Reconciliation

Reconciliation helps you match GovPayPlan transactions with your bank statements and accounting systems to ensure accurate financial records.

Understanding Reconciliation

What is Reconciliation?

Reconciliation is the process of comparing two sets of records to ensure they match:

• GovPayPlan transaction records
• Bank deposit statements

Why Reconcile?

• Verify all payments were deposited
• Identify discrepancies early
• Maintain accurate books
• Meet audit requirements

Settlement Schedule

Transactions are settled (deposited to your bank) based on your agency's configuration:

Schedule	Description
Daily	Deposits made each business day
Weekly	Deposits made once per week
Custom	Agency-specific schedule

TIP

Settlement typically occurs 1-2 business days after the transaction date.

Running Reconciliation

Step 1: Access Reconciliation

1. Navigate to Reports > Reconciliation
2. Select the settlement period to reconcile

Step 2: Review Settlement Summary

The summary shows:

• Total transactions in period
• Gross transaction amount
• Processing fees
• Net deposit amount
• Expected deposit date

Step 3: Compare with Bank Statement

1. Obtain your bank statement for the period
2. Locate the GovPayPlan deposit
3. Compare the deposit amount with the net amount shown

Step 4: Mark as Reconciled

If amounts match:

1. Click Mark Reconciled
2. Enter the bank reference number (optional)
3. Add any notes
4. Confirm

Handling Discrepancies

Common Causes

• Timing differences (transaction posted to different days)
• Refunds processed during settlement period
• Chargebacks
• Fee adjustments

Investigating Discrepancies

1. Click View Details on the settlement
2. Review individual transactions
3. Check for refunds or chargebacks
4. Compare transaction-by-transaction if needed

Resolving Issues

If you can't resolve a discrepancy:

1. Document the difference
2. Contact GovPayPlan support
3. Provide settlement ID and bank statement

Settlement Details

Each settlement includes:

Transaction Breakdown

• Number of card transactions
• Number of ACH transactions
• Subtotals by payment type

Fee Summary

• Processing fees per transaction
• Total fees for period
• Net after fees

Refunds and Adjustments

• Refunds issued during period
• Chargebacks received
• Fee adjustments

Exporting Reconciliation Data

Export settlement details for your records:

1. Select the settlement period
2. Click Export
3. Choose format:
   • PDF (summary report)
   • CSV (transaction detail)
   • Excel (full report)

Best Practices

1. Reconcile regularly - Don't let periods accumulate
2. Keep bank statements - Retain for audit purposes
3. Document discrepancies - Note how they were resolved
4. Set up alerts - Get notified of settlement issues

Related Topics

• Transaction Reports - Detailed transaction data
• Exporting Data - Download for accounting systems