Can Cloud Cart automatically match deposits and orders?

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Introduction

Matching deposits and orders can take several hours. If orders are missing or the totals are incorrect, it is almost impossible to determine the issue. Cloud Cart can find matching orders and log missing transactions.

How does Cloud Cart find matching orders?

If you use Stripe, each Stripe transaction has an auto-generated ID beginning with ch. Cloud Cart maps this ID to the QuickBooks reference number and the private notes field. Our tool asks QuickBooks for orders where the first twenty-one characters of the reference number equals the first twenty-one characters of the Stripe transaction ID. If there is more than one match, Cloud Cart will use the private notes field. Since QuickBooks credit memos and refunds have no reference number field, Cloud Cart searches for refunds in the last seven days. Then, Cloud Cart checks the private notes field.

How does it work?

Once a day, Cloud Cart pulls a list of transactions that match your deposit. Cloud Cart finds matching orders and creates a deposit. If the report contains fees, Cloud Cart will add them. In QuickBooks, go to transactions and click banking. You must add your bank account, so QuickBooks will download the transactions from your bank. You will be asked to match deposits and the bank transactions. Next to PayPal, here is the end result:

Without our software, you need to click match and find the orders. Then, add fees. Cloud Cart does that for you.

How can I tell if orders are missing?

Log into Cloud Cart Connector. Hover over the gear and click transaction log.

Can the settlement report be downloaded automatically?

For these providers, Cloud Cart can automatically download the report:

  • Amazon
  • Authorize.NET
  • PayPal (coming soon!)
  • Shopify Payments
  • Stripe

Other payment processors might make their reports available for automatic download. Please contact us about adding them.

Cloud Cart has a scheduled task the runs at 4 am EST. The tool will download the settlement report, add the fees to the deposit, find matching orders, and deposit them. Please contact us to enable the task and to discuss pricing. Here is the form:

StripeDeposit.png

Can Cloud Cart add merchant fees?

Cloud Cart can add the fees to the deposit or on each individual order. To add fees per order, please read this guide. If you had one of these providers, Cloud Cart can add the fees to the deposit:

  • Amazon
  • PayPal
  • Stripe

For Amazon, you need to run the task every two weeks. Please contact us to enable the auto-run. For Shopify Payments, click the advanced tab on Cloud Cart. Under advanced fee settings, enter the fees. Cloud Cart will add the fees to each order. There is no need to add fees to the deposit.

How does Cloud Cart match the orders?

The settlement report has a field called invoice number, order number, or source. If that number, trimmed to twenty-one characters, matches an order Cloud Cart will deposit it. If you use the next number from QuickBooks or a different numbering scheme, please contact us.

Is there a way to manually upload the settlement report and run the deposit manually?

At the Cloud Cart configure page, click match deposits. The form will ask for the settlement report, deposit account and to enable adding fees. If your payment processor is missing, upload a CSV file with a field called order number. Ensure that field matches the order number from QuickBooks.

Can I see a preview of what Cloud Cart will match?

On the deposit page, click the link above the date range. Enter the dates to preview. Here is an example.

What does the deposit look like?

Here is an example with the fees.

What if my refunds exceeded my sales?

If your merchant processor removes funds from your account, your deposit would be negative. QuickBooks allows no negative deposits. Cloud Cart can match the refunds and sales, then add a positive number to bring the deposit to zero. Here is an example.

In QuickBooks, go to transactions and click banking on the left. Find the withdrawal. Assign it to an expense account. Here is an example.

Cloud Cart cannot find X in QuickBooks. Cloud Cart will skip reconciling the order.

Cloud Cart matches the QuickBooks reference number or order number field to the transaction ID. In Stripe, the ID looks like ch_19ld6GAFqXjzdyohHDJVDrfK. For Shopify and WooCommerce customers using Stripe, this field is automatically applied:

If you use another payment processor, please contact us.

What if my deposit is off?

Cloud Cart can create a line item to subtract or add money to the deposit, so it matches your bank register. On the deposit configure page in Cloud Cart, select an account under refund and negative deposit account. Here is an example of Cloud Cart matching the deposit.

The transaction cannot be applied to Deposit. Either Referenced Transactions Account is incorrect or the Transaction has already been applied to another Deposit

In your list of orders to reconcile, one of the orders has been already deposited. Cloud Cart offers no way, at this time, to determine whether an order has been deposited. Here is an example deposited order:

 

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