Interface partners
These interface partners have already integrated a financial data interface to ReconHub.
Becoming an interface partner
A partnership with Abrantix will benefit you and your customers.
Together we develop and optimize financial data interfaces, always with the aim to create the best customer experience.
There are easy ways to integrate with ReconHub, simply reach out to take the first step, or read on to understand why payment reconciliation is so important for your customers.
Together we develop and optimize financial data interfaces, always with the aim to create the best customer experience.
There are easy ways to integrate with ReconHub, simply reach out to take the first step, or read on to understand why payment reconciliation is so important for your customers.
Why does your client perform reconciliation
You are the POS or online shop provider of our mutual customer.
Your customer has automated the reconciliation of their financial flows and therefore needs electronic data from your systems.
This article explains why your client requires sales transaction data for their reconciliation processes, explains the benefits for you and your customer and also points to technical guidelines for you in this process.
Your customer has automated the reconciliation of their financial flows and therefore needs electronic data from your systems.
This article explains why your client requires sales transaction data for their reconciliation processes, explains the benefits for you and your customer and also points to technical guidelines for you in this process.
What is reconciliation
Reconciliation in accounting is the process of comparing two sets of records to ensure that they are in agreement. This is done to ensure the accuracy of financial statements and to identify any discrepancies.
In the domain of ReconHub, reconciliation means to match sales transactions of a merchant against the settlements of their payment providers and against their bank account data. Any discrepancies point to an issue in the flow of moneys and must be investigated and resolved.
Definition Reconcilitation
In the domain of ReconHub, reconciliation means to match sales transactions of a merchant against the settlements of their payment providers and against their bank account data. Any discrepancies point to an issue in the flow of moneys and must be investigated and resolved.
Definition Reconcilitation
Why does your client want you to support reconciliation
Reconciliation helps your customers to ensure accuracy in their financial records, understand their cash position, and forecast their cash flow. For example, through reconciliation your clients can understand when they can expect the bank payment for all credit card sales transactions. Running this process regularly and continuously helps minimize audit adjustments at the end of the year, because most issues have already been found and corrected.
Getting this right involves sales transaction data from your system, which is then compared to other records, ensuring a match on a specific date. This is why regular, easy-to-reconcile sales data from your system is crucial for the success of your client.
Getting this right involves sales transaction data from your system, which is then compared to other records, ensuring a match on a specific date. This is why regular, easy-to-reconcile sales data from your system is crucial for the success of your client.
What is your benefit
The more comprehensible the payment flows are to your customers, the more trust they will have in your services and recommend them to others.
The reconciliation process is deeply embedded in the accounting process of your client. Embedding your solution in this process is an additional long term value for your customers.
The reconciliation process is deeply embedded in the accounting process of your client. Embedding your solution in this process is an additional long term value for your customers.
What is ReconHub
Managing and reconciling payment transactions across various sales channels is becoming increasingly complex, especially with the rise of cashless and digital payment methods. Your clients constantly need to adapt, add new payment methods and expand their business. This leads to time-consuming and error-prone manual reconciliation processes, which are often no longer feasible.
Abrantix offers ReconHub to simplify, streamline and automate these reconciliation processes. ReconHub transparently reconciles all transactions regardless of payment method, integrates with any accounting system or ERP, and is fully digital, automated, and secure.
Abrantix offers ReconHub to simplify, streamline and automate these reconciliation processes. ReconHub transparently reconciles all transactions regardless of payment method, integrates with any accounting system or ERP, and is fully digital, automated, and secure.
Your role in the reconciliation process
You can help your customer by regularly providing easy-to-reconcile sales data from your system. This will enable an automated reconciliation process for your client.
Our role
Abrantix provides ReconHub to our mutual client, so the reconciliation process can be automated. Abrantix, or an implementation partner, lead the client through the initial setup and configuration project.
As part of this project, we need to integrate the sales transaction data from your system into the reconciliation processes of the client. There are many different ways to do this, and we will work together on identifying the best solution for both of us. To provide the best experience for the client, we would like you to become our interface partner and provide the data for our mutual customer.
As part of this project, we need to integrate the sales transaction data from your system into the reconciliation processes of the client. There are many different ways to do this, and we will work together on identifying the best solution for both of us. To provide the best experience for the client, we would like you to become our interface partner and provide the data for our mutual customer.
Your role as a partner
As a ReconHub Interface partner you help your customers in getting reconciliation right, by providing them with their sales transaction data. Your customers can then automate the reconciliation process, increases transparency of all financial flows and reduce their effort.
As part of this, you can offer your customers a state-of-the-art digital service and extend your offering with our reconciliation solution ReconHub.
As part of this, you can offer your customers a state-of-the-art digital service and extend your offering with our reconciliation solution ReconHub.
Become an integration partner today
A partnership with Abrantix will benefit you and your customers. At the heart of it is the digitization of all financial flows of each customer. As our partner, we will support you in connecting data interfaces to the ReconHub ecosystem.
Several large retailers and food chains trust in ReconHub. By becoming Interface partner with Abrantix, you can make sure that all our mutual customers can benefit from this service.
Become a partner today.
Several large retailers and food chains trust in ReconHub. By becoming Interface partner with Abrantix, you can make sure that all our mutual customers can benefit from this service.
Become a partner today.
How are sales transactions used in this process?
ReconHub automatically matches sales transactions with the corresponding pay-out information from the payment processors. In a second step, it automatically matches the pay-out information with the bank account.
The ReconHub match process matches the
• sales transactions with the settlement-data (gross-gross matching)
• and the payout data with the bank statement (net-net matching)
The ReconHub match process matches the
• sales transactions with the settlement-data (gross-gross matching)
• and the payout data with the bank statement (net-net matching)
To be able to do this, ReconHub provides a simple API to which you can send the sales transactions (ReconHub Sales API). Alternatively, There is a file interface option available.
What sales transaction data is required?
Here you can find a list of data fields required by the ReconHub Sales API, to give you a better idea of what information we need.
As you can see in the API specification, we don’t need any line items. What we do need are information on the actual payment transaction, such as amount and payment method. What is required is a minimum set of fields to match the sales transactions against the payment transactions of the payment processor
As you can see in the API specification, we don’t need any line items. What we do need are information on the actual payment transaction, such as amount and payment method. What is required is a minimum set of fields to match the sales transactions against the payment transactions of the payment processor
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