Reconciliation is often more complex when customers pay by credit card using a different redeemer than their own bank, for example, American Express or Diners Club.


Issues related to reconciliation of credit card transactions:

  • Information on which orders payment has been received for
  • Check which individual purchases have not come into the bank
  • Control of IP, OP and differences for each month
  • Control claims against the redeemer – which card transactions have not come into the bank per cost center, external redeemers and retail payments
  • Completed reports for the monthly account
  • A report on open records
  • Reconciliation at detailed level without recording all credit card transactions
  • Card fee per cost center directly from the system
  • A reconciliation process independent of individuals

The bank makes a joint deposit for all registered purchases in one lump, including fees charged. The sum can consist of the final figures from a number of different stores. It is therefore impossible to see what you have been paid for from the bank statement. In order to perform reconciliation, we need information from the redeemer. All redeemers can now deliver information electronically, using which Adra ACCOUNTS can easily recognize:

  • Which day’s trading money has been received for
  • What fees have been deducted by the redeemer
  • Completed reports for the monthly account
  • Control of IP, OP and differences for each month
  • How much the redeemer has outstanding
  • Report on all open items

It is not unusual that the transactions end up in the settlement account in the accounts, which are manually debited each day based on information from the redeemer, such as BGC. If transactions are not automatically entered in the accounts, reconciliation can consist of bookkeeping all data from the redeemer. The proportion of sales made through credit cards is rarely large, but the manual bookkeeping work is very demanding.


Card redeemers/web shops

Card transactions made online differ from in-store by each online transaction having to be reconciled at retail level. This is because the registered sales rarely balance against bank deposits. Sales come into the bank as a lump sum that includes all card purchases made online during a specific day. This lump sum must be matched against all registered purchases made that day. The information on which transactions the lump sum consists of is only available from the redeemer. Without it, accurate reconciliation becomes impossible.  It is also impossible to be completely sure whether differences arise due to delayed bank deposit or otherwise. The manual process of tallying of accounts can be endless!

Adra ACCOUNTS gives you:

  • Reconciliation at retail level without credit card transactions has to be entered in a journal
  • Card fee per cost center directly from the system
  • Control of which card transactions have not entered the bank per cost center
  • A reconciliation process independent of individuals
  • Completed reports for the monthly account
  • Control of IP, OP and differences for each month

Credit card transactions show on the account statement as a common deposit for all registered purchases with fees deducted. You cannot see what you are being paid for from the bank account statement. That’s why payments from external redeemers almost always end up in the settlement account for accounting purposes. The settlement account is debited manually daily, based on information from the bank. The proportion of payments via credit card is usually not as large, but the manual bookkeeping work is more demanding.