How to: Manual Settlement

Settlement (also called end-of-day cutover or reconciliation) is the terminal’s way of telling the bank that it is the end of the business day for your business. This triggers the bank to send the funds to your bank account on the next business day and is automatically run daily (read more here). You might want to settle your point-of-sale (POS) system simultaneously to make reconciliation between systems easier.

Settlements show:

  • Total amount transacted
  • What types of cards were used
  • How many transactions were completed
  • Any transactions not settled by Smartpay (MOTO or American Express)
  • Total refunds

To run a manual settlement, follow these steps:

  1. From the idle screen, press “Menu
  2. Press “2” to access the Totals menu
  3. Settle “1 – Settlement
  4. Enter settlement password
  5. Your terminal will display batch totals and prompt you to “Settle Now.” Select “Yes
  6. Your terminal will prompt you to “Print Entire Trans List Now.” Select “Yes
  7. Press “Cancel” to go back

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