How to reconcile the month in Mews Operations

Reconciling payments in Mews Operations helps you match payments received with bank transfers to ensure accurate financial reporting. You do this at the end of each month to track charged, settled, and transferred payments. This process happens in Mews Operations, where you can generate reports to reconcile payments with bank transactions.

 

To reconcile the month in Mews Operations:

 

1. Generate a charged payments report:
   • To generate this report, set the following filters in the Payment report: 
     • Mode: Created 
     • Status: Charged 
     • Start Date: First of the month at 00:00 
     • End Date: First of the next month at 00:00 
     • Filter: Gateway Credit Card 

          Note: This report,

• • • shows all payments made within a specific month.
    • contains payments awaiting confirmation or payout.

 

2. Generate a settled payments report:
   • To generate this report, set the following filters in the Payment report: 
     • Mode: Settled 
     • Status: Settled 
     • Start Date: First of the next month at 00:00 
     • End Date: Seventh of the next month at 00:00 
     • Filter: Gateway Credit Card 

          Note: This report,

• • • includes all payments settled and transferred within a selected timeframe.
    • contains transactions from both the current and previous months.

 

3. Review the charged payments report from Step 1 to view all payments taken through Mews for the selected month. 
4. Compare this report with your bank transfers. If the total amounts do not match, this is because the system has not settled or transferred payments by the end of the month.
5. Review the settled payments report from Step 2 to find transactions that customers paid in the previous month but you received in the bank in the following month.
6. Remove any payments from the settled payments report that the system did not charge in the previous month. This gives you the final total for the payments received in the bank for the month. 
7. Use the Payout report to track all initiated payouts and check when your payment processor, for example, Stripe, expects the bank to receive them.

Note: Some payments may appear in a different month's settlement depending on when the system completes and transfers the transaction.

 

You can now reconcile the month in Mews Operations.

 

Additional resources:

• Help articles:
  • The Payment report
  • The Payout report