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Cash Flow Integrity

Bank, Credit Card & Payment Gateway Reconciliation in Goa

Systematic matching of bank statement entries against internal accounting ledgers, POS swipe machines, UPI QR collections, and online payment gateway deposits.

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Who Needs This Service in Goa?

Whether your enterprise operates out of Panjim, the coastal hospitality belt, or commercial trading nodes, proper financial hygiene is vital. This service is tailored for:

  • Restaurants and retail stores handling hundreds of UPI QR codes and POS card swipes daily.
  • Hotels and travel operators collecting customer advances through Razorpay, Paytm, Stripe, or Pine Labs.
  • Wholesalers with high-frequency cheque clearances and electronic vendor transfers.
  • Businesses with multiple bank accounts (Current accounts, Overdraft/OD facilities, Escrow).
  • Enterprises facing unexplained balance differences between tally books and online bank balances.

Scope of Deliverables

BizMitra maintains structured procedures to ensure every deliverable is verified, documented, and archived:

  • Monthly / weekly Bank Reconciliation Statement (BRS) with clear reason codes for variance.
  • Identification of uncredited cheques, stale cheques, and dishonored receipts.
  • POS card machine batch settlements reconciliation against gross merchant deposits.
  • Accounting for payment gateway convenience fees, chargebacks, and GST on merchant discount rates (MDR).
  • Tracking of bank charges, auto-debits, interest on OD/CC limits, and loan repayments.
  • Actionable variance report highlighting untraced deposits or unauthorized debits.

Our Working Process

01

Data Collation

Extract official bank statements and settlement reports from POS machines (Pine Labs, Paytm, MSwipe) and online gateways.

02

Automated & Manual Ledger Matching

Match transaction reference numbers, amounts, and settlement batches against internal sales and cash registers.

03

Investigation of Variances

Flag missing entries, timing differences, deducted bank fees, and disputed card transactions.

04

BRS Sign-off & Adjusting Entries

Post adjusting entries for valid bank charges and deliver a formal Bank Reconciliation Statement signed off for management records.

Required Documents & Information

To begin work smoothly, clients are requested to have the following materials available:

  • Bank account statements for all operational, overdraft, and savings accounts.
  • Internal cash and bank receipt registers.
  • Merchant terminal batch settlement summaries or POS portal exports.
  • Payment gateway merchant statement with MDR charges.
  • Cheque counterfoils and deposit slips for physical instruments.

Frequently Asked Questions

Card swipe transactions typically incur Merchant Discount Rate (MDR) deductions (typically 1% - 2% plus 18% GST), and payment settlements may take T+1 or T+2 working days to hit your bank account. Our reconciliation tracks these net differences cleanly.
For high-volume retail or hospitality businesses, weekly reconciliation is strongly recommended to catch billing errors or duplicate debits early. For standard trading firms, monthly reconciliation is generally sufficient.
Yes. Banks routinely levy non-maintenance charges, cheque return fees, SMS charges, and loan processing charges that go unnoticed unless line-item reconciliation is conducted.

Professional Engagement Standard

Ledger matching, discrepancy identification, and journal adjustment performed directly by BizMitra. Formal bank fraud investigations or banking dispute litigation remain under your authorized legal and banking channels. Statutory audits under the Companies Act, tax audit reports under Section 44AB of the Income Tax Act, and appellate court appearances are conducted in formal coordination with eligible, licensed professionals under separate engagement.