Reconciliation of Accounting

Streamlining the Accounting Process

Bank File Submission and Accounting Reconciliation

The Gateway eases the process of accounting reconciliation for organizations, regardless of the payment method(s) utilized. To do so, when submitting a payment file (NACHA, PAD, or X9) to a client's institution, the file itself is assigned a unique identifier (called a File ID, Deposit ID, or Credit ID) by the Gateway. This unique identifier is then assigned to each payment transaction within the file. By doing so, the client can use the unique identifier to group payments and create a one-to-one match between the sum of grouped payments and the client's bank line item showing the grouped deposit or credit.

An illustration of the process can be found below.