Can Connex automatically match deposits and orders?

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. Connex can find matching orders and log missing transactions.

How do I enable the feature?

For Stripe users, add a connection. At the end of the install wizard, complete the form:

mceclip1.pngFor all other users, login to Connex. Click orders > match deposits. Choose your connection. 

 

 

In the match deposits form, what is the function of each field?

When you set-up the auto matching of deposits, you will see these fields:

Field Name Description
Begin Date for Search If you wanted deposits from June 1 to June 3, this value is June 1.
End Date for Search If you wanted deposits from June 1 to June 3, this value is June 3.
Deposit Account To The bank account in QuickBooks that is connected to your live bank account. The account type must be bank in QuickBooks. 
Fee Deposit Account To Connex will add your merchant fees on the deposit. This account tracks the merchant fees. This account is of type expense. 
Received From for Fees A customer or vendor vendor in QuickBooks.

When deposits are matched, there is a line item at the end for fees and the amount is negative. Here is how the fee deposit account and received from fees map:

deposit_bottom_example.png

How does Connex match the orders?

For Stripe, our software matches order by Stripe transaction ID and order date. Our software places the Stripe transaction ID into the sales receipt or payment memo field. Connex will pull all payments or sales receipts within 7 days of the deposit. If there is a match between the memo and Stripe reference numbers, then Connex will locate the sale.

For Shopify, our tool matches sales by the Shopify order number.

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

At the Connex 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 Connex will match?

On the deposit page, click the preview button:

mceclip0.png

What does the deposit look like?

Here is an example with the fees.

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. Connex offers no way, at this time, to determine whether an order has been deposited. Here is an example deposited order:

 

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