Financial reconciliation is a trivial and complex job, so it requires patience and careful work, also requires personnel to reconciliation reconciliation system to be very familiar with. In this paper the author by the financial reconciliation system v1.0 from the project to be re-set process knot, financial reconciliation process with you about, reconciliation of business rules and related concepts explained.
First, re-purpose tray
- Financial reconciliation system v1.0 do a whole review from the project to knot the process;
- Summarize the results of the current achievements and problems that currently exist.
Second, the system overview
Accounting definition of reconciliation is: books and records in order to ensure the authenticity, integrity, accuracy, after accounting before checkout, regular or irregular basis to relevant data check, check.
It contains reconciliations three aspects, namely, account card checking, checking account statement, check the accounts:
- Account card check: the books and records are checked against vouchers, vouchers for here is that the financial systems orders.
- Ledger reconciliation: that the more books there is a correlation check the records. Correlated books and records, including general ledger reconciliation between, among other types of check books details. For example: check the total expenditure of the company's business and the free money, coupons, merchandise procurement, billing and other business expenses, is the general ledger reconciliation; income and expenditure details of each account and total receivables accounted for, total expenditure checked, are ledger thin check.
- The accounts and check: is reconciliation between the value of the assets recorded material and the actual true amount. For example: a user purchases the rights that he did enjoy the rights purchased; purchase of physical goods, received the real commodity.
Financial reconciliation system to do is to help the financial sector come to check the results of the above three aspects.
Third, the current achievements
- After in-depth understanding of the company's various business models, finance department launched the internal control system, the company's businesses were the norm, including but not limited to: billing information, service request payout process, supplier settlement and settlement standards, new suppliers access into the process, the financial risk control, contract management.
- After a month the finance department can handle accounts through the financial system, save on labor costs business and financial sectors.
- Accounting accounts every month to support the corresponding bill details, so that account card match, match ledger, accounting consistent with the accounts and accounting purposes.
- Financial reconciliation system to provide a unified financial reconciliation interface to access lines of business financial reconciliation system comprising an end user for payment reconciliation c standards and standards for reconciliation suppliers settlement terminal b.
- Finance departments can better financial management of the various lines of business, including, but not limited to: cost control, a variety of sales and other expenses.
Fourth, the concept of interpretation
1. BC end of the reconciliation
The concept comes from the flow of funds platform:
- Users pay through the platform, capital inflows platform account from the user's personal account;
- The payment settlement platform supplier, supplier account inflows from the platform account.
As shown below:
Capital flows 1: is the C-terminus of reconciliations, verification purpose is to ensure that each has received money platform basis to achieve accord account card, "card" is reflected in each payment corresponding to the order. Because the transaction is relying on to complete the order, the order is trading between the platform and user credentials. Both sides check fields are: Merchant order number, transaction amount, transaction time, accounts receivable:
- Merchant Order Number: vouchers are trading platforms and payment processors.
- Transaction Amount: The amount that is the amount and payment processors actually paid user actually received, and if the refund amount is negative.
- Trading Hours: ie the user the actual completion time payments, determines the financial account of division.
- Collection Account: third-party payment platform mechanism is opened accounts receivables, attributable to the platform. When the user needs to pay for the transfer of funds from the account user accounts to the platform, when the refund money transfer required by the platform user account to account, require special attention are: collection of accounts receivable when accounts and refunds of payments is not necessarily the same a need to clearly know the record of each transaction on the financial account.
Capital flows 2: Reconciliation is the B-side, check the purpose is to ensure the platform for each supplier spend money have basis to. Evidence-based is also reflected in the sum of each order transaction voucher valid between platforms and suppliers (suppliers based on cooperation and to define valid orders), orders Yes. Both sides check fields are: a single number settlement, the settlement amount, settlement time, supplier:
- No statements: black card platform and third-party vendors of trading credentials.
- Settlement Amount: both sides need the final settlement amount, in the case only if both parties agreed settlement amount before settlement.
- Settlement Time: cooperation and suppliers determined according to the finish means that parties to the transaction, such as: electricity supplier has shipped orders and train ticket order or ticket orders shipped only successful only implies the need for and supply of settlement the financial account of the time decided to divide.
- Supplier: the main platform for the settlement.
2. BC end of the series
Due to the different collation target side BC bill, determines the different ends of the bill generation logic BC, BC-end bill is thus generated are collated respectively. However, the sum of the bill containing the complete effective C-terminal B-side settlement of receivables and, in the settlement and suppliers need to know when we receive the C-terminus of how much money the corresponding marketing costs is how much, and therefore need to end BC bill in series.
Because B is bound to the C-terminal end of the settlement payment, so the rules BC end of the series is the reference B bills end, the C-terminal end of the bill B based billing up in series. Take electricity supplier business, for example: according to the presence cart order business rules, assume a single user as follows:
After successful payment, C terminal bill a sum, B, 1 pen end bill, series BC-end financial statements in order to know how much income can be confirmed, advance to confirm how many (actually more complicated rules will not repeat them here).
Overall system design:
V. Conclusion
To make the financial needs, the need for the company's in-depth understanding of each business line.
Although the project in front and then we will reach a consensus on the business rules of each service, but the project is still imperfect rules related to questions such as: condition BC end bills in series (temporary demand optimization period), train ticket change how billing under the sign, the actual business rule is inconsistent with our original set of settlement rules, etc., there are some problems after the line item reconciliation process of discovery.
Financial reconciliation work is a tedious and heavy workload, demanding data accuracy, and requires all the rules must be strict, and rigorous premise that business and systems have in-depth understanding.
Do the financial needs requires great care and patience, when the project is just on the line every month a lot of abnormal bills, bills every day to work overtime to handle exceptions, investigation and cause of the abnormality, to promote the development and recurrent optimization.
At that time the bill was very abnormal collapse, product manager for financial reconciliation, but fortunately we have a small team of partners (including the financial sector, the development team, each line of business) is great, though sometimes we have emotions, but always team goals has now reconciled entire financial system has been stabilized, even if there are new business development system can directly access financial reconciliation.
In fact, the current financial reconciliation systems as well as optimization space can greatly improve the efficiency of the financial sector, but the core requirements have been met, according to the company's business development to iterative too late.