Reconciliation Guidance

1. Statement Summary:

• Processing Fees: The total amount charged to the merchant for using payment processing services.

• Other Fees: These include any additional charges unrelated to payment processing. These fees might cover account maintenance or other services. These are passthrough fees from credit card companies or other fees that do not apply to payment processing.

• Total Processing Service Fees for This Report Period: The total amount taken from the merchant’s account for processing payments in the previous month. This is the amount Tuition Express (the processing company) withdrew.

2. Activity Summary:

   This is the total number of payments processed by a particular payment method.

   In the example below, there were 82 Visa transactions totalling $27,892.00.

3. Processing Details

   Breakdown of rates for ACH and credit card fees.

   In this fictional example, the customer processed $36,631.05 at the rate of 0.35 and was charged $128.21 for processing.

   

4. Other Details

   These are passthrough fees from card companies or other fees charged by Procare for batches or declines. These are not part of processing fees.

   

This report provides details on deposits made to your bank account, including the date each deposit was processed.

TE OL ####: These are ACH transactions. For example, 10/3/2023 TE OL ### $727.19 indicates that ACH transactions totalling $727.19 occurred on 10/2/2023 and were deposited on 10/3/2023.

TE POS: This refers to card transactions, including point-of-sale (POS) transactions and other card payments, such as autopay billing payments or payments made via the Child Care Mobile App. For example, "10/3/2023 TE POS $4,512.63" means this amount was sent to the bank on 10/2/2023 and deposited on 10/3/2023.

This report provides a detailed breakdown of each ACH payment batch deposit.

The example below includes eight transactions totaling $2,525.78. The report displays the names of the account holders (the parents), the name on the account, the date created and the corresponding amounts.

This report outlines the expected deposit dates for card payments. It includes details for each batch deposit along with a payment breakdown. The report will also display the parents' names, as they are the cardholders.

For example, a transaction dated November 1, 2023, for $427.45 is expected to be deposited into the bank on November 2, 2023. The batch contains seven transactions, totaling $7,160.45, which is the expected deposit total. The anticipated deposit date is November 2, 2023.

This report lists failed payments and, most importantly, includes the reasons why they failed.

For example, you might find a transaction from a parent’s account in the transaction list and cross-reference it with this report.

ACH:

1. Find the payment in the All Transactions screen. Identify the account/card holder name.

2. Generate the Transaction Batch Details Report for an ACH payment

3. Look for the payment amount and the parent’s name on a deposit date starting a day after the payment was made

4. Once you identify which batch it was a part of, you can report the Date Processed (Transaction Batch Details Report) listed and then verify the Deposit Date with the Bank Account Activity Report.

Credit Card:

1. Find the payment in All Transactions screen. Identify the account/card holder name.

2. Generate the Payout Expected Deposit Report for a card payment.

3. Look for the payment amount and the parent’s name on a deposit date starting a day after the payment was made

4. Once you have identified which batch it was a part of, you can find the Expected Deposit Date listed and then verify the Deposit Date with the Bank Account Activity Report.