BlockChyp: Credit card reconciliation

To maintain accurate accounting and to catch and fix problems before they affect your business and customer relationships, you must reconcile your Paladin, debit, gift, and credit card sales with your credit card processor’s records every business day.

Important: BlockChyp accounts have their fees assessed at the end of a statement period.

To reconcile Paladin and BlockChyp, perform the following:

1. A daily Credit Card Deposit report should be run in Paladin and compared to the values of the corresponding daily batch in the BlockChyp Portal. For instruction on creating this report, refer to: Credit Card Deposit Report
2. The Grand Total value in Paladin’s Credit Card Deposit report should equal the sum of the Captured value and Refunded (Debit and Gift cards) values found in the BlockChyp Batch Details section of the BlockChyp Portal for the corresponding day.

Figure 1: Paladin and BlockChyp Grand Total match

3. The amount of funds you receive into your bank account equals the Captured value less the Daily Fees value found in the BlockChyp Batch Details section of the BlockChyp Portal. This total should match the Deposited value under Batch History for the corresponding day.

Figure 2: Captured value vs. actual deposited amount