SETTLEMENT REPORT

A How-To Guide for reading and understanding your Settlement Report


GENERAL NOTES
 

The purpose of the settlement report is to reconcile funds received into the business bank account; consider it a statement.

 

  • The settlement report is a transactional report generated from the Ezypay billing system.
  • The settlement report is a statement that lists transactions for the specified collection period.
  • A customer must have a minimum of one transaction in the collection period for the transaction to appear in the settlement report.
  • A transaction is defined as any type of procedure listed in the Revenue or Deduction sections.
Settlement Report

REVENUE AND DEDUCTIONS
Settlement Amount = Total Revenue – Total Deductions

Settlement Report

TOTAL REVENUE

All the transaction types that affect the amount of revenue you will make, e.g. debits and failed payments; it is a sum of all the items listed on the Total Revenue Summary page

Settlement Report

TOTAL DEDUCTIONS

All the transaction types that will decrease the amount of revenue you will receive, e.g. fees and partner payments

financial reporting
 

DESCRIPTIONS

REVENUE DESCRIPTIONS
Debits

The total value of the customer’s transaction processed by direct debit.

Rebill Debits

The total value of the customer’s rebill amount processed by direct debit; inclusive of Ezypay fees.

Recovered Payments

Payments for failed payments collected by Ezypay.

Advanced Payments

Payment received for an upcoming debit by Ezypay.

Failed Debits

Debits that have been rejected. Note: they could be from a previous collection period.

Failed Rebill Debits

Rebill debits that have been rejected. Note: they could be from a previous collection period.

Refunds

Previously paid amounts given back to the customer using a direct credit.

Settlement Adjustments

Used for any scenario that is not covered by a specific transaction type already listed. The details of this adjustment will be provided to ensure you understand what it is for.

FEE DESCRIPTIONS
Commission

Transaction fee for each direct debit.

Load

Once off charge for each customer loaded onto the system.

Variation

Depending on your service type, you may be charged to do changes to your customers via our customer service team.

Stationery

Depending on your service type, you may be charged for paper forms. This will not be available moving forward.

Access Pack

Depending on your service type, you may have this additional feature turned on. It is a weekly fee that gives you access to additional services at Ezypay.

Business Communication

Charged if we are sending communications to manage your business.

Customer Communication

Charged if we are sending communications to manage your customers, e.g. expired credit cards.

Failed Debit

Failed payment fee if charged to your business. If you have elected to charge to your customer, you may see entries here if a user writes off a failed payment (the failed fee is charged to the business in this instance).

Refund

A fee will be charged on refunds performed as it is a transaction performed through the banking process for which Ezypay is also charged.

Ad-hoc

An unplanned fee charged to your business, e.g. you have requested some IT work for which your business is being charged.

Customer Collected

If your business collects an Ezypay fee from the customer, e.g. failed payment recovered by business, we will collect this from you at the next settlement.

Settlement Adjustments

Used for any scenario that is not covered by a specific transaction type already listed. The details of this adjustment will be provided to ensure you understand what it is for.

SMS pre-debit notification

Depending on your service type, you may have this additional feature turned on. It is a notification sent to customers to advise them of their upcoming debit.

Principal Fee Refund

Used if we ever need to credit fees back to your business that had been previously paid.

Global Fee

Used to collect unpaid customer paid fees from businesses after 90 days.

Partner Payments

Any third party we need to pay on your behalf via the settlement process. You need to complete a co-signed Partner Payment form to set up this feature.


Here are some examples
What you might see on the report for different customer billing scenarios


1. A customer appears with multiple debits

Depending on your settlement frequency, a customer may have more than one direct debit in the collection period, e.g. if your business has a monthly settlement and a weekly paying customer, this customer could appear up to five times in one settlement report.

2. Customers were billed but no report was generated

If your business has a negative balance (there are more deductions than revenue), this balance will be carried forward to the next settlement run. No settlement report is generated because the purpose of this report is a statement to reconcile funds received (you haven’t received funds into your account therefore we cannot produce a report to reconcile). Please contact the customer service team for more information.

3. The number of customers billed by Ezypay in the collection period was less than what you were expecting

The total number of customers you have at your business is not a direct reflection of the number of customers Ezypay will debit in the specified collection period. There are a number of reasons why Ezypay does not bill an active customer in your database. They include:

  • They have a failed payment from a previous debit and were not billed this time around.
  • They have invalid account details or withdrawn debit authority so we cannot access their account.
  • They have paid you in full for the product or service.
  • The customer paid you for the upcoming debit through your POS.
  • The debit has been removed, e.g. they are on suspension.
  • The debit has been changed to a new date outside the collection period (they may appear twice in the next settlement).
  • The customer has a future start date or you may not have loaded them onto Ezypay just yet.

4. A customer appears in multiple sections of the same report

This is because there has been more than one transaction type for that customer during that collection period. Some common examples are:

  • A customer is loaded and billed in the same collection period where the load fee is charged to the business. You will see a transaction under load fee in deductions, where because the customer is debited, and also a transaction appear under debits in revenue.
  • A customer as a debit and failed payment, and possibly even a rebill or recovered payment in the same collection period. Each of these will be listed separately in the appropriate sections.

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