IC+ Braintree Marketplace Statements and Reconciliation

Statements

Statements are available in the Control Panel. To access your statements:

1. Log into the Control Panel
2. Click on Reports in the navigation bar
3. Click the Statements tab

The statement includes:

• A summary page
• Detailed breakdowns of your
  • Master merchant disbursement
  • Escrow (if applicable)
  • Refunds
  • Chargebacks
  • Sub-merchant disbursements
• A key for important terms and column headers

Summary page

The summary page will include some or all of the sections outlined below.

Master Merchant Summary

The Master Merchant Summary section of your statement is a quick way to view your gross service fees along with any refunds, credits, or fees, and the net amount that was disbursed to your master merchant bank account for that statement period.

Fee Details

With the IC+ pricing model, you’ll be charged two sets of fees—the interchange fees that come directly from the card associations (also referred to as pass-through fees), and Braintree fees. The details of these fees are broken out into sections on your statement’s summary page.

Interchange fees are billed based on when the transaction settled, while Braintree fees are billed based on when the transaction was disbursed. Regardless of when the fees were calculated, both your interchange fees and Braintree fees will be debited on the second Tuesday of the following month in two separate withdrawals. Learn more about the different types of fees.

Braintree Fee Details

The Braintree Fee Details section breaks down the different fees that were charged to your account and identifies the quantity for each. You’ll also find any credits to your account for full refunds, chargebacks you have won, and promotions that were applied to your fee calculations.

• The Discount row will display the total volume of Visa, Mastercard, JCB, and Discover transactions, along with the Braintree fees that were applied based on your discount rate
• The American Express Discount row will display the total volume of Amex transactions along with the discount rate fees
• The Per Transaction Fee row will display the total number of all transactions, regardless of card type, along with the per transaction fee that was assessed for those transactions

Pass-Through Fee Details

Interchange fees encompass all of the various processing fees set by Visa, Mastercard, Amex and Discover. We pass these fees on directly to you, which is why we refer to them as pass-through fees.

This section of the statement displays total volume by card type and the associated interchange fees. These fees are consolidated on your statement, but actually represent various smaller fees. The breakdown of each specific fee will be available by the end of the third business day of the following month in the Pass-Through Fee Report, which can be found in the Control Panel. To access the Pass-Through Fee Report:

1. Log into the Control Panel
2. Click on Reports in the navigation bar
3. Click the Statements tab
4. Select the Pass-Through Fee Report for the desired month

Pricing Schedule

The Pricing Schedule identifies the Braintree processing fees for your merchant account. This includes the discount rate and the per transaction fee, as well as the chargeback fee. Interchange fees are not included in this section.

Reconciliation

Most Braintree Marketplace merchants reconcile by comparing the Master Merchant Disbursement Details—which can be found on the second page of your Braintree statement—to the deposits they see in their bank accounts.

To help your individual sub-merchants reconcile, you should use the Disbursement Summary or an advanced transaction search.

Master merchant reconciliation

The Master Merchant Disbursement Details—which can be found on the second page of your Braintree statement—displays the gross service fees that you collected from your sub-merchants. It calculates any refunds, chargebacks, or fee credits, along with Braintree’s fees, to determine the Total Disbursed to your master merchant bank account.

The Date column reflects when we disbursed the funds to your bank. These funds should be reflected on your bank statement within 1-2 business days of the disbursement date. The Total Disbursed column will match the deposit you see on your bank statement.

Sub-merchant reconciliation

Your Braintree statement displays the total revenue for all sub-merchants, so you’ll need to use alternative tools in order to help an individual sub-merchant reconcile.

For multiple sub-merchants

To help multiple sub-merchants reconcile, search for transactions filtered by disbursed date:

1. Log into the Control Panel
2. Click on Transactions in the navigation bar
3. Scroll to the Transaction Search section
4. Choose either All Sub-merchant Accounts, or enter the desired sub-merchants
5. Above the date section, uncheck the box next to Creation date range
6. Check the box next to Disbursed date range
7. Select your desired date range
8. Click the Search button
9. Click the Download button at the top of the page
10. Open the CSV file in the spreadsheet program of your choice

From there, you can categorize the report by the Merchant Account and Disbursement Date. The Amount Submitted For Settlement minus the Service Fee will equal the amount that was disbursed to the sub-merchant for that transaction. If you add up the disbursed amounts for all of the transactions on a given disbursement date for a specific sub-merchant, this should match what that sub-merchant sees deposited into their bank account.

For a specific sub-merchant

To help a specific sub-merchant reconcile, use the Disbursement Summary and add your own service fees. Only users with the Create, Run, and Download Reports role permission can access the Disbursement Summary. To run this report:

1. Log into the Control Panel
2. Click on Reports in the navigation bar
3. Scroll to the Transactions section
4. Next to Disbursement Summary, click the Run Report button
5. Select the desired merchant account and date range
6. Click the Run Disbursement Summary button
7. Click the Download .Csv button at the top of the page
8. Open the CSV file in the spreadsheet program of your choice

The report will be separated by card type so you’ll need to use the totals from each day. Service fees are not included in the Disbursement Summary so you will also need to add those to the spreadsheet, then subtract them from the values found in the Total Amount column. This calculated value should match what that sub-merchant sees deposited into their bank account.