Products like Ecom Books are among the most popular business accounting option - and payment methods and processors.
Your reseller clients, however, are looking for solutions that will sync and reconcile sales data with transaction data in these or similar programs. Contrary to popular belief, providing for real-time online payment reconciliation does not have to be costly, time-consuming, or difficult to maintain.
Why Customers Need Reconciliation
Reconciliation is the process of ensuring that the balance in Accounting systems is the same as the balance in the Statement from payment methods and accounts of the merchant - as well as all available transaction data that may be required (e.g. tax).
Reconciliation helps your clients' accounting teams ensure that all amounts from the statement are delivered in their ledger and that they can provide a clear explanation of any non-compliant items.
Read More: How to E-commerce Payment Reconciliation in a Click
Solution: Real-Time Payment Reconciliation
Cloud Elements enables real-time reconciliation of paid transactions in Ecombooks or other ERP business solutions- which can include activity ID and transaction details entered at the gateway. Client customers can then select the data they need and the required format to be well integrated with the optional program they are making.
Then, as usual, when all payments and refunds are reconciled between the Gateway Statement and the Gateway Bank account, the amount awaited to be transferred to the Gateway Statement will be transferred from the Gateway Bank Account to your bank account.
Benefits For You and Your Customers
Integration becomes an important factor for retailers when checking and selecting and paying for the gateway. Businesses are looking for ways to streamline even more minimalist processes.
As a payment gateway provider, out-of-the-box integration skills can help you develop or maintain brands, build stronger relationships with vendors, and reduce risk.
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