A payment gateway is a third-party portal that transfers payments from the customer’s account to the seller’s account. It basically authorizes online payments through debit cards, credit cards, QR code scans, UPI, digital wallets and money transfers etc. In this day and age of online payments, a secure connection to make payments is highly necessary. Hence payment gateways are used by businesses to authorize those payments. As customers would be able to trust third-party portals like a payment gateway to make transactions. But as a company, checking every payment made by the customer through the payment gateway might be tough but checking these payments is important because if the amount to be transacted is lesser than what was supposed to be sent on multiple occasions, then that leads to a big loss. Hence, we now provide a solution to that problem with our automated reconciliation software. Our software completely automates the Website orders with Payment Gateway Reconciliation process for you. It shows you the orders on which payments are transacted correctly by your payment gateway partner. It also shows you if a lesser amount is paid on any of the orders, in which case you can claim the pending amount.
Reports needed for Payment Gateway Reconciliation
Internal report
It consists of all the information regarding the orders placed on the company website
Payment Gateway Report
All details on all transactions processed through the payment gateway are recorded in this report
Bank Statement
This report is used to compare against the payment gateway and internal report to check if payments reach your bank account
Website orders with Payment Gateway Reconciliation Result Payment Gateway- Website