Reconciliation
Reconciliation is the process in which incoming payments are matched automatically or manually with open invoices, orders or receivables.
Reconciliation
Reconciliation refers to the systematic matching of incoming payments with open items — invoices, orders or receivables. The goal is to uniquely assign every incoming payment to a transaction and to identify discrepancies (missing payments, duplicate payments, fee deductions).
For online merchant, reconciliation involves matching PSP payouts with accounting: the PSP bundles transactions and pays out the net amount (after deduction of transaction fees, refunds and chargebacks) to the merchant account. The merchant must break down this payout into individual transactions and book them correctly.
On marketplaces, reconciliation becomes complex: payments must be split among multiple sellers, commissions deducted, refunds booked proportionally and chargeback costs assigned. Automated reconciliation via PSP exports, webhooks and camt messages (ISO 20022) saves significant manual effort here.
Reconciliation examples
An online shop imports the daily PSP payout file into its accounting system and automatically reconciles 150 transactions with the open orders.
A marketplace uses the PSP's webhooks: with every status change (payment confirmed, refund processed, payout executed), the accounting is automatically updated.
A fiduciary receives the monthly reconciliation report: gross turnover EUR 50'000, minus EUR 850 transaction fees, EUR 200 refunds, net payout EUR 48'950.
Reconciliation FAQ
What is reconciliation in payment processing?
Reconciliation is the matching of incoming payments with open invoices or orders. Goal: To clear every payment to a transaction and identify discrepancies (fees, refunds, missing payments).
How does reconciliation work with a PSP?
The PSP provides transaction exports, payout reports, and webhooks. Comerciantes import this data into their accounting system and reconcile it with unpaid items — automated or manual.
What is the difference between gross and net payout?
The gross sum is the total amount of all transactions. The net payout is what the Comerciante actually receives after deducting transaction fees, refunds, and chargebacks.
Do I need reconciliation as a small online shop?
Yes, at the latest for the tax return and the annual financial statements. The PSP payout on the bank account must match the individual transactions. Modern PSPs provide exports that can be imported directly into common accounting tools (Bexio, Abacus).
