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Revenue accounting

Reconciliation

Matching what you invoiced to what you were paid to what landed in the bank, and explaining every difference.

Reconciliation ties three records together: what the billing system invoiced, what the processor reports as captured, and what the bank actually received.

Differences are normal and each has a cause: processing fees, refunds, chargebacks, foreign exchange, timing across a month boundary, and rounding. The goal is not that the numbers match, it is that every difference is explained.

Reconciliation is the work that makes revenue reporting trustworthy. A business that cannot reconcile cannot confidently state its own revenue, no matter how good its dashboards look.

Related terms

  • Settlement and payout Funds moving from the card networks to your bank account, usually in batches and net of fees.
  • Invoice The document that states what a customer owes for a period, line by line, with tax and totals.
  • Revenue recognition Determining when revenue is earned rather than when it was invoiced or paid.