Credit Card Reconciliation

With ReconNET you can easily and automatically reconcile credit and debit card transactions, identify shortfalls, and call issues to the attention of the appropriate manager, bank, or processor for quick resolution. Reconciliations can be processed at the Merchant ID (summary) or card swipe (detail) level. ReconNET also dramatically increases the security of credit card and/or personal data (e.g., Social Security number) through encryption, and provides the ability for businesses using the reconciliation software to pass a stringent PCI audit.

» Learn more about how to reduce security risk and comply with the PCI standard

Types of Credit Card Reconciliation

ReconNET’s speed and powerful matching algorithms expedite, simplify, and improve the accuracy of the reconciliation process for the following types of reconciliations:

Payment System to Processor: Reconciles payment system transactions recorded on the authorization terminal to transactions recorded by the processor.
Processor to Bank: Reconciles transactions recorded by the processor to funds reported to the bank.
Payment System to Bank: Reconciles payment system transactions to funds reported to the bank.

ReconNET Easily Tracks Fees and Chargebacks at a Location Level

With ReconNET, you can easily track all fees and chargebacks at the location level and post the appropriate entries automatically to the General Ledger – increasing accuracy and eliminating the possibility of error by tying fees directly to the location of origin. You can also use ReconNET for credit cards to relieve the A/R account at the location level based on the processor file(s).

ReconNET Helps You Identify Trends

ReconNET gives you powerful analysis, tracking, and reporting tools that will help you identify trends at the location, bank, or processor level, allowing you to optimize these relationships accordingly to reduce costs.

Reconcile Credit Cards Using Today’s Most Effective Reconciliation System

Track various items deducted from accounts such as deposit corrections, rejects, fees, and chargebacks
Track weekly or monthly processor fees and discounts for item processing
View current credit activity
Query historical data for reporting and research
Track all activity from payment system through the settlement process

ReconNET Makes Processing Large Credit Card Volumes Quick and Easy!

» learn more about Sarbanes-Oxley Compliance and Anticipatory ACH

Learn More About ReconNET:

» For an introductory demonstration of ReconNET, please register for one of our weekly webinars.

» FREE White Paper Download

Download Automating Transaction Reconciliation Processes and discover what to look for when evaluating an automated system for transaction verification, reconciliation and exception resolution.

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