In A2X for Shopify, the eWay payouts are generated as per the data fetched from Shopify. The expected deposit amount that A2X allocates to the clearing account per eWay payout will generally balance exactly to the amount that eWay deposits into your bank account. This is because with eWay, your merchant fees are generally paid completely separately from your payout or settlement statements.
This guide will explain how to confirm that the A2X payouts balance back to your eWay bank deposits as they pass through your gateway clearing account.
This is the flow of events for balancing your eWay clearing account:
Throughout the month, A2X is posting the eWay payout total or 'expected deposit amount' to the Gateway Clearing account.
Throughout the month, your eWay deposits are received into your bank account. These deposits are allocated to the Gateway Clearing account to offset the balance entered by A2X.
At the end of each month, the clearing account should have netted back to Zero.
Please Note: On the odd occasion, the difference in the Gateway Clearing account may also be caused by a carry over balance for a transaction that hasn't cleared yet.
If we put the above flow of events into numbers:
A2X has allocated an amount of $4,509.96 to the Gateway Clearing account for the month of November and December 2019.
We have allocated all eWay deposits throughout those two months to the Gateway Clearing account - the total of the eWay deposits for the month is also $4,509.96, therefore our clearing account nets back to $0.
Your A2X payout totals can be checked directly against the Shopify finances summary report or even directly within your eWay merchant account.
In Shopify, you can run a finances summary report for any given period to compare payout totals:
Example:
In your MYeWay portal, you can run a settlement totals report for any given period to compare payout totals:
If you have further questions on balancing A2X entries, our support team is standing by to assist. Contact us anytime at contact@a2xaccounting.com
References:
eWay. 2020. Reporting - Settlement Reports. [ONLINE] Available at: https://www.eway.com.au/features/reporting/reporting-settlement-reports/.
[Accessed 2 March 2020].
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