Reconciling your Credit Card Bank Deposits
Reconciling your Credit Card Bank Deposits
As a regular part of the business route, many of our merchants will reconcile their credit card deposits against their credit card sales to ensure they're receiving proper payment from the processor.
We have a couple of different data sources that we encourage our merchants to use to reconcile their credit card deposits:
- Daily Sales Summary
- Daily Payments Report
- Quickbooks Online Integration
- Shogo Integration
Note: If reconciling your deposits on a daily basis, each deposit will be a single day's transactions except for Monday. Monday will be Friday and Saturday's sales combined. You can read more about the ACH deposit schedule here.
1. Daily Sales Summary
This report is accessible through the Arryved Portal (under the Analytics tab) or by receiving this report on a regular cadence from our report email service run by Rosie.
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2. Daily Payments Report
This report is accessible through the Arryved Portal (under the Reporting tab, then select Accounting). The report includes all types of payments such as cash, gift cards, credit cards (displayed as NMI), and credit card refunds. The report may be sent you via email on a daily or otherwise requested cadence if you reach out to support@arryved.com.
- Each row in this report will represent one day of payment data.
- The NMI column will generally represent your credit card transactions by day and should match the deposit in your bank.
- One exception to the NMI and bank deposit matching will be if you have had a refund entered through the Arryved Portal. A column will show you any refund values which will require you to subtract that value from the NMI value to get your deposit number to match.
3. Quickbooks Online Integration
If enabled, Arryved will send basic daily sales and payments into your Quickbooks Online account for daily accounting procedures, including deposit reconciliation. Refer to these articles to read more about the feature and configuration to determine if this is an option for you.
4. Shogo Integration
Arryved partnered with Shogo to provide an in depth API that allows us to send our sales and payments data to over to them. Shogo has then integrated with multiple accounting partners to provide a flexible solution depending on your accounting software choice.
- Shogo charges a small monthly fee for this service.
- Shogo will be your best resource to provide guidance on managing your daily reconciliation as this will be dependent on the accounting solution.
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