Reconciliation Detail Report

The Reconciliation Detail report lists every transaction in which reconciliation is owed because the stored value was purchased at one location but redeemed at another.

Things to know:

• This report is only available to accounts that have reconciliation enabled. For information on how to set up reconciliation, read more here. 
• Reconciliation records are created each time a ticket is closed
• If a gift card, package, or membership was purchased at location A and used at location A, no reconciliation will take place.  
• If a service is paid for partially in cash/card and partially in credits, we will only show the portion that was paid for with credits on the reconciliation report.
• If there is a refunded product or service, we will credit reconciliation in the period the refund happens and NOT the period in which the original transaction took place.
• The parent account can see transactions from all locations
• When viewing the report from the parent level, all amounts are black, and there is no total at the bottom of the report.
• The child accounts can only see transactions from locations where they are the source owner (where the membership/package/gift card was bought) or destination owner (where the membership/package/gift card was used).
• When viewing the report as a franchisee (child level), the amount columns will show which funds are incoming (black) or outgoing (red), and the total will correlate with the net deposit or payment for the same time period in the Reconciliation Settlement Report. 
• When reconciling this report with the Reconciliation Settlement report, you must account for a specific date overlap and perform a three-step calculation to ensure your totals match your bank deposits perfectly.
  • Understanding the Settlement Date Overlap: To ensure no transactions are missed due to late-night processing or timezone cut-offs, the Reconciliation Settlement report includes a one-day overlap with the previous period.
  • The Logic: The start date of the current settlement period is always the final day of the previous period. Example: If you are reconciling the month of December, the report range will automatically be set to Nov 30th – Dec 31st.
  • How to Reconcile the Totals: To find the final settled amount that should match your bank deposit, follow this manual workflow:
    • Export the Data: Download your report as an Excel or CSV file.
    • Summarize Locations: Calculate the grand total for the Purchase Location column and the Destination Location column separately.
    • Calculate the Net Settlement: Use the following formula to find your final total: {Total Destination Location} - {Total Purchase Location} = {Final Settled Amount}
      

To access your Reconciliation Detail Report:

1. Navigate to Dashboard
2. Select the Reports tab
3. Under the company section, select the Reconciliation Detail Report

When the report opens, once you've selected your desired filters, click on the UPDATE button to generate the data. On the top right of the report, you have the option to download the report as a CSV, PDF, or print version. 

Report Filters 

Report Columns

For more information, contact us at support@mytime.com or (385) 233-6964.     

Related Articles: 

• Reconciliation Setup
• ACH Fee for Reconciliation
• Configure Bank Account for Reconciliation
• Reconciliation for Packages  
• Reconciliation for Gift Cards  
• Reconciliation for Memberships  
• Reconciliation Settlement Report
• Reconciliation Payout Mechanism
• Reconciliation Failure Notification Emails