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Reconcile standard reports

This section shows how to leverage standard reports to reconcile data across payments lifecycle in Commerce Center reporting or download the Standard Reports Reconciliation User Guide.

The following are the reconciliation reports using the standard reports:

Transaction reconciliation

To reconcile transaction level deposit or submission activity, you need to review the Deposit Detail report which provides transaction level details of successfully submitted or deposited transactions. 

Follow the steps for transaction reconciliation,

  1. Find transaction details: Find transactions in the report using Merchant Order Number. Use this report to verify all successful transactions processed against your own internal transactions report.
  2. Match with net total deposit amount: The summation of the Amount column should match the Net Total Deposit Amount calculated using your Deposit Summary Report (Step 1 of Net financial activity reconciliation) for the same date range. 
Deposit Details report
Note
  • If the Merchant Order Number is provided in the transactions, then:
    • The same Merchant Order Number will be available in the reports.
    • You can use the Merchant Order Number to tie all the pieces of a transaction together for reconciliation since it will persist across the payments lifecycle (sale, refund, and capture).
  • If the Merchant Order Number is not provided in the transactions, then:
    • J.P. Morgan's upstream payments system will enter its own value as the order number in the reports.
    • You can use the order number provided by J.P. Morgan to tie all the pieces of a transaction together for reconciliation since it will persist across the payments lifecycle.
Tip

You can use the Payment Transaction Identifier to search for the transactions using the Transaction Search feature on Commerce Center.

Net financial activity reconciliation

To reconcile total net deposit amount for settled transactions and find total cost of transactions incurred over a reporting period, you need the Deposit Summary report to get a high-level view of your successful deposits/submissions for a date range grouped by fee categories and payment methods.

Follow the steps for net financial activity reconciliation,

  1. Calculate your Net Total Deposit Amount: Filter the report on column Charge Category Code by SALE and REF values. Sale amount should be a positive value  and refund amount should be a negative value. To calculate Net Total Deposit amount , add all the values in the Amount column on the filtered results.
  2. Calculate your Total Fees and Adjustments Amount: Filter the report on column Charge Category Code by values other than SALE and REF. 
    • Add Interchange & Assessment Fees (IA) together. 
    • Add Processing Fees (PFEE) together. 
    • Add Chargeback adjustments to Fees and Adjustments.
      To calculate Total Fees and Adjustments Amount, add all the values in the Amount column on the filtered results. Total Fees provides insight of cost of transactions for that day, week, and month.
  3. Calculate your Net Financial Activity: Net Financial Activity = Net Total Deposit Amount – Total Fees & Adjustments Amount.
    Deducting Total Fees and Adjustments from the Net Total Deposits gives you the Net Financial Activity which identifies your deposit into your bank account. 
Note

Deposits are based on your funding instructions and dollar amounts shown may be affected by net funding or gross funding which may or may not match your deposits into your bank account.

In the following example with select columns from the Deposit Summary report, the Total Net Deposit Amount, Total Fees and Adjustments and Net Financial Activity calculation is represented.

Deposit Details report - Net financial activity reconciliation

Bank deposit transfer reconciliation

To reconcile your bank accounts by comparing bank statements and the net financial activity, you need the Deposit Transfer report which summarizes the fund transfers that have been created and are pending, on-hold, rejected or scheduled for credit to your bank account during the reporting period.

Follow the steps for bank deposit transfer reconciliation,

  1. Calculate your Fund Transfer Amount: Filter the report on Funds Transfer Category Description column by Pending Funds Transfer and Merchant Activity Date Range. Select the date that matches your date range from your Deposit Summary Report. To calculate Total Fund Transfer Amount , add all the values of the Amount column on the filtered results.
  2. Match it with your Net Financial Activity amount: Total fund transfer amount should match the Net Financial Activity amount calculated using your Deposit Summary Report (Step 3 of Net financial activity reconciliation) for the same date range.
Note
  • The Funds Transfer Effective date indicates when your deposits or fees is deposited or deducted from your bank account.
  • Effective Funds Transfer data shows what is being deposited in today’s bank deposits or deducted from your bank account based on the Funds Transfer Effective Date. 
  • You can reconcile your bank statements by verifying Effective Funds Transfers ( both credit and debit ) over a specific date range.
  • Deposits are based on your funding instructions and dollar amounts shown may be affected by net funding or gross funding which may or may not match your deposits into your bank account.

In the following example with select columns from the Deposit Transfer report, the credit and debit into the bank account are represented.

Bank Deposit Transfer reconciliation

Merchant fees and adjustment amounts breakdown

To find granular breakdown of the merchant fees by interchange, assessment, and processing fees assessed during a specified reporting period, you need the Charge Summary Report which identifies fees assessed for services that are posted during the reporting period.

Follow the steps for merchant fees and adjustment amounts breakdown,

  1. Find Fees breakdown: Pivot on columns Charge Category Code, Charge Subcategory and then select Settled Total Charges column to sum the values. This gives you the granular breakdown of the fees in each category. 
  2. Match with Total Fees and Adjustments Amount: The summation of the values matches the Total Fees and Adjustment Amount calculated using your Deposit Summary Report (Step 2 of Net financial activity reconciliation) for the same date range. 

In the following example with select columns from the Charge Summary report, the fees breakdown is represented.

Merchant Fees and Adjustments breakdown