Your Settlement Statement tracks all funds for transactions processed through your payment gateway account. After funds enter your Settlement sub-account, all applicable transaction fees, and (if applicable) risk withholdings are assessed for your transaction processing. After the appropriate hold period, remaining funds are then sent to your merchant bank account. The entries on this statement reflect these events.
Note: For more information about risk withholdings for your account, see the Reserve Statement topic.
The following information is presented on the Settlement Statement:
Current Outstanding Balance – The amount of funds currently in your Settlement sub-account.
Date – The date of the statement entry.
Type – The type of action taking place for your Settlement sub-account. For example, Transfer.
Item – The specific item or action taking place. For example, Billing Transfer.
Item Description – Any additional description of the item. For example, Usage fees transfer to Billing Reserve.
Amount –The amount being transferred in to or out of from your Settlement sub-account. If this amount appears in parentheses, funds are being transferred out of the account, and the Account Balance is decreased by the same amount.
Account Balance – The current dollar amount in your Settlement sub-account. A negative balance indicates funds owed to the payment gateway. A positive balance indicates funds owed to you.
For individual Items, click on linked entries to view more details.
Click on a return or chargeback Item to display the returned transactions report for the associated batch.
Click on a charge/refund Item to display search results for the associated batch.
Click on a funding calculation to display the Settlement Funding Calculation for that day.
Click on a usage fees transfer to display the Fee Withholding Summary for batches eligible for billing as of the date and time the entry is created.
Tips for reading your Settlement statement:
Amounts indicated in parentheses, for example “(272.02),” indicate that funds are being moved out of your Settlement sub-account. The Account Balance is decreased by the same amount.
Amounts that are not enclosed in parentheses indicate funds that are entering your Settlement sub-account. The Account Balance is then increased by the same amount.
The Account Balance does not always represent the amount of available funds in your Settlement sub-account. All funds for transactions processed through your account are subject to a hold period. Funds are held in your sub-account and cannot be released to your merchant bank account until the hold period is complete. As a result, you may notice transfers to your merchant bank account that are less than the Account Balance indicated on your Settlement statement. The amount transferred to your bank account is the available balance, or funds that have completed the hold period.
For help understanding the Settlement Statement, please see the eCheck.Net Operating Procedures and User Guide.