Alaan provides two types of statements to assist with your monthly reconciliation: Provisional Statements and Final Statements.
Final Statement
The Final Statement is generated a few days after the month ends, allowing time for most expenses to clear. If any expenses are still pending at that time, Alaan will clear them internally, so you can close your books without waiting for further processing.
Provisional Statement
While waiting for the Final Statement, you can use the Provisional Statement to reconcile expenses. This statement includes all cleared transactions that haven't yet appeared in a final statement. It helps you track expenses for the current or previous month until the final statement is available.
Key Details about the Provisional Statement
Provisional Nature: The Provisional Statement offers an early snapshot of monthly transactions but only includes transactions cleared by the time you generate the provisional statement. Any transactions pending clearance will not be reflected. Typically, it captures around 90% of the month’s expenses.
Handling Missing Transactions: Some expenses may still be pending clearance when you download the provisional statement. These will not appear in the Provisional Statement but will be included in the Final Statement.
Learn more about uncleared transactions here.
Key Details about the Final Statement
By the time the Final Statement is issued, all expenses are generally cleared. However, for the rare exceptions where the merchant has not cleared the transaction with the network, changes (such as refunds or amount adjustments) will be reflected in the following month’s final statement.
Best Practices
Use Final Statements for final reconciliation, as they include all transactions and are not subject to change.
You can use the Provisional Statement on a more frequent basis and rest assured the transactions in the provisional statement are cleared and hence not subject to change. However, keep in mind that it may be missing some expenses that await clearing. Always double-check with the Final Statement for complete accuracy.
Feel free to reach out via our Help Channels if you require additional assistance.