Reconciliation

The system allows the reconciliation of the following:

• assets liquidity (balances reconciliation)
• transactions

The balance reconciliation goal is to compare the liquidity amount in the specified currency in the system with the balance at the respective bank account.

Liquidity amount refers to the amount of money in the system that should be equal to the sum of balances of all clients’ wallets and the sum of commissions that were applied without the necessity to withdraw them from the system.

Transactions reconciliation goal is to compare the list of transactions received from an external system, for example from a third-party provider or from the bank, with the list of transactions created in the system.

During the transaction reconciliation process, the system compares transactions from the file with transactions in the system for the specified period and generates reconciliation mismatches.

To be able to start reconciliation process, the following actions are required:

• For balance reconciliation, set up the system calendar and operational days.
• Create reconciliation configuration. For balance reconciliation, configuration defines reconciliation frequency.
• Create a reconciliation record for the specified configuration. For balance reconciliation, reconciliation records are created automatically according to the specified frequency. For transaction reconciliation, a reconciliation record is created by calling the API. 

Check the Back Office manual for available Reconciliation functionality.