This guide explains how to understand the Reach report settlements.

Accessing a Reach settlement report

Follow the steps below to access the settlement report.

Sign in to Reach Admin.
Click Reports in the left navigation menu. The Reports page will appear.

Reports page
Click a settlement report link to download it, or right-click it and select Open link in new tab to access the report.

Settlement report

For more information, see the Reports tutorial.

Understanding the Reach settlement report

The transaction date on the platform may differ from the deposit date with Reach, and the T+X settlement period (e.g., T+4 days) starts counting after the deposit date.

The End Time in the Reach Admin portal represents when the transaction concludes, and Reach receives the funds.

Our settlement schedules, which follow business calendar days, provide a predictable and reliable framework for your financial planning. Payouts are typically processed twice or thrice a week, and for bank holidays, Reach moves payments to the next business day.

Depending on your business location, we generally send our settlement payouts via Wire transfer and Automated Clearing House (ACH). If not, your Reach representative will discuss your settlement payout beforehand.

Reach settlement report sample

To download our settlement report sample, click the button below to go to the report and then click the Download Download icon icon.

Click here to download the settlement report sample

Explanation of the Reach settlement payout

The settlement report contains important columns, such as LINE TYPE (Transactions, Refunds, Adjustments), ORDER ID, MERCHANT ORDER ID, etc. All reports contain sell currency, settlement currency, FX rates if applicable, fees, final settlement amount, and other data relevant to the transaction. The glossary describes the terms used in the settlement report.

The following image shows some of the most important sections to understand when viewing your generated settlement reports.

Sell and settlement currencies

The SELL CURRENCY and SETTLEMENT CURRENCY columns show the customer's purchasing currency and settlement currency you received. The settlement currency is the currency that arrives in your bank account.

Taxes

The SELL AMOUNT - TAX column lists the taxes applied to the purchase. These can vary significantly depending on the consumer's billing address.

Reach fees

The FEE - PROCESSING, FEE - FRAUD ENGINE, FEE - FINANCING, and FEE - REFUND columns indicate the fees applied to the transaction and their origin.

Net amount

After applying all fees, taxes, exchange, and settlement, the NET AMOUNT column shows the final value.

FX rate

Reach’s industry-leading wholesale foreign exchange (FX) rates show the rate when the settlement occurred. See FX RATE for more information.

The Reach settlement payout process

The Reach platform's settlement payout process focuses on cash flow management and settlement reporting. It details how the settlement process works, including key timelines and factors affecting payments, and aims to help users understand settlement reporting.

Prerequisites

Key prerequisites include:

Go-live date: Monday, October 7th
Payment agreement: T+4 (Business days only, excluding weekends and holidays roll into the next business day)
Payment schedule: Mondays and Thursdays

Settlement days breakdown

The topic provides a breakdown of settlement days, for example:

For transactions received on October 7th, T+4 falls on Friday, October 11th. Since the payout scheduled for Thursday, October 10th, was missed, it will now occur on Monday, October 14th.
The payout for transactions received on October 8th will occur on Monday, October 14th.
Reach will settle transactions received on October 9th, 10th, or 11th on the Thursday, October 17th payout.
Reach will settle transactions received from October 12th to 15th on the Monday, October 21st payout.

Settlement sequence (ideal)

The ideal settlement sequence is:

Monday Settlements: Transactions from Saturday to Tuesday.
Thursday Settlements: Transactions from Wednesday to Friday.

Standard Reach settlement methods

The following columns will appear in the settlement report.

LINE TYPE

This column indicates the type of transaction, such as Payments, Refund, Adjustment, or Transaction. On the last row, the "Net Total" indicates that each entry in that row will contain a sum of the corresponding column for all Transactions, Refunds, and Adjustments included in the report.

ORDER ID

The Reach identifier for the order that contains the transaction(s). Searchable in Reach Admin as the order ID (Searching in Admin).

MERCHANT ORDER ID

The supplier-provided ID for the order.

REFUND ID

The Reach external identifier for the refund (if any). Can be searched for under the Refund ID in admin, details included in the Refunds section of the Payment Details window.

MERCHANT REFUND ID

The supplier provided the ID for the refund (if any).

TAX TRANSACTION ID

The Reach-assigned ID for the tax transaction, irrespective of tax processing source (e.g., Avalara, ShopTax, etc.).

ORDER DATE

The date the consumer placed the order in the supplier's store.

PAYMENT METHOD

The method of payment, e.g., AMEX, PayPal, etc.

SELL CURRENCY

The three-letter ISO code represents the currency consumers use, specifically the currency sold on the foreign exchange (FX). Examples include USD, CAD, GBP, AUD, EUR, etc.

SELL AMOUNT - SUBTOTAL

The transaction amount in the currency the consumer paid with (SELL CURRENCY), excluding tax.

SELL AMOUNT - TAX

The tax on the Sell Amount Subtotal. A positive value appears when a transaction has taxes levied against it, and a negative value occurs when the tax is refunded. For instance, the sign ensures that adding it to the subtotal results in the total. For example:

The sign will generally be the inverse of this on the settlement side because the tax was withheld from the settlement total. The extent of these details is clearer when looking at an example:

Sell amount subtotal: 100
Sell amount tax: 10
Sell amount total: 110
FX rate: 1
Settlement amount total: 110
Settlement amount tax: -10
Gross amount settled: 100

SELL AMOUNT - TOTAL

SETTLEMENT CURRENCY

The three-letter ISO code for the currency for settlement with the supplier, specifically the currency purchased during foreign exchange (FX). Examples include USD, GBP, CAD, AUD, EUR

FX RATE

The foreign exchange (FX) rate used for any trade done by Reach to convert the sell currency to the settlement currency. A value of 1 or null denotes like-for-like processing.

SETTLEMENT AMOUNT - TOTAL

The transaction amount converted into the settlement currency (SETTLEMENT CURRENCY), including tax. Reach uses this value to calculate any volume-based fees.

SETTLEMENT AMOUNT - TAX

The TAX amount is a component of the overall SETTLEMENT AMOUNT - TOTAL. SETTLEMENT AMOUNT - TOTAL - SETTLEMENT AMOUNT TAX = SETTLEMENT AMOUNT GROSS. This is the SELL AMOUNT - TAX converted into the Settlement Currency.

SETTLEMENT AMOUNT - GROSS

The transaction amount in the settlement currency (SETTLEMENT CURRENCY), net of tax.

For Example:

SETTLEMENT AMOUNT - TOTAL: 50 USD
SETTLEMENT AMOUNT - TAX: -5 USD
SETTLEMENT AMOUNT - GROSS: 45 USD

FEE - PROCESSING

Reach charges the processing revenue fee to the supplier.

FEE - FRAUD ENGINE

Reach charges the fraud coverage revenue fee to the supplier.

MERCHANT MARKUP

The supplier requested the foreign exchange (FX) revenue as markup if Reach trades the transaction.

FEE - FINANCING

Reach charges the financing revenue fee to the supplier.

FEE - REFUND

Reach charges the refund revenue fee to the supplier.

FEE - TRANSACTION

Reach charges the transaction revenue fee to the supplier.

FEE - TAAS

Reach charges the tax revenue fee to the supplier.

FEE - PASSTHROUGH

This fee passes to the supplier from the Payment Service Provider (PSP) through Reach.

RESERVE HOLDBACK

Reach charges a percentage of each transaction from the supplier as a security deposit.

NET AMOUNT

This value is the amount remitted to the supplier by Reach, with all fees and taxes deducted.

Example:

Settlement Amount Gross: 45.00 USD
Processing Fee: 2.00 USD
All other fees: 0 USD
Net Amount: $43.00 USD

SETTLEMENT DATE

On this date, the supplier will receive a settlement equal to the Net Total in the bottom row of the settlement report.

PROCESSED DATE

The date the transaction was completed and entered into the system.

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Note
For Shopify, this is the date when Shopify sends the payout to Reach. See Payout date vs. PROCESSED DATE for more information on the Shopify payout.

PLATFORM ORDER ID

The payment platform-provided ID for the order (e.g., Shopify).

PSP TRANSACTION ID

The payment service provider's (PSP) transaction identifier.

NOTES

A field for text notes, if any. Often includes details about chargebacks or the fee for a chargeback. If the net total from the previous settlement report was negative, this notes section includes details about the balance carried forward on the Net Total row of the report.