Reconciliation Specialist

Job description

Role Overview As a Reconciliation Specialist in the Travel Accounting team, you will be responsible for reconciling travel-related financial transactions, ensuring accurate accounting treatment of MOR and non-MOR transactions , maintaining clean ledgers, supporting month-end close, and ensuring compliance with internal controls and accounting standards. You will be the key custodian of travel GL integrity by performing detailed reconciliation and variance analysis between internal systems (ERP/Travel platforms) and external statements (banks, merchant partners, travel suppliers). Travel industry reconciliation ensures that transactions — whether the company is the Merchant of Record (MOR) or merely facilitating bookings on behalf of clients — are reflected accurately in financial books, supporting financial reporting, cash management, tax compliance, and audit readiness. Key Responsibilities 1. Financial Reconciliation & Ledger Accuracy Perform daily, weekly, and month-end reconciliations of travel revenues and expenses across multiple ledgers and sub-ledgers (e.g., ticket sales, hotel bookings, travel card transactions, supplier fees). Reconcile MOR transactions , where Aspire is the merchant of record, ensuring revenue and cash receipts match bank and payment processor statements. Reconcile non-MOR transactions , where Aspire facilitates bookings but does not hold economic risk; validate that all agency billing, service fees and pay-through components are properly recorded as per accounting treatment. Compare internal travel system data (Snowstorm/ Sales force) with SUN 6 entries ensuring balances agree and investigate discrepancies. 2. Variance Analysis & Exception Resolution Conduct in-depth variance analysis on mismatched items between travel platform reports and financial records, identifying root causes (e.g., timing differences, foreign exchange variances, supplier chargebacks). Investigate and resolve breaks, unapplied cash, and unmatched transactions , escalating complex issues to Finance leads. 3. Payment & Bank Reconciliation Reconcile travel related bank accounts, merchant settlement accounts, and credit card settlement files to respective ledger entries. Validate payment gateway settlements (especially online bookings), ensuring amounts received align with amounts invoiced. 4. Supplier & Partner Statement Reconciliation Reconcile travel supplier statements (airlines, hotels, car rentals, tour operators) with accounts payable and recorded liabilities; ensure supplier invoices and payments are accurately matched. Support GST/VAT tax reconciliation for applicable countries, ensuring correct tax treatment during booking and settlement. 5. Journal Entries & Month-End Close Support Prepare and post accurately documented journal entries for discrepancies and adjustments arising from reconciliation activities. Assist with month-end close activities by ensuring all outstanding reconciling items are explained and documented. 6. Process Controls & Audit Compliance Maintain reconciliation schedules, audit trails, and documentation to support internal and statutory audits. Identify opportunities to improve reconciliation controls and efficiency , reducing manual intervention. 7. Cross-Functional Coordination Work collaboratively with Accounts Payable, Accounts Receivable, Treasury, Travel Operations, and IT/Data teams to resolve discrepancies and enhance data quality. Liaise with external partners (banks, payment processors, travel suppliers) as needed to clarify transaction records. Qualifications & Skills Education Bachelor’s degree in accounting, Finance, Commerce, or related discipline . Experience 3+ years of experience in accounting, financial reconciliation, GL support, or shared services — ideally in the travel industry or corporate finance environment . Technical Skills Strong understanding of accounting principles and reconciliation methodologies . Proficiency in MS Excel (pivot tables, VLOOKUP, reconciliation templates). Experience with ERP systems (e.g., SUN6 ) and travel accounting platforms. Familiarity with travel agency systems / payment settlement platforms and reconciling complex travel transactions. Soft Skills Excellent analytical and problem-solving abilities. Attention to detail and accuracy in complex financial data. Effective communication for cross-department coordination. Travel Reconciliation Context — MOR vs. Non-MOR In the travel industry, reconciliation requires special attention to how transactions are recorded: Merchant of Record (MOR) Transactions: The travel company (Aspire) is legally and financially responsible for processing customer payments. Revenue recognition, cash settlement with banks, and fee reconciliation must align with GL entries and bank statements. Non-MOR / Agency Transactions: The company acts as an intermediary , booking travel on behalf of clients. Funds pass through the company accounts but are ultimately payable to suppliers. Reconciliation focuses on confirming that payable amounts match supplier invoices and that fees earned are recorded correctly — without recognizing the total ticket face value as revenue.