How do I Reconcile my Bank Account and Storable Payments?

 


To reconcile your bank account and Storable Payments account, log in to MyHub Corporate Control Center.

1. In the navigation menu, click Payments and then CC Deposits and Fees.
2. Select your start and end dates, as well as which facilities (or all) you’d like to view deposit activity for.

This page shows a list of Credit Card Bank Deposits that have been sent to your bank account. The date shown is the date Storable Payments sent the deposit to your bank account. 

Each of those dates represents payments taken from 12am to 11:59 pm local time. For example, payments taken from 12am on April 1st through 11:59 April 1st, will be included in the April 2nd deposit. The funds will be available 1-2 days after the deposit date, depending on your bank.  

 

 

In the example below, the Deposits list shows an $18,603.39 deposit dated May 7th. This amount should be posted to the user’s bank account on May 8th or May 9th, depending on their bank.

Total Net Amount on the top left is the total net credit card activity that was deposited into your bank account throughout the date range that you've selected. You can adjust the Start and End Dates in order to use this number for end of month reporting, or reconciling credit card funds received over several days. 

 

Which Transactions Went into a Deposit? 

You can click the View button to the right of a deposit to see more details.

 

Activity Type Summary

The Deposit Details page shows a breakdown of the total credit card sales, refunds, chargebacks and fee charges that made up the net deposit amount.

 

Chargebacks

Chargeback activity is represented in the Activity Type Summary section at the top of the page. For example, if there were 2 chargebacks totaling $72.23, then -$72.23 would show up in the Chargebacks box. Chargebacks are not represented in the Sales / Refunds list.

 

📖  Learn more about our chargeback process

 

Sales / Refunds list

The list of Transactions beneath the summary shows any Sales and Refunds that took place within the deposit time window. The deposit window will be Midnight local time to 11:59pm. 

 

Transaction statuses

Transactions move through several statuses between the time you initiate a payment and the time the money is funded to your bank account. The timing of when funds are deposited to your account depends on when the transaction was processed and whether it was a credit card or ACH transaction. You can view a list of transactions and their statuses on the Transactions page.

📖  Read more about Transaction statuses and funding times

 

Reconciliation FAQ

When can I expect to see my Deposit on this list?

Deposits should appear on the Deposits list as Processing 1 business day before the funds are posted to your bank account. This will be 1-2 business days after the transactions are initiated. 

What if the total number on the MyHub Corporate Control Deposit List doesn’t match what the Bank Statement says?

Make sure you’re looking at the correct date. The date you see on your bank statement reflects the date that your bank posted the funds to your bank account. The date you see in MyHub Corporate Control should be one or two days before this.

If you still think there is a problem, contact Storable Support at merchantsupport@sitelink.com or 512-886-1840.

How do I know if there was a Chargeback?

The Deposit total includes any Chargeback activity. You can see the total amount of Refund activity that affected a Deposit total by viewing Deposit Details. Learn more about our chargeback process. 

How do I know if there was a Refund that isn’t accounted for?

Because you cannot initiate refunds on the processor-side, any void or refund initiated through SiteLink is fully processed as expected. This means there will be no discrepancies resulting from refunds that took place on the processor-side only. Users can see the total amount of Refund activity that affected a Deposit total by viewing Deposit Details.

 

Still have questions?
Don't be afraid to ask us. We're here to help you.