There are payments method preferred such as UPI, debit cards,credit cards by people over carrying cash. Considering card payments restaurants etc partner with a company that provides an EDC machine. This way customers can just tap the card enter pin and make payment. For a restaurant, however, checking each transaction processed might be difficult as a large number of transactions take place every day. In case a transaction fails or a wrong amount is collected and it goes undetected it might lead to a loss over time.
To resolve this problem, you can use our automated reconciliation software to check each card payment processed. You can load data automatically to the software via integrations in various file formats. The software then cleans the data off its duplicates and inconsistencies and then configures logic to produce a result.From which a summarised monthly view of all transactions is displayed along with a Store wise view of total transactions. You easily track the store-wise payments and get overview verification of the total payments.
Required Reports
Client Sales Report
This report contains the details of all orders placed and sales made in a particular store
Partner Card Report
The credit card payments processed by the card partner are mentioned in this report
Bank Statement
This report is used to verify if the payments actually reach the bank account.
Card MIS Reconciliation Result
Store-Wise
The software reconciles the card report with the MIS report so as to show a summary view of the transactions. You can see all the card payments processed store-wise for a particular month in one place which facilitates easy analysis for your finance team.
Store ID
This is the unique store identifier number which helps you differentiate between stores and get a store-wise result.
Month
This shows you the month in which these transactions were processed in the store.
Transaction Date
Shown here are the dates of transactions that place through card payments.
Credit Card Sales
This shows you the total payments received through the credit card in a particular store.
CC Sales (HDFC)
These are the payments made through the HDFC card as per the HDFC report
CC Sales (AMEX)
Shown here are the payments made through the AMEX card as per the AMEX report
Sales Variance
Credit Card Sales- CC Sales (HDFC) – CC Sales (AMEX) is the sales variance
Deductions
These are the deductions as recorded in the HDFC report. This includes all the fees charged and other expenses.
Calculated Net Received
Credit Card Sales – Deductions is the total amount that is supposed to paid to you.
Settlement (HDFC)
All the settlements made by HDFC to your bank account.
Individual Stores
