Reconciliation is the process of checking a provider event and deciding where it belongs in Symba Payments.
A provider event is a message from a payment provider. It may say that money was received, a transfer succeeded, a transfer failed, or a payment status changed.
A Symba Payments transaction is the record created inside Symba Payments for work such as collecting a repayment, making a deposit, disbursing a loan, or processing a withdrawal.
Most events are matched automatically. Reconciliation is used when Symba Payments needs a person to review the event before it is applied.
Every provider event has a direction:
Direction matters because it controls which transactions are reasonable matches. An inbound payment should not be linked to an outbound transfer.
A match candidate is an existing Symba Payments transaction that may belong to the provider event. Symba Payments compares details such as amount, reference, phone number, timing, and provider receipt information.
When one candidate is certain enough, Symba Payments can apply it automatically. When there is doubt, the event is shown for review.
Some provider payments are made to an account reference instead of a transaction that already exists in Symba Payments. In that case, Symba Payments can look for a loan account or savings account.
For inbound payments, choosing the account creates the matching transaction:
For outbound events, users choose from existing open transactions on the account.
Provider events can have these statuses: