Settlement Reports

Updated 7 months ago by Isa

Settlements

Settlements correspond to the total amount of funds that Stronghold deposits into a merchant’s bank account on a given day.

Timeline for Merchant Settlements

Funds take three business days to settle into the merchant’s bank account. For example, Monday charges settle on the following Thursday

Friday, Saturday, and Sunday charges settle on the following Wednesday. You'll see three separate settlement reports and separate deposits into the merchant bank account on Wednesdays.

Funds settle to the merchant’s bank account as one cumulative amount per day.

Stronghold deducts its fees before depositing the net settlement into the merchant’s bank account. There is no separate invoicing for Stronghold fees.

Searching for Settlement Reports

In the Dashboard, click Settlements on the top menu bar.  Under Settlements, you’ll see a list of your settlement history by day. 

Date is the day in which the funds appear in the merchant’s bank account.

Net Amount is the total amount of funds deposited in the merchant’s bank account.

Description shows the day for which the charges originally took place (3 prior business days).

In the example above, on September 25, 2020 (Date) $2,797.35 (Net Amount) was deposited into the merchant’s bank account. This settlement corresponds to all charges from September 22, 2020 (Description). 

Settlement Details

In the Settlements view, click on a specific settlement report to get more details.

Settlement Details page

Here you’ll view three sections:

Settlement Details gives you a general summary of the amount settled, when, and for what day of charges. You can also download the report. Here's how.

Balance Transfer Summary gives you a quick snapshot of the type of charges settled and amounts settled for each. See next section below for more detail.

Balance Transfers gives you a list of transactions in that specific settlement report. You can view these in a spreadsheet by downloading the entire Settlement Report. Here's how.

You can also link directly to a specific transaction in that settlement by clicking View under Link to the right.

Downloading a Settlement Report

Make sure you have sandbox data turned off to view real data. Here's how.
  1. In the dashboard, Click Settlements
  2. Click on the specific settlement report you want to download. 
  3. Under Settlement Details In the top right corner, click the three dots and click Download Report.
  4. Open the csv file downloaded to your computer to view the report.

Understanding the Balance Transfer Summary Section

The Balance Transfer Summary shows you a quick snapshot of all the charges for a specific Settlement without having to download the report.

TYPE is the first column describing these categories of settlements:

  • Charge Settlement - these charges settled successfully
  • Tip Settlement - total tips settled successfully
  • Charge Collection - charges previously in “Attempting Collection” that have successfully settled
  • Tip Collection - tips previously in “Attempting Collection” that have successfully settled
  • Charge Reversal - refunds processed back to the customer. This will always be either $0 or a negative amount.
  • Tip Reverals - tips associated with a refunded charge. This will always be either $0 or a negative amount.
  • Adjustment

For each TYPE, you'll see the GROSS, NET, and FEE to the right.

GROSS is the gross amount before any Stronghold fees are taken into account. 

NET is the amount after Stronghold fees are taken into account.

FEE are the fees Stronghold has taken out from the Gross. 

GROSS - NET = FEE

The total of all the NET settlement amounts (2nd column) is what is deposited into the merchant’s bank account. 

Understanding the Settlement Report

After downloading and opening the Settlement Report, you'll see the following first 4 rows of data:

B1 = Settlement Date is the date the funds settled into the merchant's bank account.

B2 = Net Amount settled into the merchant's bank account.

B3 = Gross Amount of charges before Stronghold fees were applied.

B4 = Description is the date of the charges for which that settlement corresponds to.

The reports also includes the following data below the first 4 rows:

A. Settlement Types - this includes Charge Settlements, Tip Settlement, Charge Collection, Tip Collection, Charge Reversal, Tip Reversals, Adjustments. For a description of these types, go back up to the Balance Summary Section here.

B. Total Amount - total charged to the customer including any convenience fees and/or tips

C. Convenience Fee - convenience fee charged to the customer

D. Gross Amount - amount that Stronghold calculates its fees from

B. Total Amount - C. Convenience fee = D. Gross Amount

E. Fee - fees paid to Stronghold by the merchant

F. Capture Date - original date of charge

G. Associated With - internal Stronghold charge ID

H. Associated External ID - order ID that corresponds with your POS or technology provider


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