Credit Card Reconciliation

ReconArt is a fit-for-purpose solution for credit card reconciliation. This type of payment reconciliation can represent a number of business processes from sales transactions, to vendor payments, or even employee expenses. Typically, it requires the regular matching of transactions on the organization’s credit card statements to the corresponding items on the internal ledgers. Other sources of data can also be involved, like POS or e-commerce applications, corporate expense systems, and bank statements. Once all credit card activity has been reconciled, any remaining unmatched items are left for further investigation.

With this process, many accounting teams struggle with acquiring full visibility over their credit card accounts due to increasing matching complexity, problems with data accessibility and data integrity, and an ever-growing rate of transaction volumes.  Charge-backs, reversals and fees can add an additional layer of complexity. An end-to-end reconciliation software such as ReconArt™ can reduce exposure to risk while eradicating inefficient, manually intensive processes and strenuous year-end activities. Business users have full control over the data involved and can participate first-hand in the way internal reports and credit card statements are introduced, enriched and matched via an easy-to-use interface and navigation layout. …