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Credit Card Reconciliation

Core Capabilities of ReconArt Software

  • Multi-stepped matching to suit any process (card statement, payment gateway, bank, GL, POS)

  • Full support for all typical file formats

  • Automation of data import and matching

  • Robust exception management and reporting

  • All types of matching relationships supported

Credit Card Reconciliation

Key Benefits of ReconArt Software

  • Considerable reduction in the manual effort required for reconciliation

  • Easy to identify fraudulent items and mispostings

  • Financial risk reduction

  • Enhanced control and improved operational efficiency

  • Minimal IT resources needed as the users are self-sufficient

  • Scalability and flexibility

Credit Card Reconciliation

How ReconArt streamlines the reconciliation process?

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.

ReconArt™’s powerful matching engine allows for extremely fast and scalable transaction processing, letting reconciliation staff resolve exceptions immediately after new transactional data is available.  When exceptions such as mispostings, unrecorded fees and suspicious transactions are identified, ReconArt™ can automatically categorize them, triggering the appropriate investigation and resolution. Journals and adjustments can automatically be posted back to the relevant ERP/general ledger systems. From dashboards to data exports and ready-to-use reports, all relevant information is at your fingertips.

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ReconArt Customer Success Stories

ReconArt is proud to receive the trust of our customers and we are dedicated to our mutual success. Here are some of the customers who leverage our reconciliation software to automate their reconciliation and close processes.

Progressive Credit Kenya: automation of daily bank reconciliations in the microfinance business
Progressive Credit Kenya: automation of daily bank reconciliations in the microfinance business

Progressive Credit is a microfinance organization founded in 2011. The company operates in 27 branches across Kenya with the mission to design innovative credit product tailored for consumers & SME.

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1-800-PACK-RAT: bank reconciliation with ReconArt
1-800-PACK-RAT: bank reconciliation with ReconArt

1-800-PACK-RAT is an industry leader in portable storage and moving, who provides US customers and businesses with solutions for on-site storage, warehouse storage, local or long-distance moving.

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RedCloud, HQ in the UK, has developed a digital ecosystem for order & inventory management, cashless payments, customer engagement. The platform is leveraged by small & local FMCG businesses globally.

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