Bank reconciliation and Balance Sheet reconciliation, now in Mimo Associate

This week we're shipping bank reconciliation and balance sheet reconciliation in Mimo Associate.

These are the two workflows where senior accountants spend the most manual time at the financial close. Balance sheet reconciliation takes five to six hours per client. A standard bank mismatch investigation takes thirty minutes when the statement is clean, two or three hours when it's not. Most tools haven't materially changed the work in years.

Bank Reconciliation

Upload a statement and the agent reconciles it against Xero line by line. Every mismatch is categorised by type: missing in Xero, extra in Xero, duplicate, timing difference, user-created. The reason is attached to each one.

For credit cards, statement periods rarely align to month-end. Associate computes the statement balance as of your target date automatically, even when the statement runs mid-month to mid-month. Multi-cardholder accounts are separated by cardholder.

Where you need to post an entry, Spend Money and Receive Money are created in flow with the contact, account, tax rate, and date pre-filled. The final step happens in Xero, the way you do it now.

A complex multi-card credit card reconciliation that took three to four hours now runs in under thirty minutes.

Balance Sheet Reconciliation

The whole balance sheet, in one place. Upload your supporting files - payroll reports, loan schedules, aged debtors lists, fixed asset registers, VAT returns - and the agent reads them, pulls the matching balances from Xero, and runs the reconciliation across every account in the group.

The workflows you'd recognise are there as presets: payroll, directors' loans with full S455 and beneficial-loan BIK calculations, VAT returns, fixed assets, aged debtors and creditors, stock. But any account on the balance sheet is reconcilable, with the agent's reasoning surfaced for every one.

When the agent finds a variance, it shows you where the variance came from. When it finds something that shouldn't be there, like a debit balance on a creditors account, an overdrawn director's loan with the S455 exposure calculated or a missing employment allowance entry, it flags it with the reason.

Adjustments are surfaced as a list of suggestions on what you can take action on, or ignore. When you're done, export the full reconciliation report: balances from Xero, balances from source, variances, all suggested actions, the agent's chat history as an audit trail.

Why this matters

A senior accountant's review takes five to six hours because the work is reasoning, not lookup. Most AI tools for accountants today don't do reasoning - they summarise, draft, or chat. We're shipping the part that actually moves the needle.

The agent does the detective work. You make the calls.

Book a demo to see it in action.