ItsaCheckmate, the center of a restaurant’s digital ordering business, announces Reconcile, a no-fuss, plug-n-play data ingestion, formatting, and reporting tool that allows restaurant accounting teams of all sizes, irrespective of the solution they use, to consolidate all of their 3rd party ordering platform statements into one unified view at the touch of the button.
The beauty of this automated ingest, format and presentation solution is that it can seamlessly fit into any accounting process or system and it eliminates the time-draining, repetitive, error-prone, and low-value tasks required to collect and organize different 3rd party statements.
Once the 3rd party ordering platform statements are consolidated, the tool creates a simple-to-understand reporting of transaction-level details for all orders, with exactly the same information from the financial section of the 3rd party platforms.
The automation of the process allows accounting teams to be far more nimble and move from a quarterly or monthly reconciliation process to weekly, allowing them to catch out-of-place transactions far earlier to recover valuable revenue dollars.
“The previous iteration of this solution, known as Accounting Reconciliation, was exclusively available to our fully integrated customers. It successfully addresses the challenge of reconciling revenue recorded in the POS with the revenue figures reported by 3rd party platforms, ensuring alignment with the final deposit in the bank account. This solution compares the details of each order and flags any discrepancies in either direction,” explains Vishal Agarwal, the founder and CEO of ItsaCheckmate. “However, based on feedback from numerous customers, we realized that although it was highly beneficial, it required significant changes to existing accounting practices. Taking this into account, we developed a streamlined version called Reconcile, which focuses on resolving the primary issue faced by all restaurant accounting teams. We have eliminated the time wasted on collecting, adjusting, and presenting consolidated third-party operating statements. Our solution is adaptable to any accounting workflow, enables a more agile reconciliation process and is available to any restaurant irrespective of who they use for their 3rd party menu and order integration.”