Overview
There are 2 versions of non-cash reconciliation.
Scenario 1: 3rd party pay you at an outlet level
Scenario 2: 3rd party pays you at an entity level
Typically for sales reconciliation it is feasible to reconcile at an outlet level however for payment it is dependent on the payment schedule and arrangement with your 3rd party.
Please refer to our list of supported found in Connector Library to identify if they pay at an entity or outlet level.
Designed to reduce manual effort, this tool ensures accurate reconciliation and provides clear visibility into your revenue data.
Steps for performing reconciliation
Collect data
Run reconciliation
Review Recon Results
1. Collect data
Depending on the platform, VAL uses a variety of way to collect data. The available options today is as follows:
Direct API or database connection
Upload report received from FTP server
Upload report received from email
Upload report into VAL Drive
You can find the instructions on how to upload report into VAL Drive at VDrive
For details for each platform of what is the format to upload and what views are available, you can refer to our list of Connector Library. Click on the connector to view the instructions for uploading the report into VAL.
2. Run Reconciliation
To run the reconciliation, you can do it either via the dashboard thru the buttons provided or going to the workflow module to run the specific workflow on the backend. Please refer to the related workflows at the end of this article to find the workflow for triggering the reconciliation.
3. Review Recon Results
Understanding the Recon Results
Go to the corresponding dashboard to view the reconciliation result. Please refer to our list of dashboard at the end of the article, where we list the dashboard name for each platform.
The recon dashboard contains the following widget
Data Availability
Company Level Mismatch
Entity or Brand Level Month Mismatch
Outlet Level Month Mismatch
Data Availability
Highlights the missing data required for reconciliation. 3 sets of data are required: POS, 3rd Party Settlement Report and Bank Statements
Look out for dark colors dots indicating which data is not available on the Data Availability widget. Hover over the dot to see the details of which outlets is missing data
Alternatively, the Data Availability Summary will highlight the specific dates and outlets that are missing in a table form. Perform filter to drill down.
Company Level Mismatch
Highlights the company level mismatch for Platform vs POS variance and Bank vs Platform variance.
Positive variance means platform recorded more than POS
Negative variance means platform recorded less than POS
Entity Level Month Mismatch
Outlet level and entity level payment will have slightly different views given the nature of payments. Both will highlights the entity/brand level mismatch for Platform vs POS variance and Bank vs Platform variance. This is based on the order month.
Take note that Disc, SR Brks are only relevant for 3rd party delivery platforms
Outlet Level Month Mismatch
Outlet level and entity level payment will have slightly different views given the nature of payments. At outlet level, users will be able to see payment at a outlet level however for entity level, there will be no breakdown of payment at a outlet level. Highlights the outlet level mismatch for Platform vs POS variance and Bank vs Platform variance. This is based on the order month.
Users can choose to perform the adjustments at this level or perform it separately at a daily level. Perform filter to drill down
Take note that adjustments made at a daily level currently do not rollup to this widget. Monthly adjustments need to be manually made here
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The difference between outlet level payment and entity level payment is that the widget is split into two widgets. The sales reconciliation is at a outlet level while the payment is at a entity level
Outlet Level Day Mismatch
Highlights the outlet level mismatch for Platform vs POS variance and Bank vs Platform variance.
Two widgets are provided: Sales reconciliation and Bank reconciliation
The date used in sales reconciliation is based on Order Date and the date used in bank reconciliation is Value Date (V. Date)
Take note that you can identify the expected receivable in the sales recon widget in the bank recon widget to check if it has been received. There are scenarios where multiple day sales are paid out in single day such as weekends and holidays.
Below example
18 and 19 Sep orders are paid out on the 23 Sep.
20 Sep orders are paid out on the 24 Sep.
Users can choose to perform the adjustments at this level or perform it separately at a month level. Click on the remarks column to type in your comments and click on the adj fields to key in your adjustment amount. To see the adj take effect click on the reload icon on the top right of the widget
Take note that adjustments made at a daily level currently do not rollup to monthly entity widget.
Fields Explain
Name | Description |
O. Dte | Order date |
Entity | Entity of the company |
POS Sales | Net sales calculated from POS transaction or collection report data |
Plt Sales | 3rd party platform recorded sales from platform settlement report |
S. Var | Discrepancy between platform and pos (Platform - POS)
|
Disc Brks* | Mismatches due to discounts not captured correctly in POS based on merchant discount and not platform discount |
SR Brks* | Mismatches due to discounts not captured correctly in POS based on merchant discount and not platform discount |
Oth Brks | Mismatches due to data capture error or interface problems |
Receivables | How much 3rd party platform have indicated to payout |
Received | How much received from 3rd party platform in the bank |
B. Var | Discrepancy between bank and platform (Bank - Platform)
|
S. Adj | Shows the adjustments manually made to sales variance |
B.Adj | Shows the adjustments manually made to bank variance |
S. Adj Var | Shows the post adjusted platform and pos variance |
B. Adj Var | Shows the post adjusted bank and platform variance |
Take note that Disc, SR Brks are only relevant for 3rd party delivery platforms