To start the reconciliation
- Do one of the following:
If you are reconciling at the organization level, navigate to Org Level Admin > Zenoti Payments > Reconciliation.
If you are reconciling at the center level, navigate to Center Level Admin > Zenoti Payments > Reconciliation.
- Select the filter criteria and run the report.
The report runs and displays week-wise details of transactions that are available for reconciliation.
- Click Start.
The report opens and you will notice two stages of the report.
- Reconcile Bank Deposits to Payouts from Zenoti Payments
- Reconcile Payouts to Collections in Zenoti
This means you must first reconcile your bank deposits to the payouts recorded
in Zenoti and then proceed to reconcile those payouts with collections in
Zenoti. This reverse method of reconciliation provides a clear picture and
allows to track the payouts and collections systematically.
Note: Keep your bank account statement handy and then proceed further.
4. Scroll down to see the day-wise summary of payouts for the week or month
(as per your set preferences).
5. Compare the payout amounts with the deposits in your bank statement for
6. Use the slider to indicate if the payout amount and the amount deposited in
the bank matches or not.
7. By default, all the transactions will be marked as YES.
8. If the amount does not match the payout, mark the transaction as NO
(to indicate the payout amount is different to the deposit amount), and enter
the actual amount deposited. Zenoti will automatically calculate the
difference and display it in the field provided.
9. After you finish reconciling the payouts and the deposits, on the floating
bottom panel, click Next.
A summary of the reconciled payouts to collections appear and will display
the following information:
a. Your Net Payouts: Net Payouts = Gross Payouts - Fee.
b. Your Net Collections: Net Collections = Gross Collections - Fee.
c. Difference: Net Payouts - Net Collections.
If there is a difference between the Net Payouts and the Net Collections, you
will see the transaction-wise details for the mismatched invoices.
The Mismatched Invoices section consists of the following columns:
- Payout Date: The date when you received the payouts to your bank account.
- Invoice Number: The invoice number of the transaction on which the payout was made.
- Gross Payout: This is the total amount that was sent to your bank account before deducting the processing fee. [Gross Payout = Net Payout + Fee]
- Fee: This is the amount charged for processing the transaction by the bank.
- Net Payout: This is the amount that is deposited into your bank account after the processing fee. [Net Payout = Gross Payout - Fee]
- Gross Collection: This is the amount you collected after the transaction. This amount is the same as the invoice amount. [Gross Collection = Net Collection + Fee]
- Fee: This is the fee charged by the bank for processing the transaction.
- Net Collection: This is the amount that is sent to your bank account. [Net Collection = Gross Collection - Fee].
- Reason: This is the reason for the mismatch in the invoices.
- Status: The status of the deposit will be as follows:
- Deposited: If the collections are deposited to your payout account, the status of such invoices will be Deposited.
- Voided: Voided are the collections that are canceled after authorization. In such cases, you will see two rows of line items for the same invoice. One line item denotes collection after the authorization, and another after the cancelation.
- Refunded: Refunded are the transactions that are returned to the guest after successful payment. Even for the refunded transactions, you will see two line items for a single invoice. One item denotes the credit of funds and the other denotes the debit of funds.
- Chargeback: If there are any disputes on the invoice, you will see the status as Chargeback.
Note: A chargeback transaction will always be denoted in (-) negative value, as you are being charged for a failed dispute.
- Chargeback Reversed: If there is a dispute on the invoice and after you submit the evidence, if the bank decides to rule the dispute in your favor, you will see that the chargeback is reversed. This transaction is denoted as (+) positive.
- Transaction Date: This the date of the transaction.
- Card Brand: This field denotes the brand name of the card. For example, VISA, Maestro.
- Card Present?: This field denotes only two values. Yes or No. If the transaction in an invoice was done using a terminal (swipe, tap, or insert), you will see the value as Yes. For all other transactions (online, manual, saved card), you will see the value as No.
10. For every mismatched transaction, click Reconcile to manually review
the payouts and the collections.
The Review and Reconcile pop-up window appears and gives you the reason
for the mismatch of numbers for this transaction.
11. Click Mark as Reconciled.
The pop-up window closes and the line item is marked in green color,
indicating that the mismatched invoice is now reconciled.
12. If you have marked the transaction as reconciled in error, click
Manually Reconciled to reopen the Review and Reconcile pop-up window
and click Undo Reconciliation.
Note: Zenoti identifies the reason for the discrepancy and informs you of
the same. For example, in the above image, you can see that the reason
for the mismatch is due to the payment being captured outside of Zenoti.
If Zenoti is unable to determine the exact reason for the discrepancy, you
will see the following message:
13. Repeat step 9 for every mismatched transaction in the list. After you reconcile
all the transactions, your screen will look something like this:
14. Scroll down and click Mark as Reviewed.
The Add Notes pop-up window appears.
15. Enter the notes for the reconciliation. You can enter important information
such as how you did the manual reconciliation, a number of the invoices that
you may need to check later, and points to remember for your colleagues
while doing a manual reconciliation.
16. Click Done.
The notes are added and you are redirected to the report main page.
The reconciliation status for the selected week will change
You have successfully used the report to reconcile your bank deposits with your payouts, and payouts with corresponding collections.