How to Reconcile Using MSOA
As a continuation of last month’s article on utilizing Merchant Services Online Access (MSOA) in business operations, in this edition we will discuss how to utilize MSOA during reconciliation. Reconciliation when out of balance can be time consuming if you’re not familiar with the resources available to help you.
If you are out of balance, it is important to double check for any missing information and learn how to utilize the available tools in MSOA:
- View MSOA Message Inbox: If any large-scale issues occur that may impact reconciliation, a message will be sent to MSOA users.
- Check Chargebacks Report: Chargebacks can account for discrepancies and may appear as though a merchant is out of balance.
- Check Transaction Times: Transactions that occurred near midnight may be included on the wrong day. Bank holidays and weekends can also cause delays in payment.
- Check Month-End Statements: Review post dates on month-end statements carefully as miscellaneous fees/credits are posted throughout the month.
- Check Deposit by Store Report: The amount that accounts for being out of balance may be a combination of several deposits across all sites.
- Check Number of Transactions: If the number of transactions on the day(s) out of balance are different between MSOA and the POS report, refer to the Transaction Detail Report to identify missing transaction(s).
For more information about MSOA or questions about reconciling when out of balance, please contact CHS Payment Solutions at 800-852-5301.
