Reconcile with daily settlement

This is a general process to reconcile a merchant account with daily settlement. If your acquirer is not integrated with Connect by CardCorp, obtain the transaction settlement details from the acquirer's reporting platform.

How you reconcile your merchant account will depend on your acquirer:

• Trust Payments: reconcile for each MID and settlement currency.
• PAYSTRAX: reconcile for each billing profile

For more details, see Settlement and payment per acquirer.

To reconcile with daily settlement, follow these steps:

1. Go to Payments

2. To filter the Transactions with advanced filters, near Filters, click (+)

   

3. In the advanced filters, for the Result, select Approved

4. For MID, for Trust Payments, if you have more than one MID, select one because the Funding Report is per MID. For Billing Profile, for PAYSTRAX, if you have more than one billing profile, select one because the Funding Report is per billing profile. Click Add filters.

   

5. For the date range, select the settlement day to the previous business day because the cutoff time for authorisations to clear is 22:15 hours UTC. See Settlement times. Download the CSV file.

6. If you accept transactions late at night, they may be cleared the next day, so use your spreadsheet program to filter the transactions with the Posting Date of the settlement day. If a transaction is not settled (the green checkmark symbol is not inside a circle), it may have been refunded on the same day and will not be charged to the customer.

   

7. Go to Reports > Funding Report. For Filters, select the Acquirer and MID; for the Date Range, select the settlement day. Click Apply.

8. Check the total amounts of the transactions from the Payments view to ensure they are the same as the Transaction Amount - Settlement on the funding report. Also, check the fees. Some fees may be charged immediately, and others may be charged at the end of the month. See Authorisation and chargeback fee timing.

   

9. Go to Reports > Payment Advice and filter to display the settlement day. Check the payment advice contains the correct amounts from the funding reports.

   

10. After your settlement delay, check the correct amount of each released payment advice has been paid into your bank account.