How the Reconciliation Agent Works: Three Simple Steps

Reconciliations don’t need to be painful. With LuminaData’s Reconciliation Agent, the entire process boils down to three steps. Here’s a closer look at what happens at each stage.

Step 1: Create a New Reconciliation Task

This is where you tell the agent what kind of reconciliation you want to perform. You can:

Option A: Choose from Templates

• Select from pre-built templates for common reconciliations:

  • Bank-to-GL

  • Intercompany

  • Payroll & 401(k)

  • Carrier billing audits

  • Loan schedules
    
    

• These templates include standard matching logic, tolerances, and reporting formats—so you can be up and running in minutes. Here’s how a template looks like:

Option B: Build Your Own

• If your reconciliation is unique, you can design it yourself by:

  • Uploading your existing SOPs (step-by-step instructions you already use).

  • Or writing instructions in plain English:
    “Match by invoice number, allow ±3 business days on dates, flag variances greater than $250.”

The agent, powered by FinEdge LLM (our finance-trained large language model), interprets your instructions or SOP, then creates the configuration automatically. No formulas, macros or scripting is needed.

Step 2: Run the Task Every Period

Once your reconciliation task is created, running it becomes as routine as clicking a button.

• Upload or Connect Data: Drop in your files (Excel, CSV, or ERP exports) or link to a data source.

• Execute the Reconciliation: The agent instantly compares transactions across datasets, applies your logic, and generates matches.

• Exception Handling: Instead of wading through every line, you get a clear exceptions report—only the items that require human judgment.

• Audit Trail: Every run is logged with version control, so you always know what changed and when.

You don’t have to rebuild the logic each month. The agent remembers what you taught it, so you simply rerun the task for each period.

Step 3: Relax and Get Coffee ☕

Here’s where the real value kicks in.

• Time Saved: What used to take hours (or days) now takes minutes.

• Stress Reduced: Instead of scrambling at month-end, your team can reconcile continuously throughout the period.

• Focus Shifted: Staff spend their time on exceptions, insights, and client discussions—not on manual matching.

• Confidence Built: With 99.8% accuracy and audit-ready reports, you can trust the results when auditors or stakeholders ask for proof.

Instead of chasing mismatched transactions, you get back your most valuable resource: time. Time to advise clients, time to close faster, and yes—time to grab that coffee.

Why This Matters

The Reconciliation Agent transforms reconciliation from a manual grind into an automated, repeatable, and reliable process. Firms and finance teams that use it see:

• Up to 90% faster reconciliation cycles

• Fewer human errors with 99.8% accuracy

• ROI in the first month through time saved and hidden cost recoveries
  
  

This isn’t about replacing accountants. It’s about giving them AI coworkers to handle the busywork so they can focus on what really matters.

Ready to see it in action? Request a Demo and discover how easy reconciliation can be.