A settlement from your payment provider contains one or more "Settlement Summary Items" (Financial Entries - e.g. sales, refunds etc - and Tax Items). Where possible, Equali performs a many-to-one reconciliation between the settlement (the "one") and the one or many Settlement Summary Items that make up the settlement.
What is reconciled?
The Equali platform looks for every payment associated with the settlement with an input source of "PSP" (i.e. financial entries relating to your payment provider and not your "internal" records).
The settlement amount of both the settlement and the "Settlement Summary Items" are reconciled. Any difference between the two is shown in the table under that settlement as a "Payout Discrepancy". An example payout discrepancy is shown in the below screenshot.
Note: if tax is not being withheld by your payment provider, tax is included in the "Settlement Summary Items" but excluded from the settlement reconciliation.
Has my settlement been reconciled successfully?
If you see a tick in the "Item match" column next to your settlement, it has been successfully reconciled against the "Settlement Summary Items". See the below screenshot for an example.
Can I still post to my accounting system if there is a "Payout Discrepancy"?
Yes, you can still post a settlement to your accounting system if there is a payout discrepancy. You will be able to map the payout discrepancy to an appropriate Ledger Account ID.
Does automated settlement posting still work if there is a "Payout Discrepancy"?
No. If there is a payout discrepancy for a given settlement, automated settlement posting will fail and all users associated with your organisation in Equali will receive an email with the reason. For that settlement, you will need to post manually to your accounting system.
I think something is wrong - how do I get in touch?
If you have assessed the payout discrepancy and believe there has been an error, please contact the Equali team using the support form and we'll get back to you as soon as possible.