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Reconciliation

Prove the numbers. Don't assume them.

Reconciliation confirms that what was recorded, what settled and what arrived all agree — and explains every difference that remains. Three independent records describe the same money, and they rarely match line-for-line on first sight. Reconciliation is the control that closes the gap.

Three records, one truth

The same money, described three ways.

Reconciliation matches these three, accounts for legitimate differences (fees, timing, FX), and surfaces everything that doesn't reconcile as an exception to resolve.

  1. 01
    The system of record
    What the PMS or POS booked as a sale.
  2. 02
    The settlement data
    What the acquirer or PSP says actually settled, net of fees.
  3. 03
    The bank statement
    What money genuinely landed in the account.
How it flows

The elements involved.

THREE RECORDSMATCHRESULTSystem of recordSettlement dataBank statementReconcileReconciledExceptionsmissing · duplicate · partial · mismatched
01
Matching rules
Linking records by reference, amount, date, batch, or a combination.
02
Fee reconciliation
Confirming deducted fees match the agreed schedule, not just that a payout arrived.
03
Timing differences
Cut-offs, weekends and T+n mean a sale and its settlement legitimately fall on different days.
04
Exceptions
Missing, duplicate, partial or mismatched items — the cases that need attention.
05
Refunds and chargebacks
Reversing flows matched back to their original transaction.
06
Multi-currency and FX differences
Small variances from conversion between transaction, settlement and booking currencies.
07
Bank statement ingestion
Structured formats (CAMT.053, MT940) bringing the bank's view into the match.
08
The reconciliation lifecycle
Ingest → match → isolate exceptions → resolve → mark clean for posting.
Why it matters

The gaps between these three records are exactly where money leaks: under-settled transactions, fees that don't match the agreement, refunds processed but never funded, transactions that never settle. Reconciliation is also the evidence trail for audit and the gate that month-end close depends on. Unreconciled, a group trusts that the chain worked — reconciled, it can prove it did.

Glossary

Key terms.

Three-way reconciliation
matching system, settlement and bank records.
Matching key
the reference used to link records.
Exception
an item that doesn't reconcile and needs resolution.
Chargeback
a disputed transaction reversed by the issuer.
CAMT.053
an ISO 20022 bank statement format.
MT940
a SWIFT end-of-day bank statement format.

Close the gaps where money leaks.

Reconciliation is where errors are caught and the numbers are proven. Talk to our team about your close process, or see how three-way matching and exception handling work inside the platform.

Juno Financial Suite

Knowledge

Payment Reconciliation — questions answered

Quick facts

What it is
Matching what was captured against what was settled, and — for enterprise estates — against what reached the bank.
Modes
Standard two-way (transactions vs. settlements) and Enterprise three-way (adds bank statements).
Sources
PMS/POS transactions, acquirer settlement files, and bank statements in enterprise mode.
Output
Posted into the property's ERP via the Juno Financial Suite.

Frequently asked questions

What is a three-way reconciliation?

A three-way reconciliation matches three independent records of the same payment activity — the transactions the property captured, the settlements the acquirer paid out, and the movements that reached the property's bank account. Standard reconciliation matches the first two; three-way adds the third. The value of the third leg is that money can appear settled by the acquirer but be delayed, short-paid or mis-posted before it lands in the bank, and that gap only becomes visible when the bank statement is part of the match.

Related: Juno Financial Suite

What data sources does Juno reconcile?

In standard reconciliation, Juno reconciles processed transactions from integrated PMS and POS platforms — and from standalone terminals — against the settlement files paid out by the acquirer, including transaction fees and commission structures. In enterprise three-way reconciliation, the property's bank statements are added as a third source, so the acquirer's stated payout is matched against the bank movement that actually arrived.

Which statement formats are supported?

Bank statement ingestion is available through the standard hospitality-relevant formats — including CAMT.053 (the ISO 20022 bank-to-customer statement used by most European banks) and MT940 for banks that still publish the legacy SWIFT format — with additional formats added where the acquiring and banking geography requires them. Because reconciliation is delivered by 934, the ingestion configuration is agreed per estate rather than being fixed to a single format.

How are exceptions handled?

Discrepancies — missing settlements, short-paid payouts, fee differences, unmatched transactions — surface as exceptions rather than sitting inside a reconciled total that hides them. Each exception is flagged with enough context to see the transaction, the settlement it should have matched and the difference. Finance teams can work through them before month-end close, and — for customers on 934 Services — the operational side of chasing exceptions can be delivered by the 934 team.

Related: 934 Services

How does reconciliation post to our ERP?

Once transactions are reconciled, the Juno Financial Suite posts the resulting data into the property's ERP — so what reaches the ledger is already matched to what was settled, with commissions and fees attributed. Supported ERPs include bexio, Xero, SAP Business ByDesign, SAP Business One, Microsoft Dynamics 365 Business Central and Oracle NetSuite. The posting cadence and GL mapping are configured per estate.

Related: ERP integration, Juno Financial Suite

Related on 934

Reconciliation in the wider platform.

Product

Adjacent solutions

See it live