The Importance of Card Reconciliation for Small Businesses
Posted: Sun Jan 19, 2025 9:52 am
Many retailers neglect financial control. They do it half-heartedly, leaving aside bank reconciliation and card reconciliation . This happens due to sheer ignorance. Many small retailers have no idea of the importance of comprehensive financial management, capable of identifying fraud and duplicate charges.
The consequences are serious: by not identifying these flaws, the retailer can lose up to 3% of their monthly revenue.
Do you think that’s not enough? Then let’s talk about numbers!
Let's say your gross revenue is R$50,000 per month. 30% of lawyer database sales are made by credit card. Of that R$15,000 (30% of R$50,000), R$450 (3%) is lost every month. At the end of the year, you will have wasted R$9,600.
Now, imagine what you could do with that money: Buy new equipment? Invest in a digital marketing campaign? Pay a supplier? R$10,000 is certainly worth it!
Calculate right now how much your company could be losing.
You can never be too careful
As if losing money wasn't enough, the lack of card reconciliation causes more problems. The first of these is an imbalance in cash flow . When the available balance is different than expected, all of your operations are compromised.
The second disappointment is fraud. Unfortunately, no one is immune to fraud. In this case, the loss is doubled: loss of the product and chargeback .
We also have operators and sellers who act in bad faith, registering purchases that never happened or simulating sales and then canceling them. It's time to monitor each of your transactions.
The consequences are serious: by not identifying these flaws, the retailer can lose up to 3% of their monthly revenue.
Do you think that’s not enough? Then let’s talk about numbers!
Let's say your gross revenue is R$50,000 per month. 30% of lawyer database sales are made by credit card. Of that R$15,000 (30% of R$50,000), R$450 (3%) is lost every month. At the end of the year, you will have wasted R$9,600.
Now, imagine what you could do with that money: Buy new equipment? Invest in a digital marketing campaign? Pay a supplier? R$10,000 is certainly worth it!
Calculate right now how much your company could be losing.
You can never be too careful
As if losing money wasn't enough, the lack of card reconciliation causes more problems. The first of these is an imbalance in cash flow . When the available balance is different than expected, all of your operations are compromised.
The second disappointment is fraud. Unfortunately, no one is immune to fraud. In this case, the loss is doubled: loss of the product and chargeback .
We also have operators and sellers who act in bad faith, registering purchases that never happened or simulating sales and then canceling them. It's time to monitor each of your transactions.