Extr@i's diverse functionality includes the tools to reconcile a company's payment request phase with its funds collection phase.

In order to reconcile transaction Extr@i draws information from the company's internal systems (eg. Debtors, Invoicing, Payment Systems).
Extr@i can use the information from these multiple systems, (and any other additional user defined information, not contained in any of the existing systems) to produce an invoice to the client or a direct debit request to the client's bank.

Extr@i then records these outputs in its database. In the case of a direct debit it produces a "virtual invoice". Regardless of the output format, Extr@i retains a full record of the transaction.

At the end of the payment cycle, the company's bank forwards a Bank Statement showing all the transactions processed by the bank. Extr@i electronically imports the Bank Statement transactions and then automatically cross-references each transaction against the existing transaction records held in the Extr@i database.

When the two records are matched they are automatically marked as reconciled and the information automatically passed back to the company's internal systems.

Unmatched transactions that cannot be reconciled are highlighted.

Some transactions that do not have a corresponding record held in Extr@i can be anticipated, knowing in advance that they will be on the "Statement". These transactions can be used to update the area or company's internal systems.

Some transactions that do not have a corresponding record held in Extr@i (eg Bank charges) can be anticipated. These unmatched transactions may be used to automatically update the companies General Ledger.