Rillet is an ERP platform based on artificial intelligence that assists finance teams in managing accounting and financial operations through a single solution. The key functions that Rillet integrates into its platform include general ledger management, accounts payable, accounts receivable, bank reconciliation and financial reporting.

Automation is used to handle regular accounting tasks and minimize the manual effort required for financial processes. The software also integrates with other solutions to help companies collect financial data in a single place.

Rillet provides finance teams with greater access to financial data while supporting accounting and reporting activities. Invoicing and payment processing, transaction reconciliation and journal entries are some of the tasks that the software can handle. The company also provides solutions for deferred revenue management, prepaid expense management and fixed asset management.

Rillet’s Product Offerings

Automated General Ledger

Rillet's Automated General Ledger helps reduce the manual work involved in accounting and month-end closing. The system collects financial data, processes it and posts entries to the general ledger. Finance teams can review and approve the information when necessary before it is recorded. This helps maintain consistency across accounting records and financial reports.

The system can also create journal entries based on contracts, invoices and bills. It supports schedules for deferred revenue, prepaid expenses and fixed assets, reducing the need to manage these tasks in separate spreadsheets. Businesses can upload data in batches or through APIs.

Rillet brings accounting and reporting tasks together on one platform. By automating entries and maintaining supporting schedules, it gives finance teams more time to review results, investigate differences and share information with other departments.

Accounts Receivable

Rillet's Accounts Receivable product helps businesses handle customer invoicing and track payments. It connects contract information from a business's CRM system with its financial processes. After the finance team reviews and approves the details, Rillet can create invoices automatically. Invoice schedules can be based on contract terms and adjusted to meet individual customer requirements.

Rillet supports payment links and automated reminders. These features help customers pay their invoices and allow finance teams to follow up on unpaid amounts. Through its Stripe integration, contracts, invoices, products and customer information remain synchronised. Payments can be matched with the relevant invoices, and the corresponding journal entries can be recorded in the general ledger.

Businesses can manage usage-based billing by importing customer usage data through an API or CSV file. They can also create individual invoices manually, use templates or generate them through the public API. The accounts receivable ageing report helps finance teams identify overdue invoices and check their payment status. This gives businesses a clearer view of outstanding customer payments.

Accounts Payable

Rillet's Accounts Payable product helps businesses manage supplier invoices, record expenses and maintain financial records. It connects with existing accounts payable tools to synchronise transactions and post them to the general ledger. This reduces the need to enter the same information into multiple systems.

The product supports contractor information management, 1099 reporting and the tracking of VAT and GST details. Businesses can also connect tax software such as Avalara and Anrok. For expenses paid in advance, Rillet uses the bill's service period to create a prepaid expense schedule and post journal entries to the appropriate accounts.

The software also supports automated journal entries for recurring bank and credit card transactions. Rillet's AI can review previous vendor bills and service periods to suggest accruals for the following month. Finance teams can review these suggestions before posting them. These features help reduce manual data entry while allowing finance professionals to retain control over routine accounting tasks.

Bank Reconciliation

Rillet's Bank Reconciliation product helps finance teams match bank transactions with invoices, bills and accounting records. The platform connects with more than 12,000 banks and financial institutions through standard integrations and data aggregators. It also supports custom integrations with institutions such as JPMorgan Access and HSBC.

The software uses machine learning to match incoming bank transactions with the relevant invoices and bills. Its models automatically match more than 95% of incoming bank transactions. When the system cannot find a match, it suggests possible options for the finance team to review.

Rillet also integrates with Stripe to synchronise payment information, including payments, refunds, voids and fees. For recurring transactions from the same vendors, its Quick Entries feature can create journal entries using predefined general ledger accounts and reporting categories. When a transaction involves a new vendor, the AI can suggest suitable coding for the finance team to review.

These features help businesses keep bank transactions and accounting records aligned. They also reduce repetitive reconciliation work and help finance teams prepare their books for closing.

Nicolas Kopp - Founder & CEO

Rillet brings accounting, automation and financial management together, helping finance teams manage complex processes with greater efficiency and control.