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Payment Clearing: How Automatic Payment Reconciliation Saves Time and Money

Digitization has sustainably simplified financial accounting. But even after online banking has moved in, a lot of time-consuming tasks remain, such as reconciling invoices and incoming payments.

Payment Clearing: How Automatic Payment Reconciliation Saves Time and Money

Digitization has sustainably simplified financial accounting. But even after online banking has moved in, a lot of time-consuming tasks remain, such as reconciling invoices and incoming payments.

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The advantages of digitized financial accounting are many: All important data can be easily and efficiently recorded, processed as well as evaluated and archived. Even otherwise time-consuming processes such as bookings or invoicing are faster and easier, and business analyses are usually available at the touch of a button and in real time.

Cloud-based solutions in particular enable companies of all sizes to start digitizing their financial accounting, often at moderate cost. This is because companies do not have to purchase and operate the necessary software and servers themselves.

More efficiency in clearing with automation

Monitoring and reconciling receivables and incoming payments in particular is a major time-consuming task – the more transactions, the more work is involved. In e-commerce in particular, automatic payment clearing is used to automate and thus accelerate the monitoring of all receivables from end customers.

However, the tasks of modern payment clearing do not stop at payment and receivables reconciliation, they are just beginning. Increasingly, there are different payment methods and accounts in e-commerce. It is almost impossible to keep track of everything in financial accounting. On the other hand, different payment methods can attract new customers and simplify the payment process for them. This makes it all the more important to be able to correctly allocate incoming payments in payment clearing.

Also prepared for slips

Of course, it can also happen that a customer makes a mistake when paying – a number error can happen quickly to anyone, whether it’s the invoice number or even the amount. Here, too, it is the task of automated payment clearing to correctly allocate these incoming payments and to point out the discrepancy. If, for example, customers contact you about an incorrect reminder, you can still easily reconcile the payment.

The payment clearing standard developed by nexnet offers exactly the right solution if you want to monitor your financial transactions efficiently, securely and conveniently. In doing so, nexnet permanently informs about all money movements, their completeness, due date and correctness. Payment Clearing from nexnet matches all financial transactions with the sales data from your online stores, marketplaces or even offline sales channels.

This not only saves a lot of time and resources, but also reduces the susceptibility to errors, which is relatively higher with manual checks.

The Payment Clearing services from nexnet at a glance

  • Linking payment clearing and accounts receivable management
  • Automatic verification of incoming payments and monitoring of all financial transactions
  • also at individual transaction level including account reconciliation
  • DSGVO-compliant, with the highest IT security and according to German data protection laws
  • also suitable for international transactions
  • Industry neutrality: applicable in any business field
  • Can be combined with BI reporting and other modular services from nexnet on request

The experts at nexnet have over 20 years of experience in payment clearing and accounts receivable management – whether in e-commerce, telecommunications or the automotive industry. This means that you can count on nexnet’s concentrated experience when it comes to your finances. The company works with the most important payment service providers to offer your customers the best possible shopping experience. An overview of the activated payment service providers can be found here.

See now how you too can improve your payment reconciliation and thus relieve your financial accounting. Integrate payment clearing into your company now with nexnet and automate your financial accounting.

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Stephanie Timm
Stephanie Timm

Seit rund 3 Jahren Redakteurin und Content Creator bei nexnet GmbH. Geschult in den Themen Billing, Payment und Finanzmanagement recherchiert und verfasst sie Texte, die dem Leser nicht nur die spannende Welt von Billing, Debitorenmanagement, Payment Clearing und Co. näherbringen, sondern sie berichtet auch über Änderungen zu den Regularien in diesen Bereichen.