Reconciling payments funded to your bank account should be a straightforward process. There are some general points to consider before you start the process
Batch processing - The payments that are processed whether these are Ecommerce, MOTO or payment terminals are grouped into batches.
The batch time run is between 2 am and 2 am each day. This time is fixed and cannot be changed.
We would suggest your end of day is scheduled as close to these times as is feasible. However, is not critical as you can run a payment analysis report between any date and time.
Only settled payments are funded - If you believe payments are missing, check for payments may still show the status of ‘settling’.
On occasions, there are delays with the card networks processing the payments and this leads to payments rolling over into the following days batch. The status of payments can be obtained from MyST.
Before trying to reconcile the funding into the bank account, we advise that you are satisfied with the payments processed via the PMS and EPOS systems (if applicable) balance.
Net or gross settlement – for the purposes of reconciliation it doesn’t really matter if your funds are processed in gross or net. Net funding is more straightforward as the fees are taken at source, which will remove the additional step of reconciling the invoice for the acquiring fees.
However net settlement will mean that you need to use Omnipay more extensively, particularly the Daily Funding Report and the Merchant Payment Advice.
Quick overview of the GuestPay reporting tools:
There are two applications that provide reports on Guestpay transactions
- MyST
- This records all transactions that are processed via the gateway including pre-authorisations. It displays the transaction status such as pending and suspended etc.
- When using MyST to report on processed transactions make sure you use the correct report filters. When reconciling payments, the filters to be used are: Acquirers - STFS (for Ecom and MOTO transactions) and STFSPOS (for payment terminal transactions
Settlement Status - 100 Settled
Reports can either be viewed on the screen or output as a CSV or Excel file format
Please refer to the section MyST report filters below, for more information on report filters
- Omnipay/Ramtool
- This reports on payments that have been processed and will only include payments that are part of the card schemes on your Guestpay/Trust Payments agreement. Currently, these are Visa and Mastercard.
- Payment transactions in Omnipay are reported by MID. If Guestpay has been set up to process eCommerce, MOTO and Payment Terminal payments, there will be 3 MIDs. More complex configurations are likely to have more MIDS.
The reconciliation process
The following section describes a recommended approach to reconciling payments with your bank account. Make sure you have your Omnipay login credentials to hand.
- Ensure all payments recorded within Rezlynx are correctly accounted for and these agree with other third-party systems such as EPOS.
- Transactions can then be verified in MyST or this step can be skipped and the transactions can be viewed and reconciled directly in Omnipay.
- Logon to Omnipay https://www.omnipaygroup.com/ramtool . Please see the Omnipay Login Credentials article for more information on getting access to Omnipay.
- Select the MID to be reported on, by clicking on the dropdown box marked by the red arrow below
- Select Reports > Funding > Daily Funding.
The Daily Funding report details the value of the payments taken and the amount that is funded to the bank account.
Whilst this report can be created between a range of dates, it makes sense to create the report for a given day. Remember this report is calculated based on the batch times - 2am to 2am and that reports generated in Omnipay are per MID.
Select the Date > Click Search - the report is generated on the screen. At the top of the report, the total amount of payments processed can be seen (Total Accepted Transactions).
If the settlement for this MID is gross and there have been no other deductions or adjustments, the transaction amount should equal the Actual Payment funded to the bank account.
If this MID is settled net, the various acquiring fees will be seen on the report. In this scenario the Actual Payment will be the Total Accepted Transactions less any fees.
- The first task would be to reconcile and agree the Total Accepted Transactions with either:
- PMS End of Day Report (Bank Icon > Period End > Period End Archive)
- PMS Payment Analysis Report (Bank Icon > Period End > Payment Analysis)
- MyST report for that day.
Remember that payments run between 2am and 2am, so if your business trades around these times it may be easier to use the PMS Payment Analysis report or MyST Transaction Report. - If the totals between the PMS reports and Omnipay do not immediately reconcile, the transactions in the batch need to be checked. The transactions can be viewed by clicking on Total Accepted Transactions on the Daily funding report.
This will display a report similar to the below
Alternatively, the same data can be viewed and downloaded by using the Processed Transactions report, found under Transaction Activity > Processed Transactions.
Selecting the dates or date required will produce a report similar to the below
The advantages of using this report over data from the Daily Funding Report are:
- Data is easily downloaded and can be used in Excel.
- Can be used to check the payment fees on a transaction basis. The payment processing fees are in two columns on this report, Acct. Commission Charges and Additional Charges.
- If the MID that is being reported on is a payment terminal MID, the third column from the end of the right side of the report contains the terminal ID of the device that processed the transaction.
Once the transaction reconciliation has taken place. The payment can be crossed checked with the bank account by using the Merchant Payment Advice.
Each payment made has its own unique 11-digit reference number. This can be found in the column Bank Reference. This number will appear on your bank statement.
The columns Work Date and Value Date contain the date the funding was created, this is linked to the transaction date.
The Funding Date is the date the funds go into the bank account. Be aware that funds are only processed on working days, so after a weekend or a public holiday that funds go into the bank account on the next working day.
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