Here's an easy step-by-step guide on how to reconcile your invoices and bank deposits.
How to Video:
It is important to keep in mind that deposits occur 3 business days after the invoice/payment is processed through Fit Pro Tracker. See the Deposit Schedule below for reference.
1) You should be receiving a Merchant Deposit Statement from Zift each time a deposit is made. Zift deposits happen each business day as long as there are transactions. Statements are sent via email to the Billing Email that you have provided on Fit Pro Tracker. To verify this email address go to Location>Settings>Address.
If you are not receiving your Zift statements please contact Support Team for help. Article (here)
2) Next, go to Billing>Reports>Transaction Report to pull the report for invoices that correspond with your Zift statement. Filter to the correct dates keeping in mind that you will need to filter 3 business days prior to the merchant deposit date.
Monday deposits: transactions from Wednesday
Tuesday deposits: transactions from Thursday
Wednesday deposits: transactions from Friday, Saturday, Sunday
Thursday deposits: transactions from Monday
Friday deposits: transactions from Tuesday
Zift runs the transaction for the day before 12 midnight EST. Transactions processed after 12 midnight will reflect on the following day.
3) Click the Export to Excel button on your transaction report
4) Start matching the transactions on your Excel file to your Zift statement under the Transaction Details using the name and amount. Pro Tip: On your Zift Statement Batch transactions are associated with recurring payments such as membership payments. Realtime transactions will be single payments or POS transactions.
5) If you find Realtime transactions that are not showing on your transaction report, it is likely that this is because they are POS transactions. In order to reconcile your POS transactions, you will need to pull a POS Invoice report. You can do this from your Fit Pro Tracker account by clicking POS>Reports>Invoice Report and selecting the same date selected for your transaction report.
6) It is important to utilize the Billing Activity Summary of the contact to view the transaction details if you have questions on a transaction. Oftentimes the Billing Activity Summary will provide additional clarity.
7) Refer to the Transaction Report and Zift Merchant Statement: Reconciliation guidelines article for more helpful tips. Article (here)
8) For further questions, please contact Support Team for assistance.