What is Reconciliation?

Reconciliation is the process of comparing your sales and payment records to ensure that everything matches—what you sold, what you were paid, and what fees were taken out.

It helps make sure:

All your transactions were processed correctly
You were funded the right amount
Any fees, chargebacks, or refunds are properly accounted for

Why is Reconciliation Important?

Accuracy – Helps confirm that every sale has been settled and deposited.
Cash Flow Visibility – Lets you clearly see what funds you’ve received and what’s still pending.
Error Detection – Catches any discrepancies, such as missing funds, duplicate charges, or incorrect fees.
Better Reporting – Supports accurate bookkeeping and tax reporting.

How It Works (Simplified):

Review Sales Reports: Look at your daily or weekly sales from your POS or payment system.
Match With Bank Deposits: Compare that against the amounts deposited into your business bank account.
Check for Fees or Adjustments: Account for any processing fees, chargebacks, or transaction holds that may reduce the final payout.
Resolve Discrepancies: If something doesn’t match, you can investigate and reach out to Fractal for support.

Example:

You had $1,000 in credit card sales today.
You expect a deposit of $970 because your processor charges 3%.
If you receive $950 instead, reconciliation helps you figure out why—maybe a $20 refund or chargeback was processed.

Bottom Line:
Reconciliation is your way of double-checking your money—it ensures you get paid properly and can catch issues early. It’s a vital habit for staying on top of your finances and running your business smoothly.