An Account is a financial or ledger entity utilized in various scenarios within payment processing and accounting. A bank account, identified by an account number or IBAN, is employed by the payment processor to settle EFT transactions. Incoming payments must correspond with the designated bank account for successful processing. A ledger account in the merchant's general ledger records debit and credit transactions. It is crucial for ReconHub, which periodically exports coordinated and grouped transaction data for seamless integration into the merchant's accounting system, based on configurable posting rules.

Bank data consists of summarized information about payouts received from payment processors, such as total amounts and dates. It does not include details about individual transactions, focusing instead on overall deposits into the merchant's account.

The camt.053 is a standard electronic bank statement format defined by the ISO 20022 framework. It provides detailed information about account transactions, including credits, debits, and balances, facilitating efficient reconciliation processes.

A ReconHub tenant can be subdivided into mandators. Customers usually keep distinct accounting records for each mandator. Mandators, along with the tenant, can own posting rules. Mandators cannot have subordinate mandators. Dividing into mandators is optional.

The Payment Card Industry Data Security Standard (PCI DSS) is an information security standard for organizations that handle credit card numbers (PANs) and other specific card data from the major card schemes, such as Visa or MasterCard. The PCI Standard is mandated by the card brands but administered by the Payment Card Industry Security Standards Council. The standard was created to increase controls around cardholder data to reduce credit card fraud.

ReconHub does not handle complete PANs, related cryptographic material or other PCI-relevant data in connection with PANs and is therefore out of scope of PCI-DSS.

The Point of Sale (POS) is the time and place where a retail transaction is completed. Here, the merchant calculates the customer's total, informs them of the amount, may provide an invoice, and outlines the available payment methods. It is also the point where the customer pays the merchant for the goods or services received. The payment terminal is often called the POS as well.

Within the ep2 payment protocol, the Reconciliation Advice File (RAF) is created by acquirers to offer merchants comprehensive details about processed transactions. This file contains information like transaction amounts, dates, and statuses, aiding in precise reconciliation between the merchant's records and the acquirer's processing results. The RAF is crucial for merchants to confirm that all transactions have been accurately processed and settled.

Sales represent the income a business earns from providing goods or services to its customers. This income is monitored for financial reporting and reconciliation purposes.

A terminal, either physical or virtual, initiates transactions at the POS or in e-commerce. EFT terminals send transactions to a payment processor, which are then settled. Transactions can be input manually or automatically from the ECR, and authorization requests are sent to the cardholder's bank. Approved transactions are submitted to the processor regularly. Terminals may be stand-alone or ECR-integrated, with manual initiation potentially causing reconciliation errors.

Transaction matching involves matching individual transactions from various data sources, like ECR and EFT transactions, to detect and resolve any discrepancies. This process ensures that all transactions are recorded and accounted for accurately.

The user, an employee of the merchant, can log in to the multi-user ReconHub UI to manage reconciliation processes, including searching, viewing, filtering, and exporting transactions, as well as editing settings and creating adjustments. Users with management access can also create and manage user permissions.