Reconciliation
Glossary term
Author:
Fluent Commerce
Changed on:
13 June 2024
Definition
Reconciliation in the context of payments refers to the process of matching and verifying that the payments collected align with the authorizations and shipments. For instance, when you capture an 'authorization' at the time an order is placed and then initiate charges as each shipment is dispatched, you need to ensure that these charges are accurately accounted for and correspond with the initial order and authorization. This ensures financial records are correct and no discrepancies exist between what was authorized and what was actually charged.
