Automating Bank Reconciliation with Zoho RPA for a Leading Retail Company

The client used a billing software integrated with SAP ERP to record sales transactions in real time. However, payments made through credit/debit cards and UPI were only settled into the bank account the next day. Each day, the swiping machine provider would send a settlement report detailing individual transactions along with GST, transaction fees, and GST on fees. The settlement amount shown in the bank statements would be the invoice/bill amount (minus) the transaction fee (minus) the GST applied on the transaction fee. The accounting team was then responsible for cross-verifying the ERP data with the settlement reports and matching them with the bank statements, which was an intensive process prone to human error.

This daily reconciliation process consumed several man-hours, led to occasional mismatches and delays, and hampered the team’s ability to focus on more strategic financial tasks.