Spektrix Payments Card Reconciliation

When taking Card Payments, you’ll want to reconcile these payments to ensure the money you receive (also known as a payout) in your business bank account matches the data shown in your Reports.

This article is for Spektrix Payments Users in all regions. If you use Opayo, Worldpay, Authorize.Net or Moneris, read Reconciling Card Payments.

Before you read this article you should be familiar with:

• Introduction to Spektrix Payments
• How to Run a Report
• A Guide to Standard Reports in Spektrix

Before we guide you through the reconciliation process, we’ll explain Payouts. The process for Payouts may differ to your previous payment solution.

Payouts

Adyen payouts to your bank account are processed on a Net basis. The total that is paid into your bank will consist of your total sales minus any deductions (including Spektrix, Card Scheme fees, and Chargebacks). 

When will I receive Payouts from Adyen?

Payouts take place two business days after the sale. For example, Monday’s sales will be assigned to a payout batch on Wednesday.

The following table shows an example payout schedule with a daily payout frequency and a payout delay of two days.

Public Holidays

Payouts take place on a business day (Monday to Friday). During Public holidays any payouts will take longer. Here are some examples based on a payout of two business days, taking into account Public holidays.

Why should I reconcile Card Payments?

Reconciling your card payments ensures that the payments you’ve received match the payout to your business bank account.

Reconciling card payments can also help you identify and rectify any discrepancies such as manually authorised payments.

How often should I reconcile Card Payments?

How often you reconcile your card payments is entirely up to you. We’d recommend the following checks:

• Daily for the previous day's sales
• Daily for the previous date(s) that align with the current day’s payout batch
• Weekly for transactions in the previous week

TIP: Monthly reconciliations will contain a larger amount of transaction data, meaning it may be more difficult to find any discrepancies. We’d recommend daily or weekly checks.

How to reconcile Card Payments

In the example below, we’ll use reports in both Spektrix and Adyen to match the payout from February 15th with card sales from two days ago (February 13th).

TIP: To run Reports, you’ll need the Insights & Mailings User Role on your User Account. If you don’t have this, speak to the administrator in your organisation.

To reconcile Card Payments follow these steps:

1. Run the Payments & Activities Report for your chosen date range. In this example we’re using February 13th.
2. Look at the Merchant Summary. This will show the net card sales (sales minus refunds), split out by Payment Gateway (if there is more than one), and Sales Channel:

    

   

In this example, the credit card sales in Spektrix for Feb 13 total $10,870.00. We can check this against the total sales in the Adyen Essentials portal.

To access the Sales to Payouts Dashboard, follow these steps:

1. Login to your Adyen Essentials Dashboard
2. In the left menu, go to Finance > Sales to payouts:

    

   

3. Select a date range from the drop-down menu at the top right of the page. Choose the date that matches the date range of your Payments & Activities Report and click Submit:

    

   

4. You’ll see a Sales to payouts dashboard:

    

   

    

At the bottom of the dashboard, we can also see the gross value of the payout, before fees deducted. The Status column confirms that these were paid out on February 15th:

Payouts appear in two batches:

• Mastercard/Visa: Displayed as “Adyen Payout” on your bank statement.
• American Express/Discover: If you accept these cards, these will display as “Adyen Nv Payout”

REMINDER: Adyen payouts to your bank account are processed on a Net basis. The total that is paid into your bank will consist of your total sales minus any deductions (including Spektrix, Card Scheme fees, and Chargebacks). This may differ to your previous payment solution where payouts are processed on a gross basis and you're charged any fees separately.

Checking Fees and Reconciling Payouts

There are several reports available in your Adyen Essentials Dashboard that break down the fees. One example is the Aggregate Settlement Details Report.

Aggregate Settlement Details Report

The Aggregate Settlement Details Report shows details of all payout batches in a specific date range. You can use this report to validate funds received in your bank account against the day of sale.

Click here to view an example of the Aggregate Settlement Details Report.

For each settlement batch, the report shows credits, debits, and counts of transactions for all payment journal type entries. The entries are separated by each of the following properties:

• Merchant Account
• Store
• Terminal
• Payment method
• Journal type: Corresponds to the Type column in the report
• Creation date (the date of sale)

Using our previous example, we’ll generate the Aggregate Settlement Report for the date of the payout (Feb 15). The columns in this report will give you the details to reconcile the payout total to your gross sales from the day:

The columns are:

• Payment Method:  A breakdown by card type.
• Creation Date: The date of the sale (on the rows with “Settled” and a payment type) or the date of the payout (on the rows with “MerchantPayout”).
• Journal Type - Settled: Payments (broken down by card type) sent for settlement
• Journal Type - Merchant Payout: The amount that is paid from the payout batch to your bank account.
• Gross Credit: The gross transaction amount for each card type on the rows that display “Settled” in the Journal Type.

To reconcile this total against the values in the Sales to payouts and in the Spektrix Payments & Activities Report, add the values in the Gross Credit column. In our example, the total is $10,870, which matches the gross values on the Sales to Payouts dashboard.

• Net Debit: The amount sent from the payable batch, with fees removed
• Net Credit: The amount from the payable batch per card type, with fees removed

Using our example, if we add the Net Credit for Amex ($1664.96) and Discover ($252.41), we’ll get the total of the Merchant Payout for Amex/Discover ($1917.37).

• Bank/Card Commission: The total of fees withheld. This should be the difference between the gross and net amounts.

REMINDER: Adyen payouts to your bank account are processed on a Net basis. The total that is paid into your bank will consist of your total sales minus any deductions (including Spektrix, Card Scheme fees, and Chargebacks). This may differ to your previous payment solution where payouts are processed on a gross basis and you're charged any fees separately.

Adyen Settlement Details Report

The Adyen Settlement Details Report is automatically generated every time Adyen makes a payout to your bank account. 

It includes more information than the Aggregate Settlement Report, including individual payments that have been settled and paid out to you in one batch by Adyen. 

If you accept American Express and Discover, there may be two Settlement Reports generated, one for Mastercard and Visa, and one for American Express and Discover.

You can use these reports to see the costs of each transaction and validate the funds you received in your bank account.

Will I receive a Spektrix Payments invoice?

Spektrix will send you an invoice every month. In most cases the invoice you receive is for information only. The charges have already been collected before the funds are deposited into your business bank account.

To learn more, read Understanding your Spektrix Payments Invoice.

This article should give you the information you need to reconcile card payments with Spektrix Payments. To learn more about payments, visit the Manage Payments section of the Support Centre.