Batch Settlement
When you process transactions, they are saved on the terminal and on the authorization server. The funds for the transactions only transfer to your merchant account after you perform a reconciliation between the terminal(s) and server; this process is the settlement.
Typically, you would process a settlement at the end of a business day. You can choose to process a settlement more than once a day or once every few days. The impact of not processing a settlement daily is a longer delay before funds are deposited to your merchant bank account.
When you process a settlement, the system validates that the transactions processed on the terminal match those on the authorization server. As you process transactions, the terminal and authorization server track the transaction history (operations) in the open batch. The settlement closes the active batch and clears the transaction history on the terminal and authorization server.
NOTE: When you process a settlement, the terminal is unable to perform any other transaction at that time.
To process a settlement:
- Touch the Action button on the main screen.
- Touch Settings.
- Enter the Merchant password and touch OK.
- On the Settings page, touch Settlement.
- On the Settlement page, touch Process settlement.
- Touch Host Totals to confirm that the transaction totals on the terminal correspond to the totals on the server.
- Touch PROCESS SETTLEMENT to close the open batch of transactions.
The screen turns green when the settlement is complete.
