A Quick Guide to Bank Deposit Reconciliation
Reporting in the Invoice Cloud Biller Portal assists with reconciliation of your electronic payments received to the amount deposited in your bank account. To reconcile, compare the Total Deposits amount on the Deposit Reconciliation Report to the deposit amount on your bank statement.
The Deposit Reconciliation Report is located under the Virtual Terminal Menu in the Biller Portal and displays revenue amounts by payment type, along with the total deposit amount for each settled date displayed on the report. Data can be searched by date or date range and can be exported to Excel.
What if my deposit does not match what is reported on the Deposit Reconciliation Report?
If your deposit amount on your bank statement does not match the total deposit amount on the deposit reconciliation report, review the EFT/ACH Report and/or the Chargebacks Report to determine if the amount of the discrepancy is located on either report.
EFT/ACH Rejects Report
The EFT/ACH Rejects Report lists returned electronic check payments which are netted from the bank deposit on the date the item is returned. When an item displays on this report, the biller is notified via an ACH reject notification. This report can be exported to Excel.
The Chargebacks Report lists chargebacks (disputed customer-initiated credit card payments) which are netted from the bank deposit on the date the item is returned. When an item displays on this report, the biller is notified via a chargeback email notification. The Chargebacks Report can be exported to Excel.
What if I’m unable to locate the discrepancy after reviewing these reports?
Please open a helpdesk ticket with the following details:
- Deposit amount on your bank statement
- Total deposit amount on the Deposit Reconciliation Report
- Copy of the bank statement or a screenshot of the virtual bank statement with the last matching deposit and any deposits matching after the deposit in question