AI reconciliation with Totum: TDS, GST, bank, and vendor records

One transaction, several records to align

Reconciliation is the work of comparing records and explaining the differences. For a finance team, that includes bank activity, vendor statements, GST records, and tax deducted at source, or TDS.

Totum helps teams work through those comparisons using the records available for the task. Keep the company, account or registration, and period consistent. An unexplained difference needs investigation before it becomes an accounting change.

Bank reconciliation: connect money movement to the books

Compare the bank’s receipts and payments with the entries in your accounting system. Totum helps identify likely matches and the activity that still needs attention.

A difference may be a missing entry, a bank charge, or a payment recorded in a different period. Check the date, reference, party, and amount together. Resolve the cause before deciding that a new entry is needed.

Vendor reconciliation: understand what you actually owe

A supplier’s statement and your payable balance should tell a consistent story. Totum helps compare vendor records so your team can investigate missing bills, unmatched payments, and adjustments.

Work at the transaction level. An opening balance can hide an older difference, and an identical closing total can hide offsetting errors. Establish which invoices, payments, and credit notes account for the difference before approving a correction.

GST reconciliation: compare the invoice and tax records

Totum supports comparing GST-related records for the relevant company, registration, and period. For purchase-side review, that can include the purchase register and the available GSTR-2B data supplied for the workflow.

Check invoice references, supplier details, taxable values, and tax amounts. Separate a missing document from a value mismatch or a timing difference so the team knows what to follow up.

A match is part of the review. It does not by itself determine tax-credit eligibility or complete a return filing.

TDS reconciliation: trace the deduction or credit

Totum supports reconciling TDS records so teams can investigate differences between the books and the supporting tax information provided for the task. Be clear whether you are reviewing tax deducted by your company or a credit for tax deducted from its income.

Compare the party, period, amount, and relevant references. Where you are reviewing tax credits, compare against the applicable tax-credit statement and supporting certificates. A difference can require a follow-up with the counterparty as well as a review of the books.

Keep the investigation separate from filing or amending a tax return. The accountant decides what action the evidence supports.

A practical workflow from statement to review

Start with the correct company, bank account, and period. Use the available bank data or statement for that workflow, together with the relevant accounting records.

Review suggested matches and investigate the remaining differences. A similar amount is a clue, not proof. The party, date, reference, and supporting document help establish whether two records belong together.

1. Confirm which company owns the bank account.
2. Review the bank activity against that company’s books.
3. Check likely matches and inspect the items that remain unresolved.
4. Investigate missing entries, timing differences, and unclear references.
5. Review and approve any accounting write action separately.

Why multiple entities make this harder

A group might run a finance business, a service company, and a holding company. Each has its own bank activity and books. A shared finance team still has to keep those records separate.

Apply the same separation to vendor ledgers, GST registrations, and TDS records. Keep the relevant entity and reporting period attached to every comparison. Shared finance staff do not make separate company records interchangeable.

In an illustrative group like this, Totum can support reconciliation work in each company’s context. The practical benefit is a repeatable review routine across entities, with less jumping between disconnected requests and documents.

A transfer between two group companies needs attention on both sides. Reconcile each company’s bank activity against its own records. Bank reconciliation alone does not establish that intercompany balances agree.

Turn an exception into completed accounting work

Suppose a bank charge appears on the statement but has no corresponding entry. The next step is to verify the charge and prepare the appropriate accounting action.

Totum’s write flows let teams move from identifying work to preparing an entry for review and posting through the connected workflow. Keep the distinction clear: a suggested match, an approved entry, and a confirmed posting are different outcomes.

How to tell whether it is helping

Measure the same period before and after introducing the workflow. Track time spent reviewing, the number of unresolved items, the age of outstanding differences, and entries that needed correction.

For multiple entities, measure each company separately as well as the team’s total effort. Track unresolved items by bank, vendor, GST, and TDS review so a completed bank reconciliation does not hide work still waiting elsewhere.

This is the useful result to aim for: your team spends more of its time resolving real differences and less of it gathering records. Specific savings depend on transaction volume, data quality, and the work being automated.

Use reconciliation to investigate historical books

Older differences often need several records to explain them. Start with the original document, compare the related bank, vendor, or tax information, and identify the period where the records began to diverge.

Totum helps bring that investigation together. Review any proposed accounting correction and confirm the result before considering the historical difference resolved.

Totum, TallyPrime, and Zoho Books: where each fits

TallyPrime offers automatic bank reconciliation with smart matching suggestions. Zoho Books describes AI-assisted field predictions and bank rules. Both are relevant choices when reconciliation is centred on their own accounting environment.

Evaluate Totum when reconciliation is part of a wider job involving documents from Gmail or Slack, accounting write flows, and several companies. Test the full path from an unresolved item to the reviewed accounting result.

Compare coverage for each reconciliation type, the quality of suggestions, company separation, and how much work remains after the match. Product capabilities and connector availability should be checked for your setup.

When a difference points to an older issue, use the approach in finding data and aligning historical books. If it needs an accounting action, follow the write-flow guide.