Pine labs is a payment gateway partner that helps you facilitate online payments to your customer. It helps customers make in-store payments by scanning QR codes, debit cards, credit cards etc. Pine Labs also have the pay later on EMI option. As many people go cashless these days Pine Labs is very useful to partner with for in-store online payments. Since many customers make payments through Pine Labs, checking each payment received becomes difficult. Sometimes the amount collected might be wrong or some payments might be missing. Hence to verify all Pine Labs in-store transactions you can use our reconciliation software. Our software automates the data load and accepts files in various formats. Then it cleans the data removing all duplicates and applies logic conditions. Then you can schedule the download and get the results at your convenience.
Reports required for Reconciliation
Pine labs Offline Reports
All transactions carried out via Pine Labs is present in this report
Bank Statement
The transactions that reflect in your bank account are shown here.
Pine Labs Instore – Bank Reconciliation
To verify all the payments made by Pine Labs to your bank account, the software links the Pine Labs report with the Bank statement. You can check and know the exact amount underpaid and claim any outstanding payments by conducting the Pine Labs Bank Reconciliation process
Found in Bank Statement:
These are orders for which payments are made to your bank account by Pine Labs.
Not Found in Bank Statement:
Shown here are the orders for which payments are not present in your bank account.
Bank – Pine Labs Reconciliation
This time, the software links the bank statement to Pine Labs and does a comparison with the bank statement. It displays the payments that have already been received as well as those that have yet to be received. Additionally, it displays the amount that Pine Labs overpays or underpays.
Total UPI Transactions
This shows the total number of transactions processed through Pine Labs UPI method that reflect in the bank statement.
Reconciled Pine Labs UPI Settlements
Shown here are the transactions that are present in both the Pine Labs report and the bank statement. The amounts match in both reports, so these transactions are reconciled.
Less Settlement Received from Pine Labs UPI
These are the payments for which the amount recorded in the Bank statement is lesser than the amount recorded in the Pine labs report. So, you have been underpaid on these orders.
More Settlement Received from Amount Pine Labs UPI
The amount recorded in the Bank statement is more than the amount received in the Pine Labs report for these payments. It means that you have received an extra amount on these orders.
Using our software for reconciliation, it automates data load accepting multiple file types such as CSV, XML, XLXS etc. via integrated API. It cleans the data automatically to enhance accuracy and remove duplicates. Once this step is done the software applies the logic conditions and business rules as per your organization. Then the final reconciliation result is generated. You can also export this result in multiple file formats such as CSV, XML, PDF etc. to other software too. This process can be scheduled at your convenience and can be automated to run every month. As you see our reconciliation software fully automates the Pine Labs in-store reconciliation process for you. It helps you know exactly how many customer payments reach your bank account through Pine Labs. You will then never miss any customer payments made in-store. You can then claim the underpaid amount from Pine Labs.
