ReconcileIQ vs SettleFlow
ReconcileIQ
reconcileiq.comSettleFlow
settleflow.inSide by side
| Figure | ReconcileIQ | SettleFlow |
|---|---|---|
| Price from | £5/mo | ₹9,999/mo |
| Free plan | Yes | Yes |
| Free trial | Yes | — |
| Open source | — | — |
| Web | Yes | Yes |
| API | Yes | Yes |
| Plans published | 6 | 5 |
| Spec score · Payment Reconciliation Software | 8.6 (#4) | 8.5 (#5) |
| Company profile | Jack Whitehead's LinkedIn profile identifies him in the Greater Cheshire West and Chester area and associates him with The Accountancy Partnership. | LinkedIn describes SettleFlow as a privately held financial-services company with 2–10 employees in Noida and a 2023 founding year. |
| Documentation | The maker provides product guides covering statement imports, mappings, matching exceptions and final reconciliation workflows. | The public site provides feature, FAQ, pricing, privacy and terms pages but no separate public developer documentation was identified. |
| Exports | Completed reconciliations can produce summary, matched-pair and exception outputs in PDF, CSV or Excel. | Every table exports to CSV and each reconciliation produces a workbook with summary and order-level detail. |
| Headquarters | United Kingdom | Sector 10, Noida, Uttar Pradesh, India |
| Purpose | ReconcileIQ matches bank statements against accounting records, identifies discrepancies, and can push fixes back to accounting software. | SettleFlow reconciles payment gateway, marketplace, bank and accounting data to identify differences in settlements and fees. |
| 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. | The site says workspaces are separated using PostgreSQL row-level security and stored API credentials are encrypted before reaching the database. |
| What it does | ReconcileIQ, branded on current pages as Bank Reconciler, compares bank statements with accounting books, identifies discrepancies and can send fixes back. | SettleFlow reconciles payment gateway, marketplace, bank, accounting and internal order data for Indian finance teams. |
Plans
ReconcileIQ
- Start FreeFree
- Starter£5 a month
- Accountant£15 a month
- Practice Essential£78 a month
- Practice Pro£158 a month
- Enterprise£398 a month
SettleFlow
- Free DiagnosticFree
- Starter₹9,999 a month
- Growth₹19,999 a month
- Scale₹35,000 a month
- CA firms, agencies & custom₹60,000 a month
In their own words
ReconcileIQ
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.
SettleFlow
SettleFlow is a web service for Indian sellers, agencies, and CA firms that reconciles payment gateway, marketplace, bank, and accounting data. It recalculates fees against applicable rate cards and flags commission differences, shipping or weight errors, duplicate deductions, and unsettled orders. GST checks connect settlement data with GSTR-1 and GSTR-3B and examine marketplace TCS reported in GSTR-8. Data can come from listed payment processors, marketplaces, accounting tools, databases, bank statements, and the GST portal. Users may upload settlement, order, and returns reports as CSV or Excel, or use scoped read-only API access where available. Findings show claim deadlines, filing routes, and required evidence, with tracking for claims and recoveries. Runs create downloadable CSV tables and workbooks containing summaries and order-level detail; an audit trail records operational changes. Workspaces provide owner, admin, analyst, and read-only roles, multiple entities, and client management. Plans start at ₹9,999 a month, with a free diagnostic option.