Glossary
Reconciliation
Reconciliation is the comparison of three records that should agree and never quite do: the platform's journal and ledger of payments, refunds, chargebacks and fees; the providers' settlement statements; and the credits on the business's bank accounts. Every difference is a late settlement, a fee the provider charged differently, a refund booked on another day, a chargeback not yet recorded or an error, and each must be found and explained, usually daily per provider and monthly in full.
What goes wrong
Providers settle net with their own grouping and dates; currency conversion happens at the provider’s rate; fees are rounded per transaction or per batch; refunds and chargebacks appear in a later statement than the sale; partial captures and multiple captures split one order into several records; and references are truncated or missing in bank credits. The work is matching by reference where possible and by amount and date where not.
What makes it tractable
A stable reference carried through the provider to the statement; per-terminal exports from the platform in the same period cuts the provider uses; recorded settlements against payments; fee rules in the platform that mirror the provider’s price list, so differences are exceptions rather than the norm; and keeping the raw provider statements next to the matched results.
On the platform
Tranzify records each payment with the provider’s references and exports payments, refunds, chargebacks and fees per terminal and period to XLSX and CSV in the cuts a finance team matches against provider statements; the matching itself is the client’s finance process.
Updated: 2026-11-08