ReconHub is a user-friendly software application for automatic reconciliation of all payment flows, simplifying accounting processes.

Organizational structure

To easily manage the reconciliation of your payments, you can configure your organizational structure in ReconHub.
ReconHub supports mandators and tenants, under which you can configure your branches, locations, terminals, and accounts. Setting up your structure will later make it possible to for example see transactions for a certain location or terminal.
Here you can find more information about organizational structures in ReconHub.

ReconHub provides a flexible search filter so you can quickly find terminals, branches or other items within the organizational structure (s. Search in organization structure).
In addition, ReconHub detects changes in your organization structure during transaction processing and lists terminals with prepared location assignment for efficient creation.

Data Sources

Collectors and Imports

ReconHub uses collectors to gather your payment data from different data sources. You can track these collection runs in the ReconHub UI.
Once data has been collected, it is imported. You can track the import for each source (state, import file, import summary, import errors, organizational structure).

Many collectors and interfaces are integrated natively, such as Worldline, Wallee, Mollie, Amazon, Worldpay, PostFinance, Twint, Axcess, EBICS, RAF, Uber, Mollie, Stripe and many more.
ReconHub also supports generic ways to collect data, such as HTTP, FTP, DB or Email.
In addition, ReconHub also supports generic formats such as CSV, XML, JSON, Excel, and fixed length.
Additional payment information like DCC (Dynamic Currency Conversion) can be processed by ReconHub.

Collector and Import settings can be created in the administration section of ReconHub. This is also where these activities can be started manually.

ECR transactions

ECR transactions are transactions originated from your sales systems, such as your cash register or web shop.
ReconHub shows all your ECR transactions. For each transaction you can see its matching state, processing state and many more details. You can also browse your organizational structure and find the ECR Transactions related to each level of your organization.

EFT transactions

EFT transactions are transactions that were processed by your payment providers.
ReconHub shows all your EFT transactions. For each transaction you can see its matching state, processing state and many more details. You can also browse your organizational structure and find the EFT Transactions related to each level of your organization.

Bank payments

Bank payments are the payments you receive on your bank accounts.
ReconHub shows all your bank payments. For each bank payment you can see its matching state, processing state and many more details. You can also browse your organizational structure and find the bank payments related to each account within your organization.

Reconciliation

Reconciliation Engine

The core of ReconHub is a powerful reconciliation engine to match sale transactions (ECR, e-commerce etc.), EFT transactions (settlements) and bank payments.

There are a multitude of reconciliation functions, among others:

• Transaction matching (ECR - EFT)
• Transaction matching rules with extensive wizard for rule creation
• Supports priority, matching tolerance, matching fields, generic filters and more
• Settlement matching (EFT - bank)
• Settlement matching rules with extensive wizard for rule creation
• Supports priority, tagging, day range, matching fields, generic filters and more
• Skip transactions (ECR, EFT, bank) from matching
• Manual matching
• Reset matching
• Manual adjustments
• Create missing transactions
• Set the expected match date for a transaction

You can find more details about the reconciliation process here.

Reconciliation Intelligence

ReconHub provides intelligent help in the reconciliation process. Here is a selection of features:

• Matching state overview, so you always know the current state of your reconciliation.
• Detailed matching state per day and per payment provider, payment brand and organizational unit.
• Easy drill down, so you can immediately find which transactions are not matching.
• Reasons why a transaction has not yet matched, to help you understand the process for each transaction.
• Suggestions on how to correct an unmatched transaction, to help you manage exceptions.
• ReconHub suggests whether a transaction can still be matched in the future or not, to help you focus on the unmatched transactions that need your attention.

Reconciliation Chain

ReconHub links all related transactions into a chain, so you can later know exactly which ECR Transaction was paid out with which bank payment.

Accounting

ReconHub is built as EFT/POS sub ledger and provides a range of features to integrate easily with your accounting system.

Posting Rules

Posting rules govern how your transactions are transformed into postings, which are later exported to your accounting system.
For example, you can create a posting rule which groups all matched transactions per day, organizational unit, and brand.
This rule will then run every day and produce the corresponding postings.

The creation of posting rules is supported by a simple wizard, and you can even create posting rule templates for future use.

Some of the main features of posting rules are:

• Chose source (bank, ECR, EFT, etc.), start and end date, matching state and many more
• Swap negative sign
• Post single transactions or aggregations, such as per currency, per account, per date, per organizational unit and more
• Flexible target account, posting text and data selection, including variables
• Generic filter for many fields

Postings

After the posting rules have been applied to your data, ReconHub lists all postings as they will occur in your accounting system.

Open items

Electronic payments for which you have not yet received payment from your payment provider are outstanding debts in your books.
In the most common configuration, ReconHub will only export transactions to your accounting system once they have been paid and fully matched.
In this case, you can use the open item list in ReconHub to account for all outstanding debts by your payment providers. This is for example helpful for monthly closure.
With the open items report, ReconHub provides a detailed report for your records.

Exports

ReconHub natively supports multiple accounting systems, such as Sage, Abacus, SAP, DATEV and others, or generic formats such as CSV.

Export Rules

Posting can exported to your accounting system from time to time. This process is governed by Export Rules.

Export rules allow creating different exports with different settings, such as:

• Export format
• Start and end date
• Number of postings per run
• Splitting criteria to create different journals, for example per currency or period
• Frequency of runs and target folders
• and more

You can also create Export Rule Templates for later use.

Export Runs and Uploads

ReconHub provides a list of all exports that were executed.

Analytics

1. Turnover and Fees
   
2. Matching Statistics
   

The charts & reports provided by ReconHub are available in three dimensions:

1. By period
   
2. By card brand
   
3. By organizational unit
   

Filters, lists and details

Most lists and detail views in ReconHub have the following features:

• Filtering of list items
• Export of lists as PDF, CSV, Excel, XML
• Export of details view as PDF
• Customizable table columns
• Print view of lists

Personalization

Each user can choose from the following personalization options:

• Language and Region
• Time zone
• Base currency
• and more

System features

Scheduler

ReconHub has a scheduling engine that runs all the system activities such as data collection and import.

Monitoring

ReconHub provides monitoring for many different processes:

• Collectors executions overview
• Imported files
• Matching
• Scheduler
• Activity log
  
• Upload

Alerting

ReconHub supports manual or periodic email alerts containing certain events, such as failed imports, unmatched transactions, failed scheduler jobs.

Usage log

• For each terminal, see the number of transactions in total and for the last 7 days
• See the usage of your matching rules

User management

In ReconHub, users can be assigned to roles and groups.

Roles govern what features a user can use on ReconHub. ReconHub provides many pre-defined roles so access can be granted granularly to the different users.
Each user is assigned to units in your organizational structure. Users can only see data of the corresponding organizational units. This governs what data a user can see on ReconHub.

In addition, users can be grouped in groups, which can then in turn be assigned to organizational units.

Two Factor Authentication

Besides username and password, ReconHub also supports 2FA.

Tenant administration

The tenant configuration allows configuring tenant specific settings such as time frames for matching, mandatory user settings (i.e. 2FA), used currencies and more.