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# Settlement Reconciliation

As a finance manager, you can reconcile Subscribe Transactions with payment processor settlements using reports in the Subscribe Portal.

* **Use Case Number:** 2-6-01
* **Completed By:** Finance Manager
* **Estimated Completion Time:** \<1 day

## Basic Scenario

At the transaction level, the payment amounts shown as received in Subscribe should match the amounts processed through the payment processor. By comparing transaction report data from Subscribe with transaction data from your payment processor you can reconcile Subscribe with your payment processor and account for the monies collected.

## Design Approach

Vindicia recommends that you use Subscribe reports to reconcile settlements on a monthly or quarterly basis (or an annual basis if the volume of transactions is low). For each chosen period, generate the Subscribe reports on transactions, refunds, and chargebacks (if applicable.) Then retrieve a corresponding transaction-level report from your payment processor for the same period. For the payment processor data, Vindicia recommends that you include one additional day in the reporting period to account for time zone differences and any delays in processor response. Compare the payment processor data to the Subscribe data. Data from both sources should match.

Vindicia does not recommend that you attempt to reconcile on a daily or weekly basis. A transaction has a different timestamp from Subscribe than from the payment processor, which interferes with daily or weekly settlement reconciliation. The different timestamps are a result of the following:

* Timestamps for Subscribe transactions are in Pacific Standard Time, but payment processors may use other time zones. For example, GlobalCollect uses the Central European time zone.
* Each Subscribe transaction is time stamped at the time it is created. Payment processor time stamps are hours later, because Subscribe sends transactions to processors in batches at scheduled intervals and actual submission for an individual transaction is impacted by overall load across all merchants within the environment.
* Some payment processors stop processing overnight and queue up transactions to be processed the following morning.
* Refunds can be performed for up to the amount of the originating transaction.
* Multiple partial refunds can be issued.
* It may take several days for a refund transaction to be processed.
* Refunds can be issued days, weeks, and even months after a transaction is initially authorized and captured.
* A refund transaction can fail due to credit card processing failure. Failed refunds need to be reconciled and may need to be manually processed in batch by the merchant.
* A small number of transactions, usually well below 1%, may have chargebacks filed against them. A chargeback may be registered against an account as many as 30 to 90 days after the initial transaction. When a chargeback occurs, Vindicia assesses the information reported by the subscriber and the merchant. If the chargeback appears to be fraudulent (that is, if it appears that the subscriber is disputing a legitimate transaction), Vindicia can challenge the chargeback on behalf of the merchant. Successfully challenging a fraudulent chargeback may take an additional 30 days. If a chargeback results in a transaction reversal, this must be reconciled.

## On-Demand and Scheduled Reports

To generate a Subscribe report on-demand see [Generating Reports on Demand](https://docs.vindicia.com/bundle/Subscribe_Portal2_User_Guide/page/topics/reportsWorking.html).

To schedule a Subscribe report to generate automatically see [Create Scheduled Reports](https://docs.vindicia.com/bundle/Subscribe_Portal2_User_Guide/page/topics/reportsWorking.html).

* **[Reconcile Cash Using Reports in the Subscribe Portal](../topics/2601_r_settlementReconciliation#)**

* **[Example: Reconcile Transaction Data with Chase Paymentech](../topics/2601_r_egReconcileChasePaymentech#)**

**Parent topic:**[Finance](../topics/r_finance)

## Reconcile Cash Using Reports in the Subscribe Portal

1. Generate the Transaction Detail Report for the applicable reporting period (see [Transaction Detail Report](https://docs.vindicia.com/bundle/Subscribe_Portal2_User_Guide/page/topics/reportsTransactionDetail.html) in the **Subscribe Portal User Guide**).

2. If needed, generate the chargeback report for the applicable reporting period (see [Chargeback Reporting](2602_r_chargebackReporting#)).

   **Note:**

   A chargeback is a reversal of a credit card transaction, typically initiated when a subscriber disputes a charge. For most merchants, reconciling chargebacks is not necessary; reconciling transactions and refunds is sufficient for most accounting purposes.

3. Retrieve transaction data from the payment processor for the applicable reporting period.

4. Reconcile the retrieved Subscribe report with transaction data from the payment processor.

   **Note:**

   Payment processor transaction IDs are Subscribe merchantTransactionIds in reverse.

   **Examples:**

   For an example of how to perform reconciliation against Chase Paymentech, see [Example: Reconcile Transaction Data with Chase Paymentech](2601_r_egReconcileChasePaymentech#).

**Parent topic:**[Settlement Reconciliation](../topics/2601_r_settlementReconciliation#)


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