Pin Payments is a flexible payment method in Australia that makes the entire transaction process for small businesses reliable, efficient and quicker. It helps everyone to make payments with ease with its affordable platform.
Millions of transactions are conducted by Pin Payments every day, making reconciliation of these transactions time-consuming and a little difficult. However, it is crucial to speed up the verification of these transactions to avoid financial inconsistencies.
For your business, Cointab Reconciliation provides a solution that streamlines this procedure and increases the effectiveness of your finance staff. Our program can be tailored to your specific needs, automating data entry and comparing bank statements, ERP reports, website reports, and invoices from Pin Payments. This detailed analysis identifies any errors and overcharges and ensures the correctness of your financial records, helping you stop further losses.
Pin Payments Payment gateway reconciliation results:
Pin Payments settlement reports:
Order placed and for which the payment has been done come under the settlement report.
Pin Payments refund reports:
The orders that have been canceled or refunded come under the refund reports.
Website report:
The orders placed through the website come under the website report.
ERP Report:
The internal report, a company has to keep regarding the orders come under the ERP report.
Bank statement:
All the transactions that are done by Pin Payments are shown in the bank statement.
Pin Payments with website reconciliation
Found and reconciled with the website report:
The transactions that are present in the settlement report are also found and reconciled in the website report.
More amount recorded in the website report:
In comparison to the settlement report, the amount present in the website report is more.
Less amount recorded in website report:
In this case, the amount recorded in the website report is less than the amount presented in the settlement report.
Not found in the website report
Here, the transactions present in the settlement report are not found in the website report.
The website with Pin Payments reconciliation:
Found and reconciled with Pin Payments settlement report
The transactions are found and reconciled with the Pin Payment settlement report.
Less amount received in Pin Payments settlement report
In this case, the transactions present in the settlement report is less than the amount present in the website report.
More amount received in Pin Payments settlement report
Here, the amount present in the settlement report is more than the amount found in the website report.
Cancelled transactions
These transactions were canceled from the customers end and hence it is not shown in the Pin Payments report and only in the website report.
Pin Payments reconciliation with ERP
Found and reconciled with ERP report
Here, the transactions that are recorded in the settlement report are also found and reconciled with the ERP reports.
More amount recorded in the ERP report
The amount that is recorded in the ERP reports is more than the settlement report.
Less amount recorded in the ERP report
In this case, the amount recorded in the ERP report is less than the amount present in the settlement report.
Not found in ERP report
Here, the transactions are recorded only in the settlement report but not in the ERP report.
ERP report with Pin Payments reconciliation
Found and reconciled with Pin Payments settlement report
The transactions are found and reconciled in the Pin Payment settlement report as well as the ERP report.
Less amount received from Pin Payments settlement report
In this case, the amount present in the settlement report is less than the amount present in the ERP report.
More amount received from Pin Payments settlement report
Here, the amount present in the settlement report is more compared to the amount present in the ERP report.
Not Found in Pin Payments settlement report
The transactions are present only in the ERP reports and not found in the settlement report.
Canceled Transactions
Here, the transactions are present only in the ERP reports and not found in the settlement report as it got canceled from the customer’s end.
Pin Payments with Bank reconciliation
Settled in bank account
Transactions are present in the bank account as well as the settlement report.
Not settled in bank account
These transactions are present in the settlement report and not present in the bank account.
Bank reconciliation with Pin Payments
Found and reconciled Pin Payments transactions
In this case, the transactions are found and reconciled in the settlement report as well as the bank statement.
More amount recorded in Pin Payments
Here, the amount recorded in the settlement report is more than the amount present in the bank statement.
Less Amount recorded in Pin Payments
The amount present in the settlement report is less than the amount present in the bank statement.
Not Found in Pin Payments
This denotes that the transactions present in the bank reports are not recorded in the settlement report.
Make Cointab Reconciliation your go-to option to make the reconciliation process simpler. It effectively compares the above-mentioned reports, removing any potential difficulties. Because of its automation, outcomes are guaranteed to be error-free and manual work is reduced.A comprehensive overview of all transactions is provided via efficient data loading and processing. Take advantage of Cointab Reconciliation to improve accuracy, simplify the data collection process, and make the charges verification process more efficient. Start your journey to financial efficiency right away with Cointab Reconciliation.
