When a credit card payment is taken at your terminal, the charge is either approved or declined almost immediately. The actual processing of that charge will not happen right away, however. All approved charges are saved and sent out for processing together in a batch. The Batch Settlement report, which can be found under Reports > Payments > Settlements, allows you to track when those batched transactions are processed and funded.
The report will list the following for each settlement:
- Shop location
- Number of transactions contained in the batch settlement
- Total dollar amount of the settlement
You can also see a summary of the settlements by card type which will show:
- the amount captured as sales
- the amount refunded
- the fees paid for those transactions
- the final amount settled into your account
Each settlement will show one of the following statuses:
- Paid: The settlement has been processed and the funds have been sent from Lightspeed Payments to your bank, but may not yet have been processed by your bank and deposited into your account. Please allow 1-2 business days for the funds to appear.
- Pending: The settlement has been processed but the funds have not been sent to your bank yet.
- Error: Something has gone wrong during the processing of your batch. For example, a transaction in that batch may not have been approved.
You can click on any given date in the report to see a more detailed summary of the transactions contained therein:
The Captured Transactions section will show a breakdown of the sales that are included in this settlement. There you can see:
- the last four digits of the card used
- the shop location
- the SaleID of the sale in Lightspeed Retail
- the dollar amount of the transaction
The list of sales can be exported to a csv file by clicking the Export button.
Generally, the timeline for processing a card transaction from the moment that transaction is approved at the register to the moment the funds are deposited into your account is about two business days. For an overview of this process and to better understand when you'll receive your funds, you can read our article on Getting Paid.