Bank Reconciliation - Braintree Payment Gateway - Reporting

Hi Guys,

I wonder if the Quickfile community can help us with a conundrum we have regarding bank reconciliation.

We are a small business and use Quickfile, integrated with our website using an API. We are working on 17/18 accounts and have had circa 3000+ sales invoices pushed to Quickfile from the website. The sales invoices are automatically marked and tagged as paid, with the transaction ID being the defining factor. We accept multiple payment methods (the usual BACS, PayPal, Cheque etc…).

We have just completed a bank rec for our bank account and PayPal account, with relative ease. We use ‘Braintree’ as our payment merchant gateway and we have come across a few challenges surrounding reconciliation.

In QF we treat Braintree as a bank account, the problem being that from a reconciliation perspective, Braintree doesn’t provide statements in a conventional format, as by default they are not a bank account and are predominately a gateway just pushing money into our business current account in daily batches.

Their monthly statements pretty much summarise daily bank dumps (settled amounts) and transaction fees. We have replicated these transactions in QF as internal transfers from one account to another and have accounted for transaction fees as a one off monthly payment to supplier (Braintree being the supplier).

The problem I have is because we have no running statements, I wonder if there is a) a work around for this, so that we can reconcile the Braintree account as you would for any other bank account and b) is there a more effective way of filtering the sales ledger (Invoice management), with the criteria of a given financial year and more importantly payment type/account i.e. Braintree, so in effect I can view all sales invoice paid into the braintree account for a given year. (I believe I have achieved this by filtering the Braintree account by financial year, then sub filtering using credits only).

What I am asking the QF community is is there a better or more effective way of reconciling merchant payment accounts, when you are trying to find errors, missing transaction, incorrect refunds, end of year trade debtors, when you don’t have granular monthly statements from the gateway provider.

Many thanks in advance for your help.

Regards Andy

Hi @Andy_B

Firstly, the set up you’re using sounds correct - Braintree would in effect be a bank account, the same as PayPal, Stripe etc.

Secondly, I’m not familiar with Braintree, but hopefully I can offer general guidance. I’m aware Braintree is part of PayPal, so do they offer a running summary of transactions, like PayPal does, e.g. a list of transactions in and out? Or, do they provide a daily or weekly summary at all (e.g. amount collected in that time period, amount paid out in that period)?

I’d be inclined to say this would be the best data to check it against and use the recon tool in the bank account to match it up.

The other thing that may help, is while you’re not able to show the invoices paid from a particular bank account, you can view a list of payments, although not filtered by the bank account it originates from. This can be found by going to Sales >> View payments.

I hope this helps?

Thanks Really Appreciate the guidance!

Warmest Regards