Smart Bank Reconciliation and Developer Portal: inside Wafeq’s Latest Product Release



How much of your week goes into work that feels the same every time? Matching bank lines to bills. Opening emailed receipts one by one. Retyping the same customer details on every invoice. Exporting a report, then rebuilding it in a spreadsheet to see how this quarter compares to the last.

This month, we went after exactly that kind of work. From late August through September, the Wafeq team shipped eleven updates, and together they handed a surprising amount of your routine back to the system, so you can spend your time on the numbers instead of the clicks.

Here is what's new:

• Suggested Reconciliation: Wafeq now proposes matches between your bank transactions and your documents
• A redesigned Inbox: process emailed bills and receipts faster, with an AI agent that can do it for you
• Smarter reports: quarterly P&L, period-over-period % change, collapsible account levels, and custom aging buckets
• Drill down on Sales by Item: click from any line straight into the transactions behind it
• Accurate inventory costs on negative stock: no more zero-cost sales when you sell before stock is recorded
• Contact custom fields on invoices: enter a customer detail once, and it appears on every invoice
• FX rate and base-currency totals on PDFs: foreign-currency documents now show both
• Bulk e-invoicing upgrades: one unified export, plus a Source column showing where every document came from
• A cleaner Bank Accounts page: pin your most-used accounts and see more at a glance
• The Wafeq Developer Portal: build your own integrations with Wafeq, no ticket or subscription needed
• A new sign-up experience: a faster start for new users, with the Wafeq mobile app front and center

Let's start with the one we're most excited about.

1. Suggested Reconciliation: Your Bank Lines, Matched for You

Bank reconciliation is one of those tasks that never really ends. Every new transaction that lands in your statement is another line to read, another document to search for, another match to confirm. For businesses with busy accounts, that can mean hours every month spent on work that is mostly pattern-matching.

With Suggested Reconciliation, Wafeq does the searching for you. The system now looks at each bank transaction and proposes the document it most likely belongs to.



How it finds the right match:

• Amount, date, and description: Wafeq compares all three to find the document that fits best.
• Across languages: matches still surface even when the bank description is in one language and your document is in another, which is everyday reality for teams working in Arabic and English.
• Transparent reasoning: every suggestion shows why Wafeq thinks the match makes sense, so you can approve with confidence instead of guessing.
• Organized for review: suggestions are grouped into those ready to approve and those that need a closer look, so you can clear the easy ones fast and focus your attention where it counts.
• Undo built in: approved something by mistake? Reverse it in a click.

2. A Redesigned Inbox, With an AI Agent That Does the Processing

If reconciliation is where your bank data comes together, your Inbox is where your documents arrive. Vendors email bills, team members forward receipts, and each one of them needs to become a proper record in your books.

We've rebuilt the Inbox experience from the ground up to make that process faster and cleaner. Documents sent to your Wafeq inbox are now easier to review and turn into bills or expenses, and you can hand the processing over to Wafeq's AI agent entirely.

What changes in your day:

• Let the AI agent do the work: instead of opening each document and filling in the details yourself, the agent can process it for you
• A clear review queue: a dedicated view shows everything still waiting for review, so nothing slips through the cracks
• Automatic tracking: once a document is posted, it's marked as reviewed on its own, so your queue always reflects reality
• Faster verification: attachments sit right at the top, next to the original email, so checking a posting against its source takes seconds

The outcome is a shorter path from "email received" to "recorded in the books." Less copying, fewer missed receipts, and a much clearer picture of what still needs your attention.

3. Reports That Answer More Questions on Their Own

Once your transactions are matched and your documents recorded, the next question is always the same: what are the numbers telling us? This month, our core financial reports got a set of upgrades designed to answer that question inside Wafeq, without the detour through a spreadsheet.

