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Reconcile and Research GZ Pay Payments

Updated

What this does: Uses the GrowthZone Pay (GZ Pay) reports to match GZ Pay transfers to your bank deposits, see processing fees for journal entries, and research charges or refunds you don’t recognize.

Applies to: GrowthZone staff with access to Finance. The reports are on Finance, Billing section, Dashboard, under Reports in the Credit Card Processing group. Each opens in a new browser tab.

Before you start: GZ Pay sends money to your bank as transfers (payouts), net of processing fees. For timing, see GrowthZone Pay deposits and payouts.

Time needed: 10 to 15 minutes per month.

Finance Billing Dashboard with the Credit Card Processing reports group boxed

Which report to use

Report What it shows Use it to
GZ Pay Monthly Transfers Every transfer to your bank for a gateway, month and year; click an ID for the payments and fees in it. Get a month at a glance; find fees for journal entries.
GZ Pay Transfers Report Transfers in a date range, with the amount deposited, processing fees and the receiving bank account. Research an unknown bank charge; get the transfer ID.
GZ Pay Transfers Details Report Every transaction in each transfer: customer, item, gross and net amounts, fees and card details. Match a bank deposit line by line; follow payments and refunds.
GZ Pay Monthly Statement Income from all your payment gateways, summarized by month. See monthly totals; find months with refunds.
Accounting Summary Payments Report General ledger debits, credits and processing fees for payments. Post fees and payments to your accounting software.

GZ Pay Monthly Transfers

Lists every transfer from a gateway for the month you choose, and the payments that make up each one. Use it to find credit card fees so you can make the matching journal entries in your accounting software.

  1. Open GZ Pay Monthly Transfers (Original). The page, Payment Gateway Monthly Transfers, opens on the current month.
  2. Change Payment Gateway, Month or Year if needed and click Refresh. 
    Payment Gateway Monthly Transfers page with the filters, Refresh button and a transfer ID boxed
  3. Click the ID link for a transfer to see its contact names, transaction IDs, payment amounts and fees. 
    Transfer Details window showing Gross, Fee and Total for each transaction

GZ Pay Transfers Report

Shows each transfer in a date range with the amount deposited, the credit card fees and the bank account it went to. Summarize by Date Paid and ID to compare it with the details report.
GZ Pay Transfers Report with the Date Range and results boxed

GZ Pay Transfers Details Report

Shows every credit card transaction in each transfer, including the goods, services or events behind it, so it’s the best report for reconciling deposits.

  1. Open GZ Pay Transfers Details Report.
  2. Enter a Date Range. Transfers paid in that range are included.
  3. Optionally choose a Card Type or Payment Gateway (for example, Visa only) and add Additional Criteria / Filters.
  4. Under Display Options, add fields to Fields to Display such as Account Name and Account Number. Summarize by Transfer Date and Transfer ID to line up with your bank statement. 
    GZ Pay Transfers Details Report criteria with Date Range, Card Type, Additional Criteria, Fields to Display and Summarize By boxed
  5. Click Run Report.
    GZ Pay Transfers Details Report results with Transfer Id, Type, Total, Gross and Fee columns boxed
NOTE: If a contact paid with Stripe Link, Card Type and Card Number are blank in this report.

How payments and refunds appear

A transfer can contain both payments and refunds. Using a $50 payment at an example rate of 2.99% + $0.45 (actual rates may differ):

Payment of $50 Refund of that $50
Your organization +$47.56 (shown in the report and on your bank statement) −$47.56 (shown in the report)
Processing fee $2.44, taken from the deposit (in the report, not on your bank statement) $2.44 (shown in the report)
Customer Paid $50.00 Gets $50.00 back (this amount is on your bank statement)

So on your bank statement, the payment shows as the net amount and the refund as the gross amount.

GZ Pay Monthly Statement

Summarizes income from all your payment gateways by month. Filter by gateway or date range; to find months with refunds, add the filter Refund Count Not Equals 0.
GZ Pay Monthly Statement Report with the Refund Count Not Equals 0 filter boxed
GZ Pay Monthly Statement Report results with Date, Refund Count, Refund Amount, Net Activity and Monthly Balance boxed

Accounting Summary Payments Report

Shows the general ledger debits, credits and processing fees for payments. Search by date and payment type, and exclude refunds if you want.
Accounting Summary Payments Report results

Research an unknown charge

  1. In the GZ Pay Transfers Report, copy the ID of the transfer in question.
  2. Open the GZ Pay Transfers Details Report and add the filter Transfer ID Equals, then paste the ID.
  3. Run the report to see every transaction in that transfer.
    GZ Pay Transfers Details Report filtered by Transfer Id, with the filter and results boxed

Common pitfalls

  • Bank deposit doesn’t match GrowthZone: GZ Pay deposits the net amount after fees. Use the details report to see gross, fee and net.
  • Card details blank: the contact paid with Stripe Link.
  • Refund looks bigger than the payment: refunds show at the gross amount on your bank statement; payments show net.

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