Real estate finance teams using MRI Software's Platform X manage complex portfolios with multiple entities, bank accounts, and transaction types flowing through their systems daily. Bank reconciliation, matching bank transactions to ERP records, is essential for accurate financial reporting, but manual processes consume hours and introduce risk. Here's what you need to know about automating bank reconciliation for MRI Platform X.
What is automated bank reconciliation for MRI Platform X?
Automated bank reconciliation connects your bank accounts directly to MRI Platform X, matching transactions in real-time without manual data entry. Instead of downloading bank statements, comparing them to your general ledger, and manually clearing items, the system ingests bank data automatically via direct feeds, BAI2 files, MT940 formats, or CSV uploads and matches transactions based on amount, date, check number, description, and batch identifiers. Your team reviews only the exceptions that require attention.
How does bank data get into the system?
Multiple ingestion paths accommodate different banking relationships and regional requirements. Direct bank feeds from institutions such as RBC, Wells Fargo, and central banks in Canada and internationally automatically pull transaction data. File-based imports support industry-standard formats, including BAI2 (common in North America), MT-940 (SWIFT international format), and CSV. FTP automation enables scheduled file transfers from banks that provide data exports. This flexibility lets you consolidate reconciliation across your entire portfolio, regardless of banking relationships.
What types of transactions can be matched automatically?
AI-driven matching handles the full range of transaction types in commercial real estate operations. Standard matches include payments, deposits, and journal entries cleared against bank transactions. The system also supports 1:1 matching (one bank transaction to one ERP record), 1:N matching (one bank transaction to multiple ERP records, familiar with batch deposits), and N:1 matching (multiple bank transactions to one ERP record). ACH batch auto-matching groups electronic transfers by batch identifier, and credit card reconciliation handles card-based transactions.
What happens when transactions don't match automatically?
Unmatched items surface in an exception queue for review. From there, your team can create the appropriate accounting entries directly within the system: journal entries with multi-line GL allocations and job/cost codes, receipts for Commercial Management, Corporate AR, tenant payments, non-tenant receipts, and security deposits, deposits for bank deposits not yet recorded in the ERP, and bank adjustments to carry forward discrepancies when appropriate. These entries post to the MRI Platform X via Open Batch, maintaining the standard ERP workflow.
How does this integrate with MRI Platform X workflows?
The solution synchronizes with MRI Platform X on demand, pulling master data and transactional records into the reconciliation system. Reconciliation periods align with your MRI period structure. When you create accounting entries, receipts, journal entries, and deposits, they flow into MRI via Open Batch, appearing in your ERP for posting and approval through your standard process. After posting, re-importing brings the transactions back for final reconciliation. Entity locking prevents changes during critical periods, and all actions maintain a complete audit trail.
What about multi-entity portfolios?
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Enterprise-grade reconciliation is designed for portfolios with dozens or hundreds of entities. Each property can maintain its own operating, security deposit, and reserve bank accounts, while the system provides consolidated visibility across the portfolio. Entity-level reconciliation tracks balances per property, while portfolio-level dashboards show unmatched items, cash positions, and reconciliation status across all entities. This transforms bank reconciliation from a monthly scramble into a continuous process with real-time insight into your cash position.
What results can finance teams expect?
Organizations implementing automated bank reconciliation report significant improvements in efficiency and accuracy. Daily reconciliations that previously consumed hours are now completed in 10-15 minutes. Time savings of 70% or more are typical, particularly for portfolios with high transaction volumes. Auto-matching handles routine transactions, freeing your team's attention for exceptions that genuinely require human judgment. The result is faster month-end close, reduced error rates, and continuous visibility into cash positions across your portfolio.
Getting Started with KriyaGo Treasury 360
KriyaBalance, part of the KriyaGo Treasury 360 suite, delivers automated bank reconciliation, purpose-built for MRI Platform X. Combined with KriyaVision for AI-powered invoice processing and KriyaCash for payment and cash management, Treasury 360 provides an integrated finance operations platform that connects directly to your banks and your ERP. Real estate organizations using the suite report 95% invoice auto-coding rates and multi-million dollar annual savings from streamlined financial operations.
For MRI Platform X users ready to move from monthly reconciliation bottlenecks to continuous, automated financial control, Treasury 360 offers a path forward without replacing your core ERP or disrupting existing workflows.
Ready to automate your MRI Platform X bank reconciliation?
See KriyaBalance in action with your bank statements and MRI data. Request a demo to explore how Treasury 360 transforms bank reconciliation for real estate finance teams.
