Merchant Service Reconciliation

Merchant Service Reports | Merchant Service Center

Note: This feature requires integration with QuickBooks Desktop Financial Software.

Merchant Service reconciliation makes it easy to match credit and debit card payments taken in Point of Sale to the bank deposits you make from your QuickBooks Desktop financial software and identify discrepancies and fees.

When credit and debit card transactions are sent from Point of Sale to QuickBooks Desktop, they are added to the Payments to Deposit window (by store/merchant number in a multi-store configuration) and settlement batch, helping you to match the transactions with your deposits and more easily identify and account for discrepancies and fees.

Requirements for the reconciliation feature:

• Using the QuickBooks Desktop POS Merchant Service to process card payments

• Integrated with QuickBooks Desktop Financial Software

• You have not changed the default payment types. These specific payment type mappings are required for the reconciliation feature.

To send transactions with reconciliation information to QuickBooks Desktop:

No action is necessary in Point of Sale to send reconciliation information to QuickBooks Desktop. If you meet the requirements listed above and conduct routine Financial Exchanges your transactions will show up on the Payments to Deposit screen in QuickBooks Desktop grouped by store/merchant number and batch.

Making deposits in QuickBooks Desktop:

This procedure is completed in QuickBooks Desktop financial software, and is summarized here. More specific instructions can be accessed from the Payments to Deposit window in QuickBooks Desktop by selecting Help.

1. Complete Financial Exchange with QuickBooks as part of your End of Day procedure.

Your payment card transactions update the Undeposited Funds balance in QuickBooks Desktop.

2. In QuickBooks Desktop, select Make Deposits from the Banking menu.

3. Select the payments to include in the deposit.

To facilitate reconciliation later, make your deposits by the transaction groupings. The transactions from Point of Sale are grouped by store/merchant number and batch for convenience.

Notes:

• After a transaction has been sent to QuickBooks Desktop (or from remote store to HQ), voiding of the transaction is not allowed. Point of Sale automatically  reverses the transaction in this case.

• Point of Sale Merchant Service reports are also split out by batch and, if applicable, store/merchant number.

• To help keep your settlement batches synchronized with other End of Day postings to QuickBooks Desktop, it is recommended you settle once per day before exchanging data with QuickBooks Desktop. In a multi-store configuration, settle at each remote store before Store Exchanges with HQ.