What's new in reporting:

• Expand or collapse account levels: on the P&L, Balance Sheet, Trial Balance, and Chart of Accounts, open up the detail you need or roll it up for a cleaner summary. Your view carries over when you export, so the file looks exactly like the screen
• P&L by quarter: see performance quarter by quarter, the view most management and board discussions are built around
• Period-over-period % change: show month-over-month, quarter-over-quarter, or year-over-year change right in the report, so trends jump out immediately
• A timeline date-range selector: pick the period you want to analyze quickly and visually
• Custom aging buckets: set the aging intervals that match how you actually follow up on receivables and payables



Think about the last time you prepared a quarterly review. With these changes, the comparison columns, the growth percentages, and the right level of detail are all already there. What used to be an afternoon of formatting becomes a few clicks, and the export is ready to share as-is.

4. Drilldown on the Sales by Item Report

Speaking of reports, one of them just became a lot more useful for anyone who sells products. The Sales by Item report now supports drilldown, one of the most requested improvements from our customers.

Spot an item that sold more than expected, or a figure that doesn't look right? Click on it, and Wafeq takes you straight to the transactions behind that number.

Where this helps most:

• Investigating spikes and dips: see exactly which invoices drove a strong month for a product
• Checking accuracy: trace a figure back to its source documents before you share it with anyone
• Answering questions on the spot: when a manager asks "where does this number come from?", the answer is one click away

It's a small change with a big effect on confidence. Instead of treating a report as a final answer, you can now use it as a starting point for understanding your sales.



5. Accurate Inventory Costs, Even When You Sell Before Stock Arrives

Accurate reports depend on accurate costs, and this next update fixes a situation that's more common than it sounds. In a busy business, a sale is sometimes recorded before the purchase bill for that stock has been entered. Until now, that could leave the sale with a cost of zero, which quietly inflated gross margin for the month.

Wafeq now costs these sales correctly.

How it works:

• Real costs, not zero: units you have on hand are costed at their running average, and any shortfall is priced using the bills that actually cover it, oldest first, at each bill's real unit cost
• Automatic corrections: when you record, edit, back-date, or void a bill, Wafeq re-costs the earlier sales that depend on it
• COGS in the right month: corrections land on the original invoice date, so cost of goods sold stays in the month of the sale
• A sensible estimate in the meantime: until the covering bill exists, the sale carries an estimate based on the last known average or the item's purchase cost
• Cleaner handling of returns: credit-note returns made while stock is short now simply cancel the shortfall

For trading businesses, retailers, and anyone who manages stock, this means gross margin you can trust. Your P&L reflects what each sale truly cost, not the order in which your team happened to enter documents.

Wafeq Academy has a dedicated guide with worked examples for this update: How Wafeq handles negative inventory

6. Contact Custom Fields in the Advanced Template Designer

Moving from your books to the documents you send, this update removes one of the most repetitive steps in invoicing.

Some details belong to the customer, not the invoice. A GCC registration number, for example, is the same on every document you send that customer. Until now, the Advanced Template Designer supported document-level and line-item custom fields, which meant details like these had to be entered again on each new invoice.

Now you can link contact-level custom fields to your templates. Enter the detail once on the contact, and it appears automatically on every invoice you issue to them.



What this means for you:

• Enter it once: customer-specific details live on the contact, where they belong
• Consistent documents: the right information appears on every invoice, every time
• Fewer errors: no retyping means no typos in registration numbers or references your customers rely on

Together with document-level fields (like a contract reference) and line-item fields (like a serial number), you now have full control over what appears on your invoices, at every level.

7. FX Rate and Base-Currency Totals on Your PDF Documents

For businesses that bill in more than one currency, the documents themselves just got more complete. Invoices, quotes, and credit notes issued in a foreign currency now show the exchange rate used and the total in your organization's base currency, directly on the PDF.

Why teams billing in multiple currencies will notice this:

• Compliance-ready for the UAE: showing the base-currency amount on foreign-currency documents is an important requirement for UAE businesses, and it now happens automatically
• Clarity for everyone: your customer, your auditor, and your own team can all see the conversion without asking for it
• No manual workarounds: no more adding notes or editing templates to display the rate by hand

Whether you're a UAE business invoicing in USD or a Saudi company quoting in EUR, your documents now tell the whole story in both currencies.



8. Bulk E-Invoicing: One Export and a Complete Picture

For businesses in Saudi Arabia reporting at volume, the bulk e-invoicing app received two upgrades that make oversight and auditing much simpler.

• One unified export. A new Data Export page lets you export every document type in a single file. No more pulling invoices, credit notes, and debit notes separately and stitching them together afterwards.
• Every document, whatever its source. Previously, the bulk e-invoicing pages only showed documents reported through the ZATCA API. Now they also include documents reported through the Wafeq accounting app, giving you one complete view of everything you've e-invoiced.

What you get:

• A Source column: see whether each document was reported through the API or the accounting app, and filter by it
• Source in your exports: the same information is included in every export for easy reconciliation
• Accurate dashboard totals: the dashboard now reflects everything you've e-invoiced, from both sources
• Audit-friendly figures: export amounts as ZATCA VAT figures to see the VAT amounts in SAR that the Zakat, Tax and Customs Authority considers

When it's time to compare what's in your books with what's in your VAT return, you now have everything in one place, in one file, clearly labeled.



9. A Cleaner, More Focused Bank Accounts Page

Back in banking, the page you open every day to check balances and start reconciliation has been redesigned for businesses that work with several banks.



What's improved:

• Pin your key accounts: keep the accounts you check most at the top, so they're always one glance away
• A more compact layout: more bank accounts now fit on a single screen, with less scrolling to find the one you need

If your organization runs operating accounts, payroll accounts, and petty cash across multiple banks, you'll feel the difference immediately. Paired with Suggested Reconciliation, getting from "open Wafeq" to "reconciled" is now faster than ever.

10. The Wafeq Developer Portal: Build Your Own Integrations

The best finance teams run on tools that talk to each other. Now anyone who wants to connect their software to Wafeq can do it on their own, through the new Wafeq Developer Portal. There's no need to request API access or wait on a support ticket, and you don't even need a Wafeq subscription to get started.

Sign up for a developer account and you can:

• Create an app in minutes: choose the permissions it needs and get your client credentials right away
• Test safely: spin up a demo organization to build against, without touching real business data
• Build as a team: invite teammates to work on your app together
• See your adoption: track which organizations have connected to your app
• Keep the docs close: the full API documentation lives on the same site

Whether you're a software partner building for businesses in Saudi Arabia and the UAE, or an in-house team connecting Wafeq to the other systems you run on, the path from idea to working integration is now yours to control.



11. A Faster Start for New Users, and the Mobile App Up Front

Finally, a word for everyone just joining Wafeq, and for the accountants and business owners who invite them. We've rebuilt the sign-up experience so new organizations can get up and running with less friction.

What's new for new users:

• A smoother setup flow: a guided questionnaire that you can move through quickly, even using just your keyboard
• Smart industry matching: when choosing an industry for your chart of accounts, Wafeq recognizes common terms in both Arabic and English and suggests the right match
• Local by default: your phone country code is set automatically based on where you are
• Secure from day one: organizations in Saudi Arabia and the UAE verify with a one-time password during sign-up
• The Wafeq mobile app, front and center: new users now discover the app right away, so they can manage their business on the go from the start

A good first impression matters. The faster someone sets up their organization, the sooner they're sending their first invoice, and the more likely they are to stick with it.



The Bigger Picture

Taken together, this month's updates follow one simple idea: the system should handle repetitive parts of accounting, so your team can focus on judgment and decisions.

• Less manual work: Suggested Reconciliation, the AI-powered Inbox, and custom contact fields take over tasks you used to do by hand
• Numbers you can trust: accurate inventory costing and base-currency totals keep your books and documents correct
• Faster answers: quarterly reports, % change, drill-down, and unified e-invoicing exports put insight a click away