Applies to: Broadlume Payments
Covers how to reconcile transactions in the Broadlume payments web portal to the deposit report and fee statement
Does not cover: Cyncly Payments, Cyncly Pay, or Payments Flex
Payments Portal Transaction Reconciliation
Your payments portal includes all the transactional reports necessary to reconcile against your bookkeeping software and run your business confidently.
NOTE: It’s recommended that you reconcile your transactions and deposits daily, or as often as you accept payments in a given week or month. This way any discrepancies can be identified and corrected immediately.
Matching your Deposit Report and Payments List for Daily Reconciliation
There are two key places to review in the payments portal when reconciling transactions.
Payments List: The payments list includes all transactions processed within a given date range. The total net amount listed at the bottom of the page when looking at a date range in the payments list should match the batch amounts listed in the Deposit Report.
Deposit Report: The deposit report is the total amount deposited into your bank account for a given date range, separated by batch. If you have multiple batches in a day, the total amount of each batch listed in the deposit report should match the total number stated in your payments list. Deposit & Reconciliation reports are expected to populate by 8pm CST the day following the transactions.
To Access Your Past Batch and Deposit Reports:
- Select Reports on the left in the main toolbar
- Select Deposit Report
- Select the date range for the batch you would like to review
- Click into the batch to see the transactions included.
There may be times your deposit report includes batches from previous days. The reason for this is that the batch may have been reported after the cut-off time for that day, so the batch was reported in the payments portal deposit report the next day instead. There can be multiple batches for a single day.
If There Is a Discrepancy:
If the deposit amount does not match what you have in receipts for the day or what you see in your payments list, you can use the deposit report to identify the transaction(s) causing the discrepancy.
The most common discrepancies are:
- A transaction is missing from the batch
- A transaction is included multiple times in the batch
To find the transaction causing the discrepancy, determine the amount of the difference between the reported deposit and the total net amount of payments recorded.
- Look through your payments list to see if there was a transaction for that amount
- Cross-reference your payments with the transactions listed in your deposit report
If you find a discrepancy, please contact payments@broadlume.com for assistance as soon as possible. For expedited assistance include the missing or duplicated transaction information. This way the support team can get started immediately on identifying and correcting the issue. Resolutions may be delayed if the support team has to identify the transaction(s) in question themselves.
Matching a Reconciliation Report to the Monthly Fee statement
In your portal you will receive one gross fee statement around the 8th of each month containing the fees for all the previous month’s transactions. The date will vary some depending how the weekdays fall and is set a few days after month’s end to allow for any straggling transactions to finish settling. Your statement should appear in your portal around the same time that any fees are debited from your account for easy reconciliation.
To identify all the individual transactions included in your monthly fee statement you can match it up with the reconciliation report. When pulling the date range of the reconciliation report please remember to look at the following business day after a new month is started and ended to account for the way batching and settling time frames work.
For example, if June's statement started June 1, you will set your search to start on June 2. If the last day of June was the 30th, which was a Friday, you will end your search window on the next business day, which was Monday, July 3rd. So the search parameters to match June’s transactions in the reconciliation report to June's fee statement would be June 2 - July 3.