How to Reconcile
Verify that your funds have settled into your accounts.
Reconciliation is designed to ensure that account balances are correct between your client wallet and bank account at the end of a given period. Each transaction is billed, invoiced and funds are settled based on predefined agreements. Rapyd provides you with reconciliation reports that display your transactions and settlements to help you verify that funds have been processed and settled according to your expectations.
Merchant Reconciliation Report - All of the transactions processed in the past day.
Merchant Settlement Report - Details of the amount to be settled to the client’s bank account, on the day the report is generated.
Common Use Cases Include:
Using daily and monthly settlement reports to verify funds that have been processed and settled according to client expectations.
Verify billing statements against the monthly invoice, in multiple currencies.
Use the Merchant Reconciliation Report to match up all transactions processed on a daily basis.
a. All transactions Rapyd has processed
b. All transactions were billed for
Contact Rapyd support for any adjustments.
Use the Merchant Settlement Report to match up all funds settled into your bank account.
a. Compare settlements with Client Portal and your bank account.
b. Go to My Account > Settlements > History
Settlement and Billing
Transactions are processed and tracked as they move into your client wallet and the available balance is reflected in Client Portal. When applicable, funds settle from Rapyd to your bank account. Billing recurs daily, and a monthly invoice is produced.
Steps to Complete Reconciliation
Follow the steps to Downloading a Financial Report. Data formats and descriptions are shown on the linked pages under the previous financial reports section.
Your selected file will appear in the /downloads folder on your local drive.
Review your transactions and wallet balance(s) with the following reports:
Merchant Reconciliation Report
Validate transactions - Use the daily Merchant Reconciliation Report to validate all transactions have been processed according to your expectations, and verify the fees calculated per transaction.
Verify fees - Use the daily Merchant Reconciliation Report and the Client Portal to verify the fee amount deducted from the wallet matches your expectations, and that the wallet amount matches the expected fee deduction.
Verify the net settlement amount - Use the daily Merchant Reconciliation Report and Settlement Report to verify the net amount settled from the wallet matches the expectations.
Merchant Settlement Report
Verify deposits - use the Merchant Settlement Report to verify the funds deposited into your account are correct, and use in conjunction with the Merchant Reconciliation report to verify the net amount to deposit.
Verify the net settlement amount
Request any reconciliation of funds by reaching out to our support team.
Rapyd will confirm and transfer funds into your account.