Skip to main content
Sign in Menu

Reconcile Bank Statement with Credit Card Charges Report

Carrie B.
  • Updated

Available on WebABA Group only. Learn more about WebABA Group.

You are able to filter your Credit Card Charges Report to find and match Credit Card Charges/Payments made in WebABA to Deposits on your Bank Statement.

Jump to Section [Disbursement vs Deposit] [Reconcile Your Bank Statement] [Examples] [Troubleshooting]

 

Disbursement vs Deposit 

The biggest thing you need to know when reconciling is that the Disbursement Date does NOT typically equal the recorded Deposit Deposit on your Bank Statement

  • Disbursement Date = The Date the Payment left the Merchant Processor. Disbursements leave the Merchant Processor at 5pm EST and contain all Credit Card Payments made in the previous 24 hours.
  • Deposit Date = The Date your Bank registers the Deposit arriving in your Account.

Typically there is a day (or occasionally more) delay between the Disbursement Date and the Deposit Date. See the Net Deposits article to better understand this.

Knowing this will help you reconcile your Bank Statement.

 

Reconcile Your Bank Statement

There are two things you will want to check on your Bank Statement.

  1. Deposit Amounts
  2. Deposit Dates

Once you have that, pull up the Credit Card Charges Report in WebABA. 

**Remember, Deposit Dates are NOT the Disbursement Date. They are typically at least a day (or more) after the Disbursement Date.

Let's run through a few Examples.

 

Example 1

Recorded Net Deposit: $246.75 on Friday, January 19.

NOTE: Recorded Net Deposit is Gross minus Fees.

What should I do?

  1. Filter the Credit Card Report to Wednesday, January 17 to Thursday, January 18.
  2. Select Credit Card Payments made AFTER 5pm EST on Wednesday, January 17.
  3. AND select Credit Card Payments made BEFORE 5pm EST on Thursday, January 18.
  4. Selected Credit Card Payments should equal the amount in your recorded Deposit: $246.75

 

Example 2

Credit Card Charges/Payments that happen after 5pm EST on Friday can be tricky. Let's look at an example for that. What gets Deposited on Monday was Dispersed from WebABA the previous Friday at 5pm EST, and contain Credit Card Charges from the previous 24 hours.

Recorded Net Deposit: $634.95 on Monday, January 21.

NOTE: Recorded Net Deposit is Gross minus Fees.

What should I do?

  1. Filter the Credit Card Report to Thursday, January 18 to Friday, January 19.
  2. Select Credit Card Payments made AFTER 5pm EST on Thursday, January 18.
  3. AND select Credit Card Payments made BEFORE 5pm EST on Friday, January 19.
  4. Selected Credit Card Payments should equal the amount in your recorded Deposit: $634.95

 

Troubleshooting

  • Depending on your Bank, Deposits may take longer than a day to reach your Account. If you can't find a matching Dispersement, widen your filter Dates. 

 

Related articles