BANK STATEMENTS
Bank statements that reconcile themselves
Import statements in CSV, MT940, camt.053 or PDF with a mandatory balance check. Cove matches every transaction to invoices, expenses and revenue — and marks matched invoices paid.
Import a statement, pass the balance check and reconcile a full month of transactions in one pass.
IMPORT AND RECONCILIATION
From bank file to matched records
Structured formats parse deterministically — CSV with automatic delimiter detection, MT940 and camt.053 XML — while PDF statements are extracted with AI. Every import runs a mandatory opening and closing balance verification, so the numbers are proven before a single transaction lands. Then auto-reconciliation goes to work.
Four import formats
CSV, MT940 and camt.053 parse deterministically. PDF statements are read by AI and metered as a single AI extraction.
Mandatory balance check
Opening balance plus imported lines must equal the closing balance. Discrepancies are surfaced before anything is saved.
Matching on three signals
Transactions match against invoices, expenses and revenue by reference number, counterparty name and date window.
Invoices marked paid automatically
When an incoming payment matches an issued invoice, Cove marks the invoice paid — no separate step.
Three steps to a reconciled month
The workflow stays the same whether you upload files yourself or let statements arrive on their own.
- 01
Import
Upload a CSV, MT940, camt.053 or PDF file — or let the email agent pick statements straight from mailbox attachments. The balance check runs on every import.
- 02
Auto-match
Cove reconciles transactions against invoices, expenses and revenue by reference, counterparty and date, and marks matched invoices paid.
- 03
Review and post
Remaining lines come with suggested matches and a candidate search. Confirm them, and balanced journal entries land in the ledger.
Everything around the workflow
Multi-currency payments, the email agent, the ledger and the API — the bank module plugs into the rest of Cove.
Multi-currency matching
A EUR invoice paid from a BGN account still matches — Cove converts at the transaction date through the fixed BGN-EUR peg, cached rates and ECB reference rates.
FX differences booked correctly
Cross-currency residuals post as FX differences to accounts 624 and 724; same-currency residuals book to 709 and 629.
Configurable tolerance
Cross-currency matches accept a per-workspace tolerance — 1 percent by default — so rounding never blocks a match.
Never stuck on a rate
If a rate cannot be resolved, the original amount and currency are kept and flagged for review — an import never blocks on FX.
Email-agent auto-import
Statements arriving as email attachments are classified and can import automatically.
Ledger postings
Matched bank transactions generate balanced journal entries in the double-entry ledger automatically.
API and MCP access
Import and reconcile statements programmatically through the public REST API and the MCP server.
File Storage
Imported statements save into File Storage alongside the records they reconcile.