How do I reconcile Maxio Payments deposits to my bank account?

Maxio Payments groups each day's payments into a deposit, deducts fees, and syncs a matching deposit record to your general ledger. To reconcile, tie each bank deposit to the payments inside it using the processor's transaction IDs.

Scenario

“Our auditors want to see how the money our payment processor collected ties to what landed in our bank. The portal shows an opening balance I can't explain, and one deposit keeps pulling in the wrong payment. How do we reconcile this?”

How payments become deposits

Maxio Payments processes payments throughout the day. At the end of the day, it groups them, deducts processing fees, and deposits the rest to your bank account on file. A matching deposit record is created in Maxio Core and synced to QuickBooks or NetSuite, so it lines up with your bank feed.

Read the portal balance

Opening Balance + Net Change − Deposits = Closing Balance

The opening balance carries forward everything that happened before the selected date range, including payments, refunds, chargebacks and disputes, processing fees, payouts, and other adjustments.

Export deposit detail for an audit

You can export the following detail from the payments portal:

• Deposits: each row shows the Transfer ID, status, gross amount, fees, net amount, currency, and booking date. Open a deposit to see its Deposit Items, the individual payments inside it, and export them. You can add an FX Rate column.
• Refunds and disputes: review them on their own tabs in the payments portal, filter by date range, and export.

Match deposit items by transaction ID

The same payer can pay several customer accounts on the same day for the same amount. Never match a payment to a deposit by payer, amount, or date alone.

To confirm a deposit item

1. Open Deposits in Maxio and select the deposit.
2. Under Deposit Items, open the transaction and note its unique transaction ID, customer account, and deposit ID.
3. Open that customer's payment record and confirm the payment reference and invoice.
4. Include the payment only when the transaction, customer account, and invoice all agree.
5. If another payment has the same payer, amount, or date but belongs to a different customer or invoice, don't substitute it. If you can't resolve the item, contact Maxio Support.