Five years and over a million unreconciled transactions across the online store, several payment providers, cleared and automated into a repeatable monthly routine.
- Client
- A leading Australian online retailer in health supplements, apparel and accessories.
- Industry
- E-commerce: supplements, activewear, accessories
- Founded
- 2014
- Annual turnover
- AUD $50 million
- Platforms
- the online store, multiple payment providers, a payment provider
- Scope
- Backlog remediation, reconciliations, compliance position, monthly close automation
Pre-engagement challenges
Five years of transactions nobody had matched
- ▪High transaction volumes across the online store and multiple payment gateways overwhelming manual workflows.
- ▪Disparate, unintegrated data sources delaying reporting and complicating matching.
- ▪Extensive spreadsheet use for B2B orders increasing error risk.
- ▪Frequent inventory changes and refunds complicating accurate matching.
- ▪Five years and over a million unreconciled transactions, aged debtors and unreliable reports.
- ▪Compliance risk against Australian accounting standards, reporting obligations.
Our approach
Clear the backlog, then make it impossible to rebuild
- 01Diagnostic review of all the online store sales, gateway statements and reconciliation processes, mapping journal entries from order to payment.
- 02Platform integration with automated data feeds for sales, fees and refunds.
- 03Dedicated clearing accounts for each payment gateway: the online store, multiple payment providers and a payment provider.
- 04Inventory and refund automation, reconciling system stock against order data with correct accounting treatment.
- 05Real-time reporting dashboards and a standardised reconciliation template for every month going forward.
The result
From an annual crisis to a routine monthly process
The backlog was cleared and reconciliation moved from an annual crisis to a routine monthly process.
The finance team gained reliable revenue and debtor numbers, a defensible, compliance position, and dashboards they can act on.
The clearing account structure, automated feeds and reconciliation template stay in place. That is the part that keeps the backlog cleared.
Frequently asked questions
Can you handle a backlog while running business as usual?
Yes. Backlog remediation runs in parallel with the ongoing monthly close, so current reporting is never paused.
What happens after the backlog is cleared?
The clearing account structure, automated feeds and reconciliation template stay in place, so the same backlog cannot rebuild.
