Reconciliation Best Practice

A guide to reconciliation in the Travel Ledger Platform

The Travel Ledger platform provides support for reconciliation. By using our Task Scheduler (settings>Task Scheduler), you can set up reports to be delivered to you on a regular basis as per your reconciliation schedule.

Two key reports used for reconciliation are the 'Standard Seller Rec Report' (due to be sunset on 31/12/2023 alongside the standard seller upload) which is a txt format file, and the Transactions Report which is the most up to date report and is in CSV format.

Reconciling Direct Debits

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For direct debit transactions on PE schemes, we recommend a two part reconciliation. Firstly, reconciling against what the Buyer has accepted and then secondly, when the actual payment has reached your bank. The transactions report can support in both these instances as it updates the transaction and settlement status throughout a cycle.

We suggest to complete final reconciliation on bank as this avoids problems with failed payments.

Reloading transactions may be two tier, you may find at first reconciliation you have Buyers that have either ignored or incorrectly rejected transactions which need to be reloaded for the following week, and then if you have any failed payments at time of bank payment then you would again need to reload any associated transactions.

Reconciling TL Pay

With the fast payment using TL Pay, you will find that a single reconciliation will suffice as the funds will hit your wallet very quickly without a Processing Entity handling and disbursing them in the middle. Again, the Transactions report will support this.

Parameters for Transactions Report

When setting up your Transactions report for reconciliation ( see Scheduling Reports in Task Scheduler) you are able to tailor the report date parameters by 'Last Collection' which is very useful to configure to run on a regular basis after the collection is submitted. Last collection can be selected on the basis of the commit date or the collection start date.

For guidance on configuring your reconciliation reports, please see Scheduling Reports in Task Scheduler.