Use Case: Retrieve Active Merchant Account Balances

Owned by Miles Graves
Feb 09, 2024
4 min read

You can see the account balances for each Merchant account in your portfolio at one time. This is useful for internal reporting and Merchant metrics tracking such as sales volume. This tutorial will walk you through the steps to generate a Balance Details report with the appropriate settings to see Merchant balances across your portfolio at once.

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View of the Create Reports page with the Balance Details report and relevant settings selected.

 

Objective

Generate a Balance Details report to see all active Merchant balances at once.

Audience

  • Facilitators

  • Referrers

Environment

  • Portal (Production)

Prerequisites

Prerequisites:

  • You must have a fully boarded Payrix account to perform any of the actions described in the use case guides.

Warnings

Warnings will provide insight or advice to avoid risk, visibility, and overall product performance issues during this use case.

Warning: Running too large of a date range may cause delays in generation and make consolidating Merchant totals more difficult.

Tips

Tips will provide suggestions to streamline or better prepare you to apply this use case tutorial.

Additional Resources

See the tips below to help you get started.

  • See Reporting Values for a table with descriptions of data shown on various reports to help better interpret the report for reconciliation.

Retrieve Active Merchant Account Balances

1: Access the Reports Page

  • Step 1: Click the PLUS icon next to Reports in the left-hand navigation panel to open a drop-down menu.

  • Step 2: Click Create Reports in the Users drop-down menu to open the Reports page.

2: Configure your Balance Details report

  • Step 1: From the Select Report dropdown, select Balance Details report.

  • Step 2: For “How would you like to generate your report?”, select “Include all up-to-date data”.

  • Step 3: In the Report Date dropdown, select Today.

  • Step 4: (Optional) In the Templates dropdown, select a previously saved report template or create a new one from the parameters being set by clicking the “Add Template” button within.

  • Step 5: Click the Generate Report button to begin generating your Balance Details Report.

  • Step 6: Click the CSV or XLS download icon in the upper right-hand corner of the page to download the report to an Excel-readable format.

3: Sorting Balances by Merchant

  • Step 1: In Excel, (or another spreadsheet software) create an A to Z sorting filter on the Entity column, grouping each Merchant’s entries by Merchant.

  • Step 2: Insert a new row below each grouping of Merchant entries.

  • Step 3: Create a SUM function in the blank row under the Total column to calculate the daily balance of each Merchant.

Result: With the resulting totals of each Merchant’s entries, you can quickly identify top-performing Merchants by balance or see trends of other Merchants with low volume or balances daily.

Next Steps

Once you have validated the daily balance of each Merchant in your portfolio, review the following use case guides for additional information on related topics:

Conclusion

After generating the Balance Details report and performing the validation of Merchant balances, you’ll have a clearer understanding of the financial health of your Merchant portfolio as a whole.

References

Click the links or items below to access any of the following pages: