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Credit Card Reconciliation

What is Credit Card Reconciliation?

Credit card reconciliation is the process of comparing transactions recorded in a company's accounting records with those listed on credit card statements to ensure accuracy and completeness. It involves matching individual credit card transactions to corresponding entries in the company's financial records, identifying discrepancies, and resolving any discrepancies through adjustments or corrections. 

ZoneReconcile, a bank and credit card reconciliation app natively built for NetSuite, enables finance teams to upload credit card statements to NetSuite and automatically match transactions based on transaction details (e.g., date or amount) or create new transactions for approval.

Related terms

Forecast Variance
Forecast variance is the difference between a predicted result and the actual outcome over a given period for a variety of business activities.
Free Cash Flow
Free cash flow (FCF) describes the cash left over after your company pays its operating expenses and handles maintenance costs for capital assets.
Invoice Processing
Invoice processing is the entire workflow a business follows to manage incoming invoices from suppliers or vendors, all the way from receiving them to paying them. It's essentially how companies ensure they're paying the right amount, to the right vendor, at the right time.
Invoicing
Invoicing is the process of formally requesting payment for goods sold or services rendered.
Journal Entry
A journal entry is a record of a financial transaction entered into an accounting system.
Operating Cash Flow
Operating cash flow describes how money moves into and out of a company. Otherwise known as “net cash generated from operations” or “cash flow from operating activities,” this is often the first metric appearing on a business’s cash flow statement.