Settlements

Understanding and managing cash flow is important for any business, and settlements offer a clear snapshot of financial operations. This transparency helps businesses plan growth, build trust in payment processes, and maintain financial stability. Solidgate provides you with essential insights and a detailed record of the settlements and settlement reports, helping maintain financial oversight.

Settlement is the transfer of funds from processed transactions to a merchant’s bank account. It can be done on the following basis types:

• Gross basis
  The transaction amount is transferred to the merchant, while any associated fees are billed separately or deducted at a later date.
• Net basis
  Fees are deducted from the transaction amount before the funds are transferred.

The settlement basis depends on the provider, determining how and when funds are paid out.

In the Solidgate Hub , you can view and customize the display of settlements according to your preferences for a tailored overview of your settlement information. This flexibility ensures quick access to relevant data, enhancing your control over finances and supporting informed decision-making.

Each settlement in the list is accompanied by details in the corresponding columns:

• Settlement ID - a unique identifier assigned to each settlement
• Provider - the provider who sent the settlement
• Period - the date range of transactions included in the settlement
• Date - the date when the settlement was processed
• Legal entity - the legal entity to which the settlement was sent
• Amount - the total amount and currency of the settlement sent
• Currency - the currency in which the settlement was sent
• Actions - download a file that summarizes the settlement details

A settlement summarizes fund movements during a settlement period, including sales, refunds, chargebacks, fees, and other adjustments. This period is defined in your agreement with the payment provider and determines the frequency of fund transfers.

Settlement reports

A settlement report is a detailed summary of all financial records linked to a particular settlement. It covers key aspects such as total sales, refunds, chargebacks, fees, and reserves. These reports can be useful for various purposes, including:

• Payout verification
  Merchants can use the report to ensure that the amount deposited into their bank account matches the financial summary in the settlement report.
• Communication with your bank
  The report serves as an official document that merchants can provide to their bank as proof of settlement, streamlining communication with financial institutions.
• Financial overview
  The report offers a quick snapshot of the merchant's overall performance during the settlement period, helping evaluate sales and transaction flow.
• Fee analysis
  Merchants can review the fees associated with each settlement, providing insights into costs and supporting better financial planning.

Solidgate helps you maintain control over financial data by consolidating it from different payment processors in one place. Depending on provider support, merchants can access settlements, settlement reports, or both for easier reconciliation and analysis.