Understanding the End of Day Banking process
Your End of Day Banking process
Once you’re finished trading for the day, we recommend you reconcile your takings. You can do this by either performing an End of Day reconciliation on your card machine, or by using your payment gateway’s reporting function.
This allows you to check your sales figures against your receipts, so you can be sure exactly how much money you have taken that day. This is also relevant for making sure that we have paid you the right amount after we settle those transactions.
Barclaycard’s End of Day timeframe
At the end of each day, we add up your sales and send it to your bank account.
For card machine customers, we tally up your total card machine sales each day at 10pm. Ideally, you should run your own End of Day process before 10pm – that way, our End of Day amount should match yours, and there won’t be any surprises when you get your payment.
For eCommerce customers using our payment gateways (i.e. Smartpay, or ePDQ), our End of Day cut-off point is at 12pm. That means your settlement should reflect midnight day 1 to midnight on day 2.
For customers using card machine or gateways from other suppliers, your cut-off times may be different from those mentioned above. Please contact your supplier for more information.
What if the figures don’t add up?
Sometimes there’s a difference between your End of Day amount and your final settlement amount for that day (i.e. Barclaycard’s End of Day amount). This is usually for one of two reasons:
1. You perform your End of Day after our cut off time
For example, for card machine customers, if you take any payments after 10pm, they will automatically roll onto the next day’s End of Day calculation.
Sometimes this can make it look like there’s a discrepancy between the two End of Day amounts – this tends to effect businesses like pubs and restaurants still taking payments after 10pm.
You can avoid this discrepancy by asking us to change the time we do our End of Day calculation. For example, if you normally do your End of Day at midnight, maybe ask us to run our End of Day at 1am, that way the amounts should match.
In the Republic of Ireland, we do our end of day for card machines at 4:30am, so there’s less chance that the amounts would be different.
2. Pre-authorisation discrepancies
Sometimes you may want to do a pre-authorisation to make sure a customer has enough money in their account to cover your services. Hotels sometimes use this to make sure they get paid for room service, holding an amount (perhaps £50) against the room, and then charging only for what is used when the guest checks out.
Pre-authorisation balances are not included in your card machine’s End of Day Banking total, or ours, until the final transaction is completed.
It’s easy to accidentally include pre-authorisation receipts in your End of Day reconciliation, so make sure you exclude these receipts from the process (pre-authorisation receipts have AUTH ONLY printed on them).
Also, be aware that a completed transaction may not be for the same amount as the pre-authorisation, which can sometimes lead to confusion.