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How to balance and reconcile online payments

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The merchant services provider for ASAP, ConnexPoint, deposits settlement funds into your bank account on a daily basis. Payments are grouped into settlements (also called batches).

IMPORTANT: Because a payment can take anywhere from 24 hours up to 3 days to process, payment dates will be different than the settlement date. This is important to know when you are reconciling settlement payments. For example, your settlement deposit may show January 15 but can include payments for January 12, 13, 14. Therefore it is important, when reconciling, to understand the exact dates of the payments included in your settlement deposit.
  • Online transactions include credit card payments and eChecks.
  • Daily batch processing ends at midnight in your time zone.

Two-Step Process

  1. Reconcile ConnexPoint Bank Settlement Report to your bank statement.
  2. Reconcile ConnexPoint Bank Settlement Report to the ASAP Transaction Report.

Reconcile ConnexPoint Bank Settlement Report to your Bank Statement

  1. Run your ASAP Bank Settlement Report.
    1. On the Navigation menu, click View Reports.
    2. Under the Financials section, click Bank Settlement Report.

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  1. In the report header, enter the desired date range.
NOTE: The dates you enter are settle dates, not transaction/payment dates. So be sure to enter a range that covers for the full amount of days you are reconciling. The way to tell is to expand the Settle Date to see each payment date included (Click the blue arrow next to the settle date to expand it.)
  1. Match each deposit to your bank account using the Deposit Total column.
NOTE: If you deposit funds into multiple bank accounts, click the filter bluefilter.png in the Deposit Account column header and select the the applicable account.
  1. Filter your bank deposits by RevTrak and compare your bank deposit total to the Bank Settlement Report's Deposit Total.

Reconcile ConnexPoint Bank Settlement Report to the ASAP Transaction Report

Remember that settle dates can contain several payment transactions and those dates will vary depending on when the payment was processed.

  1. Run the Bank Settlement Report for your desired date range.
    1. On the Navigation menu, click View Reports.
    2. Under the Financials section, click Bank Settlement Report.
    3. In the report header, enter the desired date range.
TIP: Remember, the dates in the Bank Settlement Report are the dates funds are sent, not the dates payments were made. Mondays will include payment dates from Friday, Saturday, and Sunday. Also, keep in mind, settlements can take 1-3 business days to show up on your bank statement.
  1. In the report results, expand the first and the last Settle Date to find the earliest and latest payment dates within your date range.
NOTE: If your earliest settle date is a Monday, there will be three settle dates on that Monday. Expand all three settle dates as the earliest payment date could be in any of the three settle dates. The same holds true if your latest settle date is a Monday.

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  1. Note the dates of the earliest payments and the latest payments, as you will use these dates in your ASAP Transaction Report.
  2. Run the ASAP Transaction Report using the earliest and the latest payment date.
    1. Select Between Days.
    2. Click the calendar and enter the earliest payment date, and the latest payment date. Reminder, the settlement cutoff time for ConnexPoint is midnight in your time zone.
    3. For Payment type, select Only Valid Bank. This filters for credit card and e-check transactions.
    4. Click Filter.

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The number displayed in the Total field of the SUMMARY DATA section should match the Gross Total in the Bank Settlement Report.

To see settlement details, export the Bank Settlement Report into Microsoft Excel or a CSV file.

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NOTE: The report may take a few seconds to open.

Bank Settlement Report Definitions:

  • Settle Date: The date the deposits are batched and sent to your account. 
  • Deposit Account: The bank account the “Deposit Total” funds have been deposited into. If depositing money into more than one bank account, click the filter icon to select and view deposits for a specific bank account.
  • Sub Total: Item total.
  • Service Fee Total: The total fee amount you are collecting from payers at checkout to offset processing fees.
  • Gross Total: Total deposit including service fees. Sub Total + Service Fee Total.
  • Debited Processing Fees: The fees charged for processing online transactions. (If you are charged monthly, this column will display $0.0 and you will be charged a monthly total sum.)
  • Deposit Total: Deposit amount posting to your bank account. Deposit Total = Gross Deposit - Debited Processing Fees.
  • Estimated Fund Date: The approximate date the deposit posts in your account. Please note, if the “Estimated Fund Date” is a weekend or holiday, the funds will show in your bank account the following business day.
  • Date: The date the transaction was entered. Found under the Activities tab.
  • Type: The type of transaction, for example payment or refund. Found under the Activities tab.
  • Reference: A ConnexPoint reference id. Found under the Activities tab.
  • Invoice: The invoice number for the transaction. Found under the Activities tab.
  • Name: The name on the card or checking account. Found under the Activities tab.
  • Account Type: The brand of the card used. For example, Visa, Amex, eCheck. Found under the Activities tab.
  • Last 4. The last 4 numbers on the card or checking account. Found under the Activities tab.
  • Product Code: Your product code for the item. Found under the Products tab.
  • Account Code: Your account code for the item. Found under the Account Codes tab.

Match each deposit to your bank account using the Deposit Total column.

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