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FinTech Glossary

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3-Way Reconciliation

What Is 3-Way Reconciliation?

3-way reconciliation is the process of matching three records, typically invoices, payment records, and bank statements, to ensure transaction accuracy and financial consistency.

How 3-Way Reconciliation Works?

Finance teams compare invoice details, payment confirmations, and bank credits. Any mismatch is investigated before closing books. This method is common in payments, accounting, and audit processes.

Why 3-Way Reconciliation Matters?

It reduces errors, prevents fraud, and ensures clean financial records. Regular reconciliation avoids the accumulation of discrepancies that complicate audits and reporting.

EnKash Relevance

EnKash centralises spend and payment data, simplifying reconciliation by aligning approvals, transactions, and settlement records in one platform.

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