Settlements Report FAQs

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1 Settlements Report FAQs

What is a Settlements Report?

Many business owners and bookkeepers are finding it difficult to reconcile between the sales they’ve made and the bank activity they see in their bank statements.

A Settlements Report contains different financial events (batches, chargebacks, withholdings, etc.) that are grouped to reflect the estimated bank deposits.

Should I be looking at my Settlements Report?

All clients with more than one terminal will find this report useful. It is especially beneficial for those with multi-terminals and sales channels who are operating over weekends.

What is the difference between the Settlement Date and Activity Date?

Settlements Date refers to the date of the bank deposit.
Activity Date refers to the date when the batch was sent to the processor (usually the date of the sale) or the activity formed.

Why is the Settlements amount different than the Batch amount?

In some cases, the batch breaks into two or more due to rejected transactions or risk withholdings.

Where can I access my Settlements Report?

Your settlements report can be found in Dashboard>Deposits>Settlements.

I’ve been using my Settlements Reports with SpotOn for awhile. What’s changed?

SpotOn’s most recent update has improved the certainty of estimated bank deposits.

What’s coming in the next version of this Report?

The next version will allow activities to be grouped by the sale date to make the reconciliation process even more manageable.