There's a processing period between the time an online payment takes place in Amilia, to when a bank transfer (EFT) is sent from your merchant account to be deposited in your organization's bank account. As a result, you'll notice that payment dates in Amilia's payment reports don't necessarily match up with the dates they were deposited in the bank.
Our 5 step process will help you identify which dates to use when pulling your reports to reconcile your monthly statements with your online payments.
How it Works
What are the A, B & C Dates?
There are 3 sets of dates needed to reconcile your monthly statements:
Dates A1 & A2: When payments were made in Amilia. These dates are used to pull your payment reports.
Dates B1 & B2: When the payment processor transfers money from the merchant account to your bank account. These dates are used to generate your Netbanx settlement report.
Dates C1 & C2: First and last days transfers were deposited in your bank account. These dates are found in your monthly bank statement.
Step 1: Find the C Dates on your Bank Statement
You need to identify the first (C1) and last (C2) days your payment processor deposited payments to your account during the month.
Ex: C1- April 2nd C2- April 30th
Step 2: Use your C Dates to Find your B Dates
You'll need to know the first (B1) and last (B2) day the payment processor transferred payments to your bank account. To find out, go to the Accounting and finance>Merchant account subtab, click on the Filters button and select a payment method (credit card or eCheck). Next, click on the blue icon to top right of the page to download the Netbanx settlement report.
The Transfer date range will be FROM: C1 minus 5 business days TO: C2
👉 We deduct 5 business days from our C1 date because transfer dates happen a few days earlier than the actual deposit date to your bank. These delays are due to processing time, holidays and/or weekends.
In the example below, the C1 date is April 2nd. This means our report will start on March 26th. The end date will be the C2 date which is April 30th.
Locate the first and last transfer amounts under the EFT column. The B Dates will be the transfer date for your first (B1) and last (B2) deposit.
Step 3: Generate a New Report Using your B Dates
Once you have the B1 and B2 dates from the Netbanx settlement report, generate it again using the correct date range (e.g. March 29th to April 27th).
The first transfer amount should be visible at the top of the list and your last transfer amount at the bottom.
Step 4: Click on the Transfer Amount to Find your A Dates
You'll also need to generate your payment reports. But which date range to use?
To find out, you need to identify the A Dates. These dates pertain to the first (A1) and last (A2) day that payments were made in Amilia. This information is available by clicking on the first and last transfer amounts on your Netbanx settlement report.
📆 Finding A1:
Under the column Transfer amount (EFT), click on the first transfer.
This jumps to a tab that gives details on each payment within that transfer.
Note the Date of Transaction of the first payment on the list. This is the A1 Date!
📆 Finding A2:
Return to the Summary Tab on the report.
Under the column Transfer amount (EFT), click on the last transfer.
Note the Date of Transaction of the last amount on the list. This is the A2 Date!
Use the A1 and A2 dates (e.g. March 27th to April 26th) to generate your payment reports.
Step 5: Compare the Payment Summary with your Netbanx Settlement Report
In the Reports tab, download a Payment summary report using the A1 and A2 dates. You now have everything you need to reconcile.
To be assured you are using accurate dates for your reports, you can:
📆 Confirm your B Dates:
The Transfer amount (EFT) should match the total amount deposited on your bank statement (for either credit card OR eCheck).
📆 Confirm your A Dates:
On the Payment summary report, refer to the amount under the Payment column which applies to the mode of payment you are reconciling.
It should match with the Settlement amount on your Netbanx settlement report.
👉 Settlement and transfer amounts differ depending on whether you had to credit and/or refund any online payments.
What if my reports don't match?
Begin by checking the list of payments in the last deposit on your Netbanx settlement report and compare it to your Payment summary. It may be that a payment was batched in a bank transfer that took place outside the date range of your payment report. Adjust your date ranges accordingly.
A deposit differing by a few cents in your Netbanx settlement report vs your bank statement is caused by rounded taxes as Amilia and the processor may round them up differently.