Once a batch closes the system sends the record to the processor and the processor transfers the funds into your merchant bank account, and a settlement report is automatically created.
Settlement Report provides information on settled credit card transactions. You can use this to reconcile credit card transactions processed with bank deposits received. Settlement reports are only generated when batches are settled.
Each record in the report will contain detailed information about each specific transaction, and will display a batch ID number associated with each settlement.
The top portion of the report summarizes the transactions and tips contained in each batch. There is also a batch ID unique for each settlement, in case there are any question regarding a certain settlement.
The remainder of the report provides a summary of transactions, as well as details of each transaction by credit card type, date, customer name, and total amount of transaction.
Note: The total listed in the report does not include any processing or payout fees that might be issued by your processor.