End-to-end reconciliation involves a financial process that compares multiple sets of transaction data to ensure they match, while managing the results in a formalised, automated fashion. This automated process ensures that financial records retain their integrity, while ensuring that all transactions are full accounted for.
Through the implementation of end-to-end reconciliation, merchants receive a comprehensive, intelligent reconciliation solution that analyses and compares multiple transaction source and destination records from the point of origin to the destination. This provides an orchestrated and intelligible view of information that identifies financial obligations, discrepancies and inconsistencies easily and in a consistent manner.
Transaction outputs include GL postings, reports, custom file generations and intrinsic information that is geared to ensuring the ultimate levels of accountability throughout the lifecycle of a transaction, or multiple transactions. Transaction Junction furthermore provides the ability to incorporate digital goods matching, VAS, loyalty and other transaction-oriented data to provide a business-orchestrated view that ensures owners, groups and stakeholders are never in the dark. End-to-end reconciliation ensures accuracy and conformance with financial accounting rules, regulations and removes the onerous workload of manual reconciliation which is susceptible to human error as well as loss of transaction records.
A key aspect is that the solution is integrated throughout, meaning that a close interlinking between the shifts recorded and the posting of transactions promotes a consistent view at all stages during a business day or shift.