Settlement Frequency and Bank Account Information:
Settlements can be set to be made daily, weekly, or monthly for direct deposit, or weekly or monthly for recurring checks.
Generally speaking, there is a 2 day settlement period for transactions.
You can change settlement frequency and your bank account information from your WePay Dashboard and by logging into WePay.com. Click Settings > Settlement Details > Change.
WePay Transactions report:
The WePay Transactions report shows a quick view of your Approved, Pending, Refunded, and Disputed transactions (when available) in separate sections. Each event has its own WePay Transactions report.
You'll find the Transactions Report in Reports & Exports in the beta and in the Viewing options in old Ministry Sync in AttendEasy or Easy Reports in FundEasy. It is also available from