Question 1

What is RecHound?

Accepted Answer

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.

Question 2

How does RecHound integrate with Xero?

Accepted Answer

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.

Question 3

How much does RecHound cost?

Accepted Answer

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.

Question 4

What is balance sheet reconciliation?

Accepted Answer

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.

Question 5

Can I clear transactions mid-month with RecHound?

Accepted Answer

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.

Question 6

Does RecHound support intercompany reconciliation?

Accepted Answer

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.

Question 7

Is RecHound free for non-profits?

Accepted Answer

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.

Question 8

How long does it take to set up RecHound?

Accepted Answer

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.

Question 9

What accounting software does RecHound work with?

Accepted Answer

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.

Question 10

How is RecHound different from using spreadsheets for reconciliation?

Accepted Answer

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.

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James Smith

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