BANK STATEMENTS
Bank statements, reconciled in a few clicks
Import statements in CSV, MT940, camt.053 or PDF with a balance check on every file. Cove scores every transaction against your invoices, expenses and revenue, and one click settles the unambiguous invoice matches and marks those invoices paid.
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 checks the opening balance plus the movements against the closing balance, and a mismatch is shown before anything is saved. Then one click on Auto-match settles what is unambiguous.
Four import formats
CSV, MT940 and camt.053 parse deterministically. PDF statements are read by AI and metered as a single AI extraction.
A balance check on every import
Opening balance plus the imported lines should equal the closing balance. A discrepancy is surfaced before anything is saved, and a statement you import anyway is marked Unverified.
Matching on four signals
The amount, the invoice number inside the payment reference, the counterparty name, and a date window after the document — each carries its own weight, and below a threshold Cove suggests nothing at all.
Invoices marked paid automatically
When the invoice number is in the reference and the amount matches exactly in the same currency, Auto-match settles the movement without asking and marks the invoice paid. Two equally good invoices for one movement hand the decision back to you.
Three steps to a reconciled month
The workflow stays the same whether you upload files yourself or let statements arrive on their own.
- Step 1
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.
- Step 2
Auto-match
Press Auto-match: a movement whose reference carries an invoice number and whose amount matches exactly settles without asking, and the invoice is marked paid. For expenses and revenue Cove always suggests, and you decide.
- Step 3
Review and post
Remaining lines come with suggested matches and a candidate search. Confirm them, and in Accounting each matched movement becomes a balanced journal entry for you to post.
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, your call
A EUR invoice paid from a BGN account is matched by hand: the candidate list converts the document amount at the movement date and sorts by proximity. Automatic settlement stays within one currency — it does not decide for you when the currencies differ.
FX differences booked correctly
On confirmation the bank entry settles the receivable at the converted amount and the residual posts to 624 or 724 as an FX difference. When the currencies agree the residual is not an FX difference and books to 709 and 629.
Configurable amount tolerance
A “close amount” is accepted within a per-workspace tolerance — 1 percent by default, with a floor of one currency unit on small amounts. Zero means exact amounts only.
A missing rate invents no figure
A foreign-currency candidate whose rate cannot be resolved is dropped from the list rather than shown one-to-one. The record keeps its original amount and currency — an import never blocks on FX and never restates a sum.
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.