The short answer
Reconcile by matching each batch to its deposit, recording gross sales and processing fees separately rather than booking the net, and reviewing chargebacks and refunds as their own lines. Daily gross settlement with monthly fee billing makes this far simpler than net settlement.
Gross versus net settlement
Net settlement deducts fees from each deposit, which obscures both revenue and cost. Gross settlement deposits full sales and bills fees separately once a month — better books, clearer effective rate.
Automate the match
Modern platforms sync deposits into QuickBooks or Xero with fees split automatically. That removes the most error-prone hour of the bookkeeping month.
Key takeaways
- Never book net deposits as revenue
- Prefer gross settlement with monthly fee billing
- Automated sync eliminates the worst manual step
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