custom formats from any bank.Read 30 Sep 2026 · reconcileiq.com
Statement parsing
The parser auto-detects columns, handles more than 20 date formats and normalizes currency symbols and negative-value conventions.Read 15 Oct 2026 · reconcileiq.com
Who it serves
The about page describes ReconcileIQ as built for accountants and accounting professionals, and the product page also identifies business owners as users.Read 30 Sep 2026 · reconcileiq.com

Plans and prices

Start Free Free forever 1,000 one-off credits · 1 personal login · 1 IQ Books organisation · no overage Read 15 Oct 2026 · reconcileiq.com
Starter £5 a month £5/mo; then £0.002/credit 5,000 credits/month · 1 personal login · 1 IQ Books organisation Read 15 Oct 2026 · reconcileiq.com
Accountant £15 a month £15/mo; then £0.0015/credit 25,000 credits/month · 1 personal login · 5 IQ Books organisations Read 15 Oct 2026 · reconcileiq.com
Practice Essential £78 a month £78/mo; then £0.002/credit 50,000 credits/month · up to 50 client accounts · 10 IQ Books organisations · PrepIQ Read 15 Oct 2026 · reconcileiq.com
Practice Pro £158 a month £158/mo; then £0.0016/credit 150,000 credits/month · up to 250 client accounts · 10 IQ Books organisations · PrepIQ Read 15 Oct 2026 · reconcileiq.com
Enterprise £398 a month £398/mo; then £0.001/credit 500,000 credits/month · up to 1,000 client accounts · 10 IQ Books organisations · PrepIQ Read 15 Oct 2026 · reconcileiq.com

Every ReconcileIQ plan and price →

Strong points and limits

Strong points

  • Matches fuzzy descriptions, date variances, and batch payments
  • Accepts PDFs, scans, photos, CSV, and Excel
  • Invoice matching allows a 150-day late-payment window
  • Supports six listed accounting integrations
  • Offers PDF, CSV, and API output

Limits

  • Free plan is limited to 1,000 one-off credits
  • Free plan supports cash accounting only
  • Free plan includes one IQ Books organisation
  • SOC 2 journey is still in progress

Who it suits

ReconcileIQ suits accountants and accounting professionals handling client reconciliations, as well as business owners who need to compare statements with accounting records. Its multi-currency support and integrations may fit users working across connected accounting software.

ReconcileIQ in depth

Read the full write-up

ReconcileIQ is bank-reconciliation software for accountants, accounting professionals and business owners. Its mix of flexible statement intake, configurable connections and correction workflows suits varied bookkeeping environments, while the credit and client caps make plan choice central to the fit.

Overview

ReconcileIQ compares bank statements with accounting records, identifies discrepancies and can push corrections to connected accounting software. It can run alongside existing accounting software or natively inside IQ Books, making it a focused reconciliation layer rather than a requirement to move an entire accounting operation.

The matching engine handles fuzzy descriptions, date variances and batch payments. Invoice-to-payment matching weights amount at 60%, description at 35% and date at 5%, with a 150-day window for late payments. That approach can accommodate imperfect remittance details, but amount dominates the score. The company claims throughput above 5,000 transactions per second; for most buyers, the monthly credit allowance is the more consequential capacity limit.

Key features

Broad statement intake: The parser accepts digital PDFs, scanned documents, phone photos, CSV, Excel, OAuth feeds and custom formats from any bank. This is a practical advantage for firms receiving records in inconsistent forms.

Accounting connections: OAuth integrations include QuickBooks, Xero, Sage, Pandle, FreeAgent and YNAB. QuickBooks, Xero, Sage and Pandle support posting; FreeAgent and YNAB are read-only, so users of those two cannot send corrections back through the integration.

Review and outputs: Users can review reconciliations, push corrections to connected software, or export PDF and CSV. API output and access support workflows that need a programmatic route as well as file exports.

Security approach: ReconcileIQ says it uses AES-256 encryption, processes files in isolated environments and deletes them automatically; the company says it is GDPR compliant and ICO registered. Its SOC 2 journey is in progress, a relevant distinction for organisations whose procurement requires completed certification.

Pricing

The free plan is genuinely ongoing, but its 1,000 one-off credits, one IQ Books organisation and cash-accounting-only restriction make it better for a small trial workload than continuing, varied reconciliation. It has no overage. Paid tiers are billed monthly, with included credits and capped per-credit charges after the allowance.

PlanPriceAllowance and fitStart Free£0 /forever1,000 one-off credits; 1 IQ Books organisation; cash accounting only; no overage. A limited way to assess the workflow.Starter£5 /mo5,000 credits/month; 1 IQ Books organisation; then £0.002/credit, capped. Suits a low-volume single-organisation user.Accountant£15 /mo25,000 credits/month; 5 IQ Books organisations; then £0.0015/credit, capped. A better match for an accountant handling several organisations.Practice Essential£39 /mo50,000 credits/month; up to 50 connected clients; then £0.001/credit, capped. Its client allowance targets a small practice.Practice Pro£79 /mo150,000 credits/month; up to 250 connected clients; then £0.0008/credit, capped. It offers substantially more client and credit capacity for a larger practice.Enterprise£199 /mo500,000 credits/month; up to 1,000 connected clients; then £0.0005/credit, capped. The largest stated allowance is aimed at high-volume operations.The lower paid tiers trade away both monthly capacity and multi-client reach, while the lower per-credit charge at higher tiers matters if usage exceeds the included credits. Starter lists email support; the founder says he usually responds within 24 hours.

Platforms

ReconcileIQ runs on web and offers an API. It can operate alongside existing accounting software or inside IQ Books, giving teams a choice of standalone or native use.

Who it's for

Accountants and accounting professionals are the clearest audience, particularly those reconciling multiple client accounts or receiving statements in varied formats. Business owners with a compatible accounting connection may also benefit from automatic matching and correction push-back. It is less suitable when a buyer needs write-back to FreeAgent or YNAB, or when required monthly work substantially exceeds the chosen plan's credits and client cap.

Pros and cons

Pro: Statement intake spans scans, photos, spreadsheets, bank feeds and custom formats, reducing reliance on a single clean export format.

Pro: Four integrations support posting corrections, and PDF, CSV and API outputs give users several ways to carry results forward.

Pro: Practice tiers raise both monthly credits and connected-client limits, with lower capped overage rates at higher tiers.

Con: Free use is restricted to 1,000 one-off credits and one IQ Books organisation, and is limited to cash accounting.

Con: FreeAgent and YNAB connections are read-only, limiting the correction workflow for users of those systems.

Con: SOC 2 is still in progress, which may rule it out for buyers requiring that certification today.

Alternatives

For a broader category comparison, see Payment Reconciliation Software.

UnPay Loan Management System has a free sandbox covering 15 products and 480 API endpoints, so it may suit readers evaluating a wider loan-management platform.

BankStatementMatcher offers a free plan with one statement a day, 500 rows per upload and CSV export; consider it for tightly capped, no-signup statement matching.

Fihary has a free tier for one mobile-money operator, one user and 10 transactions per day, making it a more focused option for small mobile-money workloads.

SettleFlow offers a free diagnostic with one source, 90 days of data and an order-level leakage report; choose it when that diagnostic is the priority.

LexaVero is an alternative to consider for marketplace reconciliation.

Invoiced uses custom pricing based on requirements and platform use; it may suit buyers who prefer a quoted arrangement.

Loopfour Payment Reconciliation is another paid option for web and API.

Recon-X starts at $199 a month for up to 10,000 transactions/month, two connected sources, standard AI matching and email support; compare it if those capacity and support terms fit your requirements.

Verdict

ReconcileIQ is a strong fit for accountants and practices that need flexible statement parsing, useful accounting connections and a route from discrepancy detection to correction. Its specific matching logic and growing practice tiers are compelling reasons to choose it; look elsewhere if read-only connections block your workflow, completed SOC 2 certification is essential, or the plan's credit and client limits do not match your workload.

Verdict

ReconcileIQ specifies its statement inputs, matching logic, integrations, and output options in detail. Check the credit allowance and plan limits against your reconciliation volume before choosing a tier.

Where Specifiction places it

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