Third-Party Delivery Reconciliation

With IQ BackOffice’s Customized Third Party Delivery Reconciliation Solution,  Restaurants Gain Enhanced Controls and Timely and Accurate Reporting.  

The Companies That We Keep

Food delivery is growing dramatically playing a more significant role in restaurants finances with the popularity of DoorDash, Grubhub, Uber Eats and Postmates.

Current Third-party delivery technology can capture and detail each sale  but restaurants need to integrate and reconcile the data from different channels for accurate reporting.

Visibility and control over delivery costs by type of service is critical to profitability.

Challenges With Third Party Delivery

Lack of visibility and control
A fast growing source of errors and fraud
Potential short payments from third party
Very complex and detailed
Must be timely
Time consuming
A high volume, low value activity
Labor effort and costs necessary to manually reconcile 3rd Party orders and payments
Need for proper controls over a growing proportion of restaurant sales revenue

Benefits of Third Party Delivery Reconciliation

Solution customized to your business rules
End to end automated solution from order to journal entry posting
System (POS, Accounting, Ordering, Third Party Delivery) Agnostic
Visibility into money owed and fees paid
Process control and mitigation of potential fraud
Identification of short payments from third party
Cost savings on reconciliation process

IQ Will Support Your Reconciliation with the Top Third Party Delivery Companies

Customer Places Order Directly Through the Restaurant or via a Third-Party Application
Card Payment Processed by Third-Party
Restaurant Point of Sale Receives Order (Automatically or Manually)
Restaurant Prepares Order for Pick-Up by Third-Party Who Delivers to Customer
Third-Party Delivery Partner Sends Payments, Taxes, Commission and Variuos Types of Fee Data to the Restaurant (at Contracted Frequency)
IQ BackOffice Reconciles Sales and Third-Party Delivery Reimbursements
IQ BackOffice Identifies Exceptions (e.g., Duplicate or Cancelled Orders, Short Payments, Money Owed, Fraud)
IQ BackOffice Routes Reports to Managers Based Upon Client-Specific Business Rules
IQ BackOffice Resolves Exceptions Based Upon the Client Business Rules and Tolerances
Client Posts Journal Entries to the GL

Third-Party Delivery Reconciliation Requires Tie Out to Over 34 Variables That Vary By Third-Party Delivery Partners

Sales

Taxes

Fees

Commission %
Amounts
Gratuity Amounts
Changed Tips
Processing Fees (bank cards)
Delivery Fee / Delivery Network Fee
Restaurant Service Fees
Merchant Services
Fuel Surcharge

Fees (continued)

Convenience Fees
Service Fees
Service Fee %
Minimum Service Fees
Marketplace Fee %
Marketplace Fee Amount
Ordering Software Fees
Bag Fees
Additional Service Fees

Discounts and Promotions

Adjustments

Cancelled / Refunded / Missing or Duplicated Order

Order Channel

Order Source

Fulfillment Type

Visibility and control over delivery costs is critical to profitability.

Common Exceptions

Order Number Does Not Match

Order is on POS but not on Delivery Company Report

Order is on Delivery Company Report but not on POS

Bank Reconciliation By Delivery Company Bank Deposit

IQ BackOffice Offers a Complete Third-Party Delivery Reconciliation Solution

for Services such as DoorDash, Grubhub, Uber Eats and Postmates

IQ Reconciles Revenue and Related Expenses Resulting in:

Visibility and control
Automation efficiency
Cash control
Fraud avoidance

IQ Routes/Resolves Exceptions Based on Business Rules

Identification of short payments
Identification of missed reimbursements, etc.
IQ Provides A Complete End-to-End Process using the captured data to complete the entire process including escalation and follow-ups