Reconcile with Checkout.com
Last updated: October 2, 2024
Understanding the exact payout amounts settled to you is a crucial part of your business's bookkeeping process. Checkout.com’s Payouts Report provides you with the confidence that you have been settled the correct amounts.
Checkout.com provides different kinds of reports, enabling you to:
- Reconcile between payments or payouts and fees
- Reconcile between payouts settled to you and your bank statement
- Manage your balances
You can use the following reports to reconcile:
- Balance Breakdown Report
- Balance Report
- Financial Actions by Date Range Report
- Financial Actions by Payout ID Report
- Payouts Report
- Settlement Breakdown Report
- Settlement Statement
Understanding the exact payout amounts settled to you is a crucial part of your business's bookkeeping process. Checkout.com’s Payout Report provides you with the confidence that you have been settled the correct amounts.
To reconcile your bank statements and the Payouts Report, first identify a Checkout.com payout on your bank statement by the unique 12-character ID also shown in the report. For example, 000G7HDD96SH.
Look up the Payout Amount field within the corresponding Payouts Report for the date range during which that payout to your bank account occurred. Then simply reconcile between each amount displayed on your bank statement or transaction history and the payout amounts shown on your Payouts Report.
If Checkout.com has paid out the correct amounts to you, then the two values will reconcile.
Using the Payouts Report and the Financial Actions by Payout ID Report together will allow you to reconcile between a specific payout and the financial actions that make up the payout amount.
First, match the unique Payout ID for a given payout on the Payouts Report with the corresponding Financial Actions by Payout ID Report.
For example, for a payout ID of 000G7HDD96SH on November 16, 2022, the corresponding Financial Actions Report will have the filename financial-actions_{your entity ID}_20221116_000G7HDD96SH_1.csv.
The Payout Amount for the given payout on the Payouts Report will match the sum of all values in the Holding Currency Amount column with the corresponding Financial Actions by Payout ID Report.
For example, this sample from a Payouts Report shows payout 000G7HDD96SH with the amount of 1304.11 USD:
The Payout Amount shown will reconcile with the Holding Currency Amount column on the corresponding Financial Actions Report for the payout 000G7HDD96SH, once rounded down to two decimal places.
For example, in the following table, the total amount of the values in the Holding Currency Amount column reconciles with the payout amount of 1304.11 USD:
Information
Because payout amounts are rounded down, any remainder is carried forward onto the next payout period.
The Payouts Report features several breakdown columns for fees and adjustments applied while processing payments with Checkout.com.
For a given row on your Financial Actions Report, the combination of the Action Type and Breakdown Type will map to a fee category field on your Payouts Report.
Information
For more information on the mapping between Action Type, Breakdown Type, and the fee category fields on the Payouts Report, see our Breakdown types page.
To reconcile between a fee category on your Payouts Report and the financial actions comprising it, filter the Financial Actions Report by the Action Types and Breakdown Types related to the fee category. The sum of the Holding Currency Amount will then reconcile with the amount shown for the fee category.
For example, to reconcile between Card Payment Scheme Fees for a given payout on your Payouts Report and the associated financial actions on the Financial Actions by Payout ID Report:
First, using your Financial Actions Report, filter by Action Type to include only authentication, authorization, capture, and void actions.
Then filter on Breakdown Type filtered to include only Scheme Fixed Fees and Scheme Variable Fees.
The sum of the Holding Currency column will reconcile with the Card Payment Scheme Fees displayed on your Payouts Report.
Using the Balance Report and the Financial Actions by Date Range Report together will allow you to reconcile all monetary inflows and outflows for a given currency account.
For the reports to reconcile, ensure that your Balance Report and Financial Actions Report cover the same reporting period. This is denoted by the date range suffix on the filenames.
Using the Financial Actions by Date Range Report, filter by Currency Account ID for the currency account you are trying to reconcile with. The aggregate sum of the Holding Currency Amount then reconciles with the difference between the Opening Available Balance and Closing Available Balance of the currency account shown on the Balance Report.
For example, for the given currency accounts ca_qkvnzb2cudpezobj4epdcip3qa and ca_5t4grohxtacebfmuelz7mtsaem, the truncated sample Balance Report shows a difference between the Opening Available Balance and the Closing Available Balance of 850.70 GBP and 1304.11 USD, respectively.
This value will reconcile with the Holding Currency Amount shown on the Financial Actions by Date Range Report for the same period. To reconcile against a specific currency account, simply filter the Financial Actions Report by the Currency Account ID.
The Balance Report features several breakdown columns for the total fees applied to a currency account over a given period. Each payment-related fee category is broken down further by the Payment Method.
For a given row on your Financial Actions Report, the combination of the Action Type and Breakdown Type will map to a fee category field on your Payouts Report.
Information
For more information on the mapping between Action Type, Breakdown Type, and the fee category fields on the Balance Report, see our Breakdown types page.
You can reconcile between a fee category on your Balance Report and the financial actions it comprises. First, filter the Financial Actions by Date Range Report by the Currency Account ID, Action Type, Breakdown Type and Payment Method (if applicable) related to the amount you are trying to reconcile on your Balance Report. The sum of the Holding Currency Amount column then reconciles with the amount shown on the Balance Report.
For example, to reconcile between Card Payment Scheme Fees for Payment Method: Visa for a given currency account on your Balance Report and the associated financial actions on the Financial Actions Report over the same period:
First, using the Financial Actions Report, filter by the Currency Account ID.
Then filter by the Payment Method if applicable.
Then filter by Action Type to include only authentication, authorization, capture, and void actions.
Then filter on Breakdown Type filtered to include only Scheme Fixed Fees and Scheme Variable Fees. The sum of the Holding Currency column will reconcile with the Card Payment Scheme Fees displayed on your Payouts Report.
To reconcile all fees charged during the month, you can use your invoice together with either of the following:
You cannot reconcile your invoice with the Payouts Report or Settlement Statement because settlements made in one month may include fees charged in another month. For example, a settlement made on March 1, 2023 includes fees charged on February 28, 2023. The Settlement Statement for March 2023 therefore does not reconcile with the March 2023 invoice.
Note
Checkout.com invoices are in UTC. To avoid discrepancies when reconciling, ensure that you generate reports in UTC.
Before you reconcile, ensure that your report covers a monthly period. To do this, ask your Account Manager or our Support team to set the report frequency to monthly.
- Go to your Financial Actions by Date Range Report.
- Filter the Holding Currency column to the invoice currency you are reconciling.
- Filter the Breakdown Type column to all fee related types. To learn which types are fees, see the Breakdown types documentation.
- In the Holding Currency Amount column, add together all of the values. The total sum should match with the value of the Total fees charged on your invoice.
Before you reconcile, ensure that your report covers a monthly period. To do this, ask your Account Manager or our Support team to set the report frequency to monthly.
- Go to your Balance Report.
- Filter the Holding Currency column to the invoice currency you are reconciling. The total sum of all the fee categories (including scheme, interchange, premium, and gateway fees) then reconciles with the Total fees charged on your invoice. To learn what types are fee categories, see Breakdown types.
- If your invoice includes tax, then add the Tax column and the fees of your Balance Report in order to reconcile with the Total incl Tax fee on your invoice.