Free PSP transaction reconciliation Excel template
Download your free transaction reconciliation template to reconcile payment solution provider data with your internal records efficiently.
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Get access to your free reconciliation template
Fill out the form below to download your free transaction reconciliation template.
How to use this template?
This workbook has been created to assist you in effectively reconciling data from payment service providers (PSPs) with your back-office records.
The template is organized into multiple tabs, each one customized to address different stages of the reconciliation process.
On the first tab, you will find comprehensive instructions on how to utilize the template and maximize its features.
Wish to automate instead?
Book a demo and discover how Reiterate can streamline and automate your payment reconciliation.
Payment reconciliation – what it is and how to do it?
Payment reconciliation is a critical financial management practice that helps businesses maintain accurate financial records, ensure compliance with accounting standards, and manage cash flow effectively.
What is payment reconciliation?
Payment reconciliation is the process of comparing and verifying financial records to ensure that the payments received or made match the records provided by payment solution providers, recorded in accounting systems or bank statements.
This process is crucial for businesses with high transaction volumes to ensure that their financial transactions are accurate and no discrepancies between the expected and actual payments exist.
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Why is payment reconciliation important?
Payment reconciliation is essential for maintaining accurate financial records. It's integral in identifying and correcting any discrepancies, preventing errors, and detecting potential fraud.
Lack of solid reconciliation practices can put the business at risk of financial mismanagement, leading to problems with cash flow or legal issues.
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How to reconcile payments?
Depending on the size of your company and the volume of transactions, you might choose different methods for reconciliation. For smaller businesses with fewer transactions, manual reconciliation using tools like Excel or Google Sheets can be sufficient.
However, for larger companies or those with a high volume of transactions, a specialized tool like Reiterate can automate the process, reducing errors and saving time.
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