Q. Reconciling; Payments, Settlements, Depostits, etc.

[William Davis]

Is there any easy way to reconcile website payments (Payment Gateway, PayPal/Fees, etc.), Returns, Settlements, Deposits, etc.?

There as to be a method to automate this process.

[William Davis]

No one knows of a method or tool to automate the Reconciliation of Transactions across all channels for revenue "leakage"?

Examples:

Sales across all channels (e.g.: Website Orders, Locations, Mobile, Digital Wallets, Fees, Discounts, Taxes)
Credits, Returns, Taxes
Bank Deposits/Debits
Payment Gateway
Merchant Account

Main problem is that some of these sources do not seem to share a common key (order/transaction number). To make matters worse, Digital Wallets transactions such as PayPal deposits are net sums which makes difficult to match deposits.

[Rick Wilson]

I don't know how you'd do that (at least not in the ecom platform) it's going to require a proper accounting system and reconciliation. Miva for example has no way of being aware if your merchant account keeps the interchange fee on a refund, or even what your interchange fee is, etc...

[William Davis]

I don't know how you'd do that (at least not in the ecom platform) it's going to require a proper accounting system and reconciliation. Miva for example has no way of being aware if your merchant account keeps the interchange fee on a refund, or even what your interchange fee is, etc...

Rick Wilson , thanks, it makes perfect sense. Do you know of any solutions that address this issue?

[Rick Wilson]

I think there are plausibly many solutions, it could certainly be done in QuickBooks manually, I do think StoneEdge does have features around this as well.

[William Davis]

I think there are plausibly many solutions, it could certainly be done in QuickBooks manually, I do think StoneEdge does have features around this as well.

Thanks!