This portal helps Suppliers and Customers collaborate on invoices, bills, payments, credit memos, transaction statements and account reconciliation. The portal compares the records maintained by both parties and identifies differences, unmatched transactions and outstanding balances, helping businesses reduce reconciliation effort, resolve disputes and improve account accuracy.
Reconovo can be also used as a standalone invoicing platform, even when reconciliation is not required. Businesses can create and manage invoices, bills, credit memos, payments, and customer/vendor transactions from a single portal.
Suppliers and Customers can access the portal using their registered email address. Users can access only the information and functions permitted by their organization and role.
This portal is designed for users from across the world, including United States, Australia, Canada, United Kingdom, Germany, France, India, China, and other countries. Reconovo is designed as a global B2B platform and can support businesses that transact across different countries and currencies, subject to applicable laws, regulations and service availability.
Invoices can be recorded through direct entry in the portal as well bulk entries can be imported as via Excel upload. The invoice entered can be downloaded as PDF and also can be sent to the customer directly from the portal.
Once an invoice is recorded, the Customer can Log into the portal and approve the invoice or Click the approval link provided in the invoice notification email.
Invoice confirmation indicates that the Customer has received the related goods or services and acknowledges the invoice for the purpose of transaction processing and reconciliation.
No. Duplicate invoice numbers for the same Supplier are generally not allowed. This helps prevent duplicate processing and reconciliation issues.
No. An Invoice cannot be modified after approval.
The Supplier can:
Payment confirmation helps ensure that both parties agree on payment status and timing, reducing reconciliation differences and helping identify payments that may require further investigation.
The reconciliation report will identify the payment as an unmatched transaction until the corresponding transaction is identified, recorded or confirmed by the other party.
Credit memos can be entered directly in the portal. Also bulk entries can be imported through Excel.
Credit memos are automatically approved once saved.
No. Credit memo cannot be modified after entry.
Yes. Reconovo portal allows both Customers and Suppliers to record relevant transactions.
Yes. User can enter bill/invoice details directly into the portal.
Yes. You can send transaction-related notifications to the relevant Customer or Supplier for review, confirmation or approval. The recipient can access the relevant information through the portal or use the secure link provided in the notification.
The transaction can be edited at any time if the other party (Customer / Supplier) is not using Reconovo portal.
If the Other party (Customer / Supplier) is also using Reconovo portal, the editing options are as follows:
The portal compares records maintained by both parties and identifies:
An unmatched transaction is a transaction that exists in one party's records but has not yet been recorded or approved by the other party.
Reconciliation run can be done at any time.
No. Once a transaction is posted in Reconovo, it can affect the outstanding balance even if it is still pending approval by the counterparty.
Yes. Customers can view only the transactions that are pertaining to them. Similarly, Suppliers can view the transactions and account information they are authorized to access.
The ledger includes:
Yes. Users can export ledger information to Excel.
Yes. Authorized users can generate and send transaction statements to the relevant Customer or Supplier through the portal.
Reminder can be sent as and when required.
Portal-generated emails are sent from noreply@reconovo.com and are intended for notification purposes only. Replies to these emails are not monitored. For any questions, clarifications, or discussions regarding a transaction, user should contact the relevant Other Party (Customers / Suppliers) directly through email or other suitable communication channels.
This feature is currently not available. Development of accounting-system integrations is currently in progress and will be introduced in a future release. Until then, transactions can be recorded directly in the portal or uploaded using Excel.
Yes. Transactions can be recorded and reconciled in multiple currencies.
Where currency conversion is required, exchange rates (editable) and converted amounts are displayed separately.
Yes. Transaction allowances may apply depending on your Reconovo subscription plan. The applicable plan determines the number of transactions that can be processed during the relevant billing period. Details of the applicable transaction allowance are provided on the Pricing page and may vary by subscription plan.
Depending on your subscription plan and account configuration, you may need to upgrade your plan or purchase additional transaction capacity before processing additional transactions.
A transaction refers to a financial transaction and includes invoicing, Bills, Credit Memo and Vendor Credit.
No. Portal-generated emails, notifications, reminders, invitations and similar communications do not themselves constitute financial transactions for Reconovo subscription-limit purposes.
Users can access the portal using their registered email address.
Yes. Depending on configuration, approvals can be completed through the portal as well as by clicking secure approval links sent by email.
Reconovo uses appropriate technical and organizational measures designed to protect customer data and restrict access to authorized users. Transactions, approvals and confirmations are recorded with an audit trail where supported, providing transparency and accountability. Access to information is controlled based on user roles and organization permissions.
User retain ownership of the business and transaction data they submit to Reconovo, subject to the rights and licenses necessary for Reconovo to provide its services. Please refer to our Privacy Policy and Terms of Service for more information.
Users with a Premium subscription can access the Audit Trail to view the history and activities associated with their transactions. Audit Trail reflects the following activities:
Yes. User can at any time delete the data.
No. Reconovo is a collaboration, transaction-management and reconciliation platform. Users remain responsible for reviewing and approving transactions, maintaining accurate records, and making accounting, payment and other business decisions.
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