This guide explains how to understand report settlements on the Reach platform and how each transaction works. By understanding the components of these reports, users can better manage their finances and quickly reconcile their accounts.

Accessing a settlement report

1. Sign in to Reach Admin.

2. Click Reports in the left navigation menu. The Reports page will appear.

   

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

   

For more information, see the Reports tutorial.

Understanding settlement reports

The transaction date on the platform may differ from the deposit date with Reach, and the T+X settlement period starts counting after the deposit date.

The End Time in the Reach 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 the settlement payout option with you beforehand.

Settlement report example

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.

You can download and use the standard settlement report from the Reach Admin Portal via admin.withreach.com as needed. To download a ZIP file containing a settlement report example, click download file and click the Download icon.

Explanation of 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. Other deductions may be included in the report and are listed below.

Net amount

The Net Amount column shows the final value after applying all fees, taxes, exchange, and settlement.

FX rate

Reach’s industry-leading wholesale FX rates show the rate when the settlement occurred.

Settlement payout explained

Settlement payouts are important for managing your cash flow. This section aims to demystify the nuances of settlement payouts on the Reach platform. The settlement process affects your budget and financial planning. This section will explain how the settlement process works, including key timelines and factors that can impact payments. We want to help you understand settlement reporting so you can manage your accounts with confidence.

Prerequisites:

• Go-Live Date: Monday, October 7th
• Payment Agreement: T+4 (Business days only - weekends and holidays roll into the next business day)
• Payment Schedule: Mondays and Thursdays

Settlement days breakdown:

• For transactions received on October 7th, T+4 lands on Friday, October 11th. Since the payout on Thursday, October 10th, has been missed, the payout will occur on Monday, October 14th.
• Similarly, for transactions received on October 8th, the payout will also occur on Monday, October 14th.
• Reach will settle transactions received on October 9th, 10th, or 11th on Thursday, October 17th payout.
• Reach will include transactions received between October 12th and October 15th in the Monday, October 21st payout.

Settlement sequence (ideal):

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

Standard settlement methods

The following columns will appear in the settlement report.

LINE TYPE

ORDER ID

MERCHANT ORDER ID

REFUND ID

MERCHANT REFUND ID

TAX TRANSACTION ID

ORDER DATE

PAYMENT METHOD

SELL CURRENCY

SELL AMOUNT - SUBTOTAL

SELL AMOUNT - TAX

SELL AMOUNT - TOTAL

SETTLEMENT CURRENCY

FX RATE

SETTLEMENT AMOUNT - TOTAL

SETTLEMENT AMOUNT - TAX

SETTLEMENT AMOUNT - GROSS

FEE - PROCESSING

FEE - FRAUD ENGINE

MERCHANT MARKUP

FEE - FINANCING

FEE - REFUND

FEE - TRANSACTION

FEE - TAAS

FEE - PASSTHROUGH

RESERVE HOLDBACK

NET AMOUNT

SETTLEMENT DATE

PROCESSED DATE

PLATFORM ORDER ID

PSP TRANSACTION ID

NOTES