Running a business smoothly requires accurate financial tracking. Reconciling transactions processed through your payment gateway, like Global Payments, is crucial for achieving this. But manual reconciliation is time-consuming and prone to errors. This is where Cointab Reconciliation Software comes in.
What is Global Payments?
Global Payments is a leading American fintech company offering comprehensive payment solutions for businesses of all sizes. They provide integrated payments, e-commerce support, and omnichannel options, enabling secure transactions through digital and contactless methods.
Why Automate Payment Gateway Reconciliation?
Cointab Reconciliation Software simplifies the process of reconciling your Global Payments transactions with your internal financial data. While manual reconciliation remains an option, automation becomes essential for handling large volumes of data efficiently.
Benefits of Cointab Software:
Save Valuable Time:
Free up your finance team for more strategic tasks by automating tedious manual reconciliation processes.
Enhanced Accuracy:
Eliminate human error and ensure complete financial data integrity.
Effortless Reconciliation:
Cointab seamlessly integrates with Global Payments and your ERP system, streamlining reconciliation workflows.
Understanding Global Payments Reports:
Cointab simplifies reconciliation by providing clear insights into various Global Payments reports:
Settlement Reports:
Track successful customer payments across different channels.
Refund Reports:
Easily identify and manage refunds processed by the payment gateway.
Website Reports:
Reconcile website orders with corresponding payment gateway data.
ERP Integration:
Cointab integrates seamlessly with your existing ERP system, ensuring your itemized financial data aligns perfectly with your Global Payments transactions.
Bank Statement Reconciliation:
Cointab ensures your bank statements reflect the actual transactions received from the payment gateway.
Global Payments with Website Reconciliation:
Matched Transactions:
Cointab confirms successful reconciliation between your website report and the Global Payments report for a seamless transaction flow.
Lower Website Amounts:
We pinpoint discrepancies where the website report reflects a lower amount compared to the Global Payments report. This could indicate missing website orders or partial refunds not reflected on the website.
Higher Website Amounts:
Our software flags situations where the website report shows a higher amount than the Global Payments report. This might signify website order duplication or incorrect pricing.
Missing Website Records:
Cointab highlights transactions present in the Global Payments report but absent from your website report. These could be manual orders or external sales channels integrated with Global Payments.
Benefits of Cointab Software:
Early Detection:
Identify website order discrepancies quickly to prevent financial losses and ensure accurate record-keeping.
Improved Efficiency:
Automate website order reconciliation, freeing your finance team to focus on more strategic tasks.
Enhanced Data Integrity:
Gain complete confidence in your financial data with accurate reconciliation.
Website Reconciliation with Global Payments:
Matched Transactions:
Cointab confirms successful reconciliation between your website report and the Global Payments settlement report, streamlining your financial workflow.
Lower Settlement Report Amounts:
We pinpoint discrepancies where the settlement report reflects a lower amount than the website report. This could indicate:
Missing Website Orders:
Identify uncaptured website sales not reflected in the settlement report.
Refunds Not Applied:
Detect discrepancies if refunds processed on your website haven’t been reflected in the settlement report.
Higher Settlement Report Amounts:
Our software flags situations where the settlement report shows a higher amount than the website report. This might signify:
Chargebacks:
Identify potential chargebacks initiated by customers that haven’t been reflected on the website.
Pricing Errors:
Uncover website pricing errors causing discrepancies with the settlement report.
Missing Settlement Records:
Cointab highlights transactions present in your website report but absent from the settlement report. These could be:
Pending Orders:
Identify website orders yet to be settled by Global Payments.
Payment Gateway Errors:
Detect potential errors within the payment gateway causing missing settlement records.
Cancelled Transactions:
Cointab clearly distinguishes cancelled orders. These appear on the website report but are rightfully excluded from the Global Payments settlement report.
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Global Payments with ERP Reconciliation:
Matched Transactions:
Cointab confirms successful reconciliation between your Global Payments report and your ERP system, streamlining your financial workflow.
Lower ERP Amounts:
We pinpoint discrepancies where the ERP report reflects a lower amount than the Global Payments report.
This could indicate:
Missing Sales Entries:
Identify uncaptured sales transactions not recorded within your ERP system.
Pricing Errors:
Detect discrepancies if incorrect pricing data is used in your ERP system.
Higher ERP Amounts:
Our software flags situations where the ERP report shows a higher amount than the Global Payments report.
This might signify:
Duplicate Entries:
Identify potential duplicate sales entries within your ERP system.
Inventory Discrepancies:
Uncover discrepancies between recorded sales in the ERP and actual payments received.
Missing ERP Records:
Cointab highlights transactions present in your Global Payments report but absent from your ERP system.
These could be:
Manual Transactions:
Identify manually entered sales transactions not integrated with the payment gateway.
ERP System Errors:
Detect potential errors within your ERP system causing missing transaction data.
ERP Reports with Global Payments reconciliation:
Matched Transactions:
Cointab confirms successful reconciliation between your ERP data and Global Payments reports, ensuring a smooth financial workflow.
Lower Settlement Amounts: We pinpoint discrepancies where the settlement report shows a lower amount than your ERP.
This could indicate:
Missing Sales Entries:
Identify uncaptured sales transactions not recorded within your ERP.
Pricing Errors:
Detect discrepancies if incorrect pricing data is used in your ERP system.
Higher Settlement Amounts:
Our software flags situations where the settlement report shows a higher amount than the ERP.
This might signify:
Chargebacks:
Identify potential chargebacks initiated by customers that haven’t been reflected on the ERP.
Payment Gateway Errors:
Detect potential errors within the payment gateway causing inflated settlement amounts.
Missing Settlement Records:
Cointab highlights transactions present in your ERP but absent from the settlement report. These could be:
Manual Transactions:
Identify manually entered sales transactions not integrated with the payment gateway.
ERP System Errors:
Detect potential errors within your ERP system causing missing transaction data.
Cancelled Transactions:
Cointab clearly distinguishes cancelled orders. These appear on the ERP report but are rightfully excluded from the Global Payments settlement report.
Global Payments with Bank reconciliation:
Understanding where to find transaction details is crucial for accurate financial record-keeping. This guide clarifies which transactions appear on both bank statements and Global Payments settlement reports, and which are exclusive to the latter.
Found in Bank Statements and Global Payments Reports:
Easily locate common transactions like deposits, withdrawals, and debit card purchases on both your bank statement and Global Payments reports.
Not Found in Bank Statements, But Found in Global Payments Reports:
Specific details related to Global Payments processing, such as fees or network charges, might only be reflected in their settlement reports.
Bank Reconciliation with Global Payments:
Reconciling your transactions with Global Payments settlement reports can be a breeze. This guide tackles common discrepancies you might encounter and offers a solution for a smoother process.
Found & Reconciled:
Great news! Your transactions match perfectly on both your bank statement and Global Payments reports.
Discrepancies:
Higher Amount in Global Payments Report:
This could be due to processing fees or network charges reflected in Global Payments reports but not on your bank statement.
Lower Amount in Global Payments Report:
Potential reasons include refunds processed by Global Payments or adjustments not yet reflected on your bank statement.
Missing Transactions in Global Payments Report:
Transactions might be pending with Global Payments or categorized differently, causing a temporary mismatch.
Introducing Cointab Reconciliation Software:
For effortless reconciliation, consider Cointab, a user-friendly software.
Benefits of Cointab:
Flexible Data Upload:
Import data in your preferred format, adapting to your specific business needs.
Comprehensive Results:
Gain a clear overview of your reconciled transactions after the process.
Discrepancy Highlighting: Red flags instantly identify any discrepancies, saving you time and effort.
Simplify Reconciliation with Cointab:
Stop wasting time on manual reconciliation. Get started with Cointab today and experience a streamlined process! By automating reconciliation with Cointab, you’ll gain valuable time and peace of mind, allowing you to focus on growing your business.