Payment Reconciliation

Reconciliation

Reconciliation is the process for ensuring the accuracy and completeness of your business’s financial transactions.

Stronghold provides a Settlement Detail Report and Activity Detail Report that allow you to reconcile transactions at a granular level. These reports provide line-item level detail for the Settlement Report.

Settlement and Activity Detail Reports

The reports exhibit the same events, but permit filtering based on different date ranges.

Use the Settlement Detail Report to filter and view settlement details based on a selected projected Settlement Date range (i.e., transaction date + 3 business days).

Use the Activity Detail Report to filter and view activity details based on a selected Activity Date range (e.g., capture date for transactions).

The Settlement Detail Report and Activity Detail Report both contain the following fields:

A. Activity Date: the date an activity occurs. For transactions and tips, this is the capture date. For adjustments, this is the adjustment date. For all other activity types (refunds, promotions, etc.) this is the processing date.

B. Intended Merchant Settlement Date: the expected date funds will reach the merchant’s bank account. Please note: this date is a projection and may be subject to slight variations.

C. ID Internal: Stronghold internal ID for an event

D. ID External: the External ID for an event, if applicable. For example: the order ID that corresponds with the POS or E-commerce software provider integrated into Stronghold.

E. Associated With Internal: used to indicate an event that is internally linked to another event. For example: the original charge for a tip or reversal.

F. Associated With External: External ID for an event that is associated with this event. For example: the original charge for a tip or reversal.

G. Type describes the categories for these events (Column G)‍

1. Charge Settlement: these charges settled successfully
2. Tip Settlement: total tips settled successfully
3. Charge Collection Settlement: charges previously in “Attempting Collection” that have successfully settled
4. Tip Collection Settlement: tips previously in “Attempting Collection” that have successfully settled
5. Charge Reversal: refunds processed back to the customer and returns
6. Tip Reversal: tips associated with a refunded or returned charge
7. Adjustment: miscellaneous adjustments
8. Merchant Financing Disbursement: disbursement of funds for Merchant Financing
9. Merchant Financing Repayment: repayment of funds for Merchant Financing
10. Promotional Credit Deduction: merchant contribution to promotional credits  
11. Promotional Credit Stronghold Contribution: Stronghold contribution to promotional credits
12. PlatformFee: Software subscription fees

H. Gross Amount: the gross amount before any Stronghold fees are taken into account (Total Amount - Convenience Fee = Gross Amount)

I. Net Amount: the amount after Stronghold fees are taken into account (Gross amount - Fee = Net Amount)

J. Fee: the fees Stronghold has taken out from the Gross (Gross Amount - Net Amount = Fee)

K. Convenience Fee: convenience fee charged by the merchant to the customer (end consumer)

L. Related Customer ID: ID of the customer

M. Related Customer First Name: first name of the customer

N. Related Customer Last Name: last name of the customer

O. Settlement ID: ID of the settlement batch

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Downloading Settlement Report and Activity Detail Report

Go to Reports

Select Time Frame

The Settlement Details Report filters on the Intended Merchant Settlement Date and the Activity Details Report filters on the Activity Date.  There are two ways to chose the data range for your report.

Select by Month

Or click "Advanced - Date range" to select by Custom Date Range

Download Report

Click Download report to download a .csv file of the report