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End of day reconciliation with TimelyPay terminal

  • Updated

End of day reconciliation has never been easier when using a TimelyPay terminal!

In this guide, we will cover how to reconcile your TimelyPay payments using:

  1. TimelyPay transaction history
  2. Cash up

TimelyPay transaction history

TimelyPay transaction history page contains all the information you need to easily track, view and reconcile your TimelyPay transactions, including the payments taken via your terminal.

  1. To view the TimelyPay transaction history page, click Setup > TimelyPay then click TimelyPay transaction report. You can also access this page from Reports > Financial reports.

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2. From the transaction history page, you can view transactions from TimelyPay by filtering based on:

  • Your payout period
  • A specific date range
  • A specific location (if you have multiple locations)

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Understand your TimelyPay transactions

Each transaction will show the following:

    • Transaction date

    • Transaction type (whether it was a Terminal payment, Online payment, Cardless checkout, Refund or Dispute)

    • Associated customer for that transaction
    • Amount charged from your client

    • TimelyPay fee rate applied to each transaction

    • The actual processing / application fee
    • Your net payout
    • A link to invoice for that transaction
    • Location where the transaction happened (if you have multiple locations)

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We also show the following totals for your selected transactions:

  • Total transaction amount
  • Total fees
  • Total refunded
  • Total net payout

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You can export a .csv file of your selected transaction history by clicking on the “Export CSV” button. The CSV file will save to your computer. CSV files can be read by any accounting programmes such as Microsoft Excel or Apple Numbers.

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Cash up

At the end of the day, you will want to make sure that what you have recorded in Timely, matches what you have in store.

To do so, you can perform a "cash up" to close the register and make a note of any differences. 

This will include any cash or card payments processed in store, as well as any custom payment types.

More about how to perform Cash up

 

Cash up in-store TimelyPay payments

The section "3. TimelyPay" aims to help you to reconcile the TimelyPay payments processed in-store, that is the card payments taken via your TimelyPay terminal as well as the payments taken via Cardless checkout.

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Both the "Expected" and "Actual" amounts will be automatically populated for both Payment types: TimelyPay - Terminal and TimelyPay (Cardless checkout).

Expected amount shows the total amount of transactions per each payment type recorded in Timely. Actual amount shows the total amount of transactions per each payment type that you have processed, and therefore, will receive in your upcoming TimelyPay payout.

If the amounts don't match, that means you have missed to complete at least one payment. The payment amount will still be paid out to you, however it has not been recorded in Timely. Nevertheless, you can find the incomplete payments in the TimelyPay transaction history page.

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