How to Navigate Your Rev Recon Dashboard for Smarter Reconciliation

Understanding your Rev Recon dashboard is key to streamlining your financial reconciliation process. This article will walk you through the essential numbers and insights displayed on the dashboard, helping you make sense of your sales variances, platform transactions, and bank reconciliation data.

Dashboard Overview

Your Rev Recon dashboard is designed to simplify and automate reconciliation by consolidating data from multiple sources, including:

• POS sales, which represent recorded transactions.
• Platform sales, which come from third-party sales channels.
• Bank data, which reflects actual payments received.

Rather than manually sorting through multiple spreadsheets and databases, the system processes and transforms this data into a monthly reconciliation view, giving you a clear picture of your financial health.

Would you like to explore how this dashboard can improve your workflow? Watch the full video for a step-by-step breakdown. https://www.youtube.com/watch?v=sjqMbWrLA4M

Key Metrics on the Dashboard

Your dashboard highlights critical sales and reconciliation figures, including:

1. Monthly Sales Overview

• Displays total sales figures for the month.
• Allows you to monitor trends and compare performance across different periods.

2. Platform vs. POS Sales Variance

• This metric shows the difference between platform-reported sales and POS sales recorded in your system.
• The dashboard also provides a variance percentage, indicating whether discrepancies are significant or minor.
• You can drill down into this variance at different levels—monthly, outlet-specific, or even daily—to pinpoint inconsistencies.

3. Bank vs. Platform Variance

• This figure compares the amount the platform is supposed to pay with the amount the bank actually receives.
• It helps identify missing payments, overpayments, or unexpected deductions.

Brand Performance Details

To better understand what’s causing variances, the dashboard provides a sales variance breakdown into three main categories:

• Discounts – Typically represent merchant discounts that may not have been captured in the POS sales data.
• Service Recovery – Includes refunds and compensations for customer issues.
• Other Breaks – Often occur due to errors in sales entry, such as:
  • Outlets incorrectly keying sales for different channels.
  • Misreported sales amounts.

Additionally, the dashboard highlights the Receivable vs. Received Amount, comparing:

• The expected net payment from the platform to the bank (after deductions like commissions and fees).
• The actual amount received in the bank account.

Outlet-Specific Insights

Your Rev Recon dashboard allows you to analyze reconciliation data at the outlet level, making it easier to identify underperforming locations and operational discrepancies.

• Quick Variance Identification – Sort outlets by negative values to see which ones are causing significant variances.
• Detailed Breakdown – The outlet view provides sales reconciliation and bank reconciliation insights.
• Filtering for Differences – Helps you focus on specific problem areas, such as discount variances, service recovery issues, and other breaks.

Tracking Receivable Amounts

Another critical aspect of reconciliation is ensuring that expected payments align with what’s actually received. The dashboard provides a clear view of:

• The platform's intended payment after accounting for fees and commissions.
• The actual bank deposit, allowing you to confirm if payments match or if there are discrepancies.
• Typical Payment Timelines, as payments may be processed a day later than expected.

Making Adjustments and Finalizing Results

To refine your reconciliation process, the dashboard allows for manual adjustments:

• Users can update figures and add remarks to indicate that results have been reviewed and confirmed.
• Once adjustments are made, the dashboard refreshes to reflect the revised variances.

Conclusion

Your Rev Recon dashboard is a powerful tool that automates reconciliation, highlights discrepancies, and helps resolve sales and payment variances. By understanding key metrics, outlet-specific variances, and receivable amounts, you can quickly identify and address financial inconsistencies—saving time and reducing errors in your reconciliation process.