Reconcile with weekly settlement

This is a general process to reconcile a merchant account with weekly 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 weekly settlement, follow these steps:

Go to Payments
To filter the Transactions with advanced filters, near Filters, click (+)

Display transactions and open the advanced filters
In the advanced filters, for the Result, select Approved.
For Trust Payments, if you have more than one MID, select one because the Funding Report is per MID. For PAYSTRAX, if you have more than one billing profile, select one because the Funding Report is per billing profile. Click Add filters.

Filter by MID or billing profile
For the date range, select the dates from Tuesday to Monday, including the settlement week. Weekly settlement is from Tuesday to Monday, but transactions from late Monday night may be settled the following week. The cutoff time for authorisations to clear is 22:15 hours UTC. See Settlement times. Click Apply.

Filtered transactions for weekly settlement
Download the CSV file.
- If you accept transactions late at night, 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.
Go to Reports > Funding Report and for Filters, select the Acquirer and MID or Billing Profile, and for the Date Range, select the settlement week from Tuesday to Monday. Click Apply.

Funding report for weekly settlement
Check the total amounts of the transactions from the Payments view to ensure they match the Transaction Amount - Settlement on the funding report. Also, check the fees. Some fees may be charged immediately and others at the end of the month. See Authorisation and chargeback fee timing.
Go to Reports > Payment Advice and filter to display the settlement week from Tuesday to Monday. Check the payment advice contains the correct amounts from the funding reports.

Payment advice for weekly settlement
After the settlement delay, check the correct amount of each payment advice has been paid into your IBAN account.