RecHound is a cloud-based balance sheet reconciliation tool designed for companies using Xero. It replaces spreadsheet-based reconciliations by syncing directly with your Xero data, allowing you to clear transactions mid-month, track prepayments, manage intercompany balances, and store all workpapers securely in the cloud.

How does RecHound integrate with Xero?

RecHound connects directly to your Xero account via Xero's official API. Once connected, it pulls your trial balance and transactions automatically, refreshing every hour. You can also trigger a manual sync for real-time updates. No CSV exports or copy-pasting required.

How much does RecHound cost?

RecHound pricing starts from AUD $10 per company per month for the XL plan (up to 50 companies) and goes up to AUD $35 per company per month for the S plan (up to 2 companies). All plans include unlimited users. A 30-day free trial is available with no obligation, and RecHound is free for registered non-profit organisations.

What is balance sheet reconciliation?

Balance sheet reconciliation is the process of verifying that the balances in your accounting system match supporting documentation and real-world records. It is typically performed at month-end to ensure accuracy of assets, liabilities, and equity accounts. RecHound automates this process for Xero users by pulling live balances and letting you clear, document, and approve each account.

Can I clear transactions mid-month with RecHound?

Yes. RecHound's transaction clearing feature lets you match and clear transactions that net to zero at any time during the month, not just at month-end. This helps keep your balance sheet accounts tidy throughout the period and reduces the workload at month-end close.

Does RecHound support intercompany reconciliation?

Yes. RecHound includes an intercompany reconciliation feature that allows you to match balances and transactions between related Xero entities. This is especially useful for groups of companies that need to reconcile intercompany loans, payables, and receivables as part of their month-end process.

Is RecHound free for non-profits?

Yes. RecHound offers its balance sheet reconciliation tool free of charge to registered non-profit organisations. Non-profits can apply by emailing info@rechound.com with proof of their non-profit status and a brief description of their mission.

How long does it take to set up RecHound?

RecHound can be set up in minutes. After connecting your Xero account, RecHound begins syncing your company's data automatically. The initial sync may take longer for larger entities as it pulls your full journal history, but once complete, ongoing syncs happen hourly.

What accounting software does RecHound work with?

RecHound currently integrates exclusively with Xero. A QuickBooks integration is planned for the future. RecHound is built specifically for the Xero ecosystem and leverages its API for real-time balance and transaction data.

How is RecHound different from using spreadsheets for reconciliation?

Unlike spreadsheets, RecHound syncs live data from Xero so your reconciliations are always current. It eliminates manual data exports, reduces errors from copy-pasting, provides a shared workspace with preparer and approver roles, and lets you roll forward your reconciliations with a single click each month. Users report saving 15+ hours per month compared to spreadsheet-based workflows.

Lights out

Alex Lacota
2 days ago
1 min read

Our coat of paint update has just been released - the first of a few major incoming updates.

Functional changes in this update:

Submit, Approve or Reject workpapers directly from your homepage.
Our new look approval workflow will create a more seamless experience for both creator and approver.
View and compare prior period balances directly from your homepage using new additional columns.
Add in columns using the new toolbar. We intend to further develop this as new features are added.
Locked periods are easier to discern
Yeah we apologise for what we had previously - the feedback was 100% right.
Dark mode
Late night in-bed-with-laptop reconciliations have never been better on the eyes. Access this using the account icon from any page.

Oh and one more thing...

Introducing: Auto-Matching!

As part of this update, we have released our first iteration of auto-matching.

In any account, a matching algorithm will automatically run. It will not delay the appearance of transactions in any way - it runs after all transactions are loaded.

This algorithm will seek matching transactions and suggest a reconciliation to perform. This will change the game for certain accounts, and will get significantly smarter and wider reaching in our 2nd iteration which will be coming in the next week or 2.

This is just a teaser for the full feature, so give it a try and see how much time this one saves! Look for the "Matches Found" icon in your account transaction listings.