Reconciliation

Follow the below steps to correctly reconcile card payments through PowerBoard

1. Go to 'Charges'

Login to the PowerBoard Portal and navigate to the Charges section.

2. Select Txns View Mode from the drop down option

3. Create a new template or update the existing template following the below steps:

1. If you are creating a new template, first select 'Default Txn' template from the list of templates in the drop-down list next to Settings.
   OR
   If you are updating the existing template, first select the existing template from the list of templates in drop down list next to Settings.
2. Click on Settings

3. In Txns View mode select transactions._id, transactions.amount, transactions.type, transactions.status, transactions.created_at, transactions.processed_at fields under 'Display in the CSV export'. You can select these fields under ‘Display in the ‘Txns’ page as well if you wish to display these fields in the Charges page.

4. In Charges View Mode select the fields you require in the report and make sure to include authorisation and customer.payment_source.card_scheme fields under 'Display in the CSV export' .

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Note

Total of 8 fields can be selected under 'Display in the Charges page’ or ‘Display in the Txn page’ column.

5. Click on Update to update the existing template.
   OR
   Input the template name and click on Save as new template if you are creating a new template.

4. Filter the transactions as below:

1. Apply a filter by selecting 'Selecting Filter' in the charges section.

2. Apply the below filters
   • Date - Processed At
   • From - <From {requiredDate} 05:30 PM> and To - <To {requiredDate} 05:30 PM>

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     Note

     If you want the report to reflect settlements made in a day, you will enter in the previous date and the settlement cut off time which is 5:30 PM AEST/AEDT to the next date settlement cut off time 5:30 PM AEST/AEDT.

     Please note that you select the time according to your geographical location. It should align with 5:30PM AEST/AEDT. For example, if you are located in Perth, the corresponding time you should select would be 3:30PM AWST.

   • Status - Complete, Refunded
   • Gateway Type – Mastercard (Mastercard and Payment Service)

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     Note

     Select the Mastercard option will ensure all transactions made from Mastercard, AMEX, Visa or digital wallets such as Google Pay and Apple Pay are included in the report as all these services are processed through the Mastercard gateway.

     APM transactions such as PayPal, Zip Pay and After Pay settle at different time and you need to confirm from individual APM provider and create separate reconciliation report depending on the settlement time.

   • Charge Type - Financial
   • Transaction Type - Sale, Refund, Capture
3. Click on Apply Filter

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Note

The filtered items will also include the transactions processed on that settlement date and immediately refunded on the same day. The filtered items will exclude all the failed transactions.

5. Download the filtered items

Click on the Download Report button and select All Filtered Items from the dropdown list.

If you wish to automate the report, follow the steps in Reports section here.

6. Open the downloaded file and filter the 'Customer.payment_source.card_scheme' column to exclude any AMEX charges

Select the ‘Customer.payment_source.card_scheme’ column and click on ‘Sort & Filter’ option.

Make sure only Mastercard and Visa are selected in the filtered options.

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Note

AMEX transactions may take between 3-5 business days to settle and will need to be filtered out when reviewing the CSV file.

7. Filter the daily processed transactions

1. Select the transactions.processed_at column and create a custom filter.

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Note

Use +10:00 for AEST Time Zone and +11:00 for AEDT Time Zone.

8. Calculate the settlement amount

There are 3 aspects of calculating the settlement amount.

1. Calculate direct sales
   To calculate the direct sales amount:

• Click on ‘Filter’ option for ‘Authorisation’ column and only select ‘False’.
• Click on ‘Transaction.type**’ column and select ‘sale’ and deselect any other options.
• Calculate the total sum amount and make a note of it.

2. Calculate Captured pre-auth funds
   (Disclaimer: This step can be skipped if the merchant is not processing pre-auth and capture)
   To calculate Captured pre-auth funds:

• Click on filter option for ‘Authorisation’ column then select ‘True’.
• Click on ‘Transaction.type’ filter column and select ‘Capture’ and ensure to deselect any other options.
• Calculate the total sum amount and make a note of it.

3. Calculate the refunds processed
   To calculate the refunds processed:

• Clear the filters
• Filter the ‘Transaction type’ column and select ‘Refund’ and ensure to deselect any other options.
• Calculate the total sum amount and make a note of it.

To calculate the total settled amount, add the previously totalled direct sale (1) and captured amount (2) and minus the total refunded amount (3). The value here should match with the settlement amount in your bank account.

Total settlement amount = Totalled Direct Sale + Captured Pre-Auth Amount – Total Refunds