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Bank reconciliationBlock management software
WiseBlock connects to each building's bank account over Open Banking, brings the statements in, and matches every line to the building's ledger. The few it can't be sure of go to your accountant with a suggested answer — so a quarter end is a few decisions, not a few weeks of ticking.
Illustrative statement from the demo building.
Sheet 01A quarter, reconciled
The building's ledger is already there. The bank connects, three statements come down, the agent matches them, and the two lines it won't guess at go to the accountant.
An illustrative example: Hawley Crescent Tower, its residents, suppliers and figures are fictional.
Sheet 02The connection
Each building's account is connected through Open Banking, the regulated way UK banks share account data with software you authorise. The connection is read-only: WiseBlock can see the statement lines, and it cannot move a penny.
Statements come in by period — a month, a quarter, the whole service charge year — and stay attached to the building they belong to. If an account isn't connected, statements can still be uploaded as PDF or CSV, and the Bank Specialist agent reads the lines out of them.
Income and spend are kept against the block they belong to, never pooled across the portfolio.
Every debit is filed under a budget heading, so a reconciled quarter also tells you where the money went.
Sheet 03How matching works
Matching is the slow part of reconciliation, and the part the agent does. It reads each bank line the way your accountant would.
Lines come in over Open Banking, or are read from an uploaded PDF or CSV, against the right building and period.
Each line is compared with the building's ledger — amount, date, reference and payee — including one payment that settles several entries.
When two entries fit equally well, or nothing fits, the line is marked for review with what the agent thinks it is.
Matched lines are reconciled and the bank balance is checked against the ledger.
Sheet 04Exceptions
A payment of £1,250 referenced "FLAT 12 TFR", when Flat 12 and Flat 21 both owe exactly £1,250, is not a coin toss. WiseBlock marks it needs review and puts it in front of the person who signs the accounts off, with the reference it read and the match it would suggest.
The same goes for a line with nothing behind it in the ledger — a bank charge, say. The accountant can match it, or add the missing entry under the right heading in one step.
Sheet 05The record
Service charge accounts are read by leaseholders, auditors and, sometimes, a tribunal. The trail is part of the job.
Every reconciled entry records the person who confirmed it and the time they did.
Statements and matches stay with the building and the period they belong to, so one block's quarter never leaks into another's.
Uploaded statements are kept with the reconciliation, so the evidence for every line is one click away.
Once a quarter is matched, the bank balance and the ledger balance are shown side by side.
Questions
No. The Open Banking connection is read-only: it can see statement lines and balances, and it cannot make payments.
Upload the statement as a PDF or CSV. The Bank Specialist agent reads the lines out of it, and they are matched exactly the same way.
They are marked needs review and sent to a person — usually your accountant — with the agent's suggested match and the reason it wasn't sure. Nothing is reconciled on a guess.
No. It takes the matching off their desk so their time goes on the decisions only they can make: the exceptions, and signing the accounts off.
Yes. A single bank line can be matched to several ledger entries, and several bank lines to one entry, which is how real payments often arrive.
Next step
A 30-minute demo on a portfolio like yours: fire safety, repairs, residents and service charges, with the agents switched on.
