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Bank Settlements and Revenue Reconciliation

Updated on May 18, 2019

Using Troly to process credit card payments means you are building a stronger business.

  • Gain access to industry-leading merchant rates
  • Securely store card details for repeat transactions
  • Automate the work of charging multiple cards at once

Applies to Troly Gateway Only

This article only applies to your account if you are using the Troly Gateway for processing card payments. If you are unsure, contact your account administrator.

That’s our sales solution in brief, but let’s look now at what it really offers in-depth.
To show you the clear-cut benefits using Troly will bring to your business:

Sales Transactions (green)

Troly records transactions from multiple sources, including your Website, Cellar Door (POS), Club Runs (backend), etc.

Order Payments (yellow)

A payment is recorded in Troly for each order prior to being processed. Online payments using MasterCard / Visa / Amex are transacted via our secure payment gateway. EFT payments, as well as cash, cheques or bank payments, are transacted outside using your existing facility.

Bank Settlements (orange)

Funds for EFT, cash, cheques and bank transfers are received from your staff, clients and banking provider directly into your account.

Funds for payments processed through our integrated gateway are sent from our banking partner to your account on the next business day. In most cases, funds will appear in your account the same day. We advise up to 5 business days for transfers to go through.

You can access a list of all funds transferred to you in the End of Period report. In the Expected External Deposits section of the report, you’ll see all the funds expected to be received in your bank account including: bank transfers from Troly.io, EFTPOS, Cash and Offline payments.

Accounting (purple)

If you’re using Xero for accounting, all sales values and expenses breakdown are pushed on a daily and monthly basis, respectively. The sums pushed match exactly funds remitted allowing you to automatically reconcile all transactions.

If you are not using Xero, the End of Period report allows you to get the same figures to be entered directly into your accounting system, as required. Additionally, please get in touch with us to establish whether Troly could connect your accounting system directly.

To read more about the End of Period report, take a look at our Understanding End of Period Report article.

Processing Time

While Troly remits funds over to you daily, it’s a reality some banking providers won’t operate on public holidays, bank holidays or even weekends. As a result, some transfers from Troly may be held for processing, and appear in your account simultaneously with other transfers. (how to configure Xero?).

How a Typical Transfer Journey Works

  • Day 0: Your customer’s credit card is charged (this is when you confirm the order payments in Troly)
  • Day 0: Troly reconciles the payments, the sales are processed and they show in your End of Period report in Troly.
  • Day 1: Your customers payments are being processed. It requires 24 hours maximum for the funds to flow from your customers cards to Troly’s bank partner.
  • Day 2: The funds are sent from our banking partner to your bank account. This is when we send the ‘Bank transfer completed’ email to you. This email is sent to inform that the money is on its way to your bank. From there, it takes up to 5 business days for the money to land in your bank account.

Your Time is Precious, Transact with Troly

At this point you’ve read through what we offer. It’s now time to tell you why we offer it.

At the core of our sales solution is a recognition your time is valuable, and you need a platform you can depend on. By using Troly, all your transactions will be speedy, secure, and effortless.

At its heart, Troly seeks to assist liquor producers to do what they do best: produce liquor!
That’s why our sales solution exists, and why it’s ready and waiting to be used right now.

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