Reconcile with Checkout.com
Last updated: June 18, 2024
Reconciliation is a crucial part of your business's bookkeeping process. You can reconcile your balances, fee categories, financial actions, invoices, and settlements with Checkout.com using the following reports:
- Balance Breakdown Report
- Balance Report
- Financial Actions by Date Range Report
- Financial Actions by Payout ID Report
- Payouts Report
- Settlement Breakdown Report
- Settlement Statement
Information
Sub-accounts are referred to as currency accounts in all reports.
You can use the Balance Report and the Financial Actions by Date Range Report to reconcile all monetary inflows and outflows for your sub-account balances. Ensure that both reports cover the same reporting period, by checking the date range suffix on the filenames.
- Filter the downloaded Financial Actions by Date Range Report by the Currency Account ID field for the sub-account you want to reconcile with.
- Check that the aggregate sum of the Holding Currency Amount field matches the difference between the sub-account's Opening Available Balance and Closing Available Balance in the Balance Report.
For example, for sub-accounts ca_qkvnzb2cudpezobj4epdcip3qa and ca_5t4grohxtacebfmuelz7mtsaem, this 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.
These values match the Holding Currency Amount field in the sample Financial Actions by Date Range Report for the respective sub-accounts for the same period:
The Balance Report breaks down the different categories of fees charged to a sub-account over a given period. Each fee category is further broken down by the Payment Method.
You can reconcile the financial actions that make up the fee categories using the Financial Actions by Date Range Report. For each row, the Action Type and Breakdown Type together map to a fee category field on the Balance Report.
- Filter the downloaded Financial Actions by Date Range Report by the Currency Account ID.
- Further filter by Payment Method, if applicable. For example,
Visa. - Filter by Action Type to include only
Authentication,Authorization,Capture, andVoidactions. - Filter by Breakdown Type to include only
Scheme Fixed FeesandScheme Variable Fees. - Check that the Holding Currency Amount field matches the relevant fee category field displayed on your Balance Report. For example, Card Payment Scheme Fees.
To reconcile the financial actions that make up a specific settlement payout, match the payout ID from the Payouts Report to the filename in the Financial Actions by Payout ID Report.
For example, payout ID 000G7HDD96SH on November 16 matches the filename financial-actions_{your entity ID}_20221116_000G7HDD96SH_1.csv.
The Payout Amount field for a settlement payout in the Payouts Report matches the sum of all values in the Holding Currency Amount field in the Financial Actions by Payout ID Report, rounded down to two decimal places.
For example, payout 000G7HDD96SH in this sample Payouts Report has the amount 1304.11 USD:
This amount matches the total Holding Currency Amount in the sample Financial Actions by Payout ID Report:
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Because payout amounts are rounded down, any remainder is carried forward to the next settlement.
The Payouts Report breaks down all fees charged and adjustments applied for processing payments with Checkout.com.
For each row on the Financial Actions by Payout ID Report, the Action Type and Breakdown Type together map to a fee category field in the Payouts Report.
To reconcile the financial actions that make up a fee category:
- Filter the downloaded Financial Actions by Payout ID Report by the Action Type field to include only
Authentication,Authorization,Capture, andVoidactions. - Filter the report by the Breakdown Type field to include only
Scheme Fixed FeesandScheme Variable Fees. - Check that the sum of the Holding Currency field matches the fee category amount in the Payouts Report.
You can reconcile all fees you've been charged during the month in your invoice to:
- Balances – Use the Balance Report.
- Financial actions – Use the Financial Actions by Date Range Report.
The report frequency must be monthly in line with invoices. You must generate the reports in UTC the same as Checkout.com invoices to avoid discrepancies.
Information
To change your report frequency to monthly, contact your account manager or [email protected].
Note
You cannot reconcile invoices to the Payouts Report or Settlement Statement because settlements paid out in one month can include fees charged in another month.
For example, a settlement paid out on March 1 includes fees charged on February 28. Your Settlement Statement for March therefore does not reconcile with your March invoice.
- Filter the downloaded Balance Report by the Holding Currency field to the currency of the invoice you want to reconcile with.
- Check that the total of all the fee categories matches the Total fees charged on your invoice.
- If your invoice includes tax, check that the sum of the Tax field and the total fees from your Balance Report match the Total incl Tax fee on your invoice.
- Filter the downloaded Financial Actions by Date Range Report by the Holding Currency field to the currency of the invoice you want to reconcile with.
- Filter the Breakdown Type field to all fees categories.
- Add together all the values in the Holding Currency Amount field.
- Check that the total matches the Total fees charged on your invoice.
Each settlement payout on your bank statement or transaction history is identified by the unique 12-character payout ID from the Payouts Report. For example, 000G7HDD96SH.
- For each payout ID on your statement, look up the Payout Amount field in the Payouts Report for the date range when you received the payout in your account.
- Check that each payout amount on your bank statement matches the amount in the report.