Equility

Equility develops cloud software that automates bank reconciliation and financial review for accounting professionals and small businesses working in QuickBooks Online. Its core product, AutoRec, matches bank-feed transactions against the QuickBooks general ledger on a user-defined schedule, scores each match with supporting evidence, groups transactions that settle together, and routes items it cannot place confidently to an exceptions list rather than posting them to the books. The company states that up to 95% of transactions reconcile without manual review and that reconciliation time falls by as much as 95%.

Beyond reconciliation, the platform runs automated financial reviews that check depreciation and amortization balances, undeposited funds, asset and liability account treatment relative to a business's tax structure, and equity allocations, flagging non-compliant entries. Users can create custom rules per client. The product also includes analytics dashboards and variance and audit-trail reporting, a bank statement PDF parser sold on a per-page credit basis, and a QuickBooks Online plug-in that lets users launch a reconciliation from within QuickBooks via a "Reconcile with Equility" button. Setup involves linking a QuickBooks company and bank accounts through Plaid or uploading CSV files, after which transactions import automatically.

Equility additionally offers human services: a team of US-based bookkeepers handling account reconciliations, e-commerce data entry, payroll reconciliations, and depreciation and amortization entries, plus advisory calls to help customers resolve issues the platform flags.

Founding story

Founder Michael Nieto previously owned an accounting firm, where he remained responsible for the financial review process across all client accounts even after hiring staff. He has said the tedious nature of that work cut into the firm's gross margins, which prompted him to create Equility. The company dates its journey to 2022.

Business model

Software-as-a-service sold by monthly subscription, supplemented by consumable credits for PDF bank-statement parsing and by human bookkeeping and advisory services.

A Premium plan is priced at $15 per month and includes QuickBooks Online connectivity, the account reconciliation module, the financial review module, and advisory support. PDF parsing credits are sold in packs: 100 credits for $20.00 ($0.20/credit), 500 for $90.00 ($0.18/credit), 1,000 for $160.00 ($0.16/credit), and 5,000 for $750.00 ($0.15/credit); one credit parses one PDF page and credits are shared across a team. A 14-day free trial with 20 PDF parser credits is offered with no credit card required, and subscriptions can be cancelled at any time without long-term contracts or cancellation fees. Payment is accepted by major credit cards, with invoicing available for annual plans.

Traction

The company reports more than 500 accounting professionals as customers, over 10,000 reconciliations processed, and more than 200 hours saved monthly. It cites 95% of transactions auto-matched, roughly 10x faster month-end close, and about five hours saved per reconciliation. A third-party business directory estimates annual revenue of approximately $598,885 and revenue per employee of about $86,000.

Latest developments

The website markets AutoRec, a scheduled reconciliation engine that matches bank feeds to the QuickBooks general ledger and produces an exceptions list, alongside a credit-based bank statement PDF parser and a pricing comparison page for users migrating from Botkeeper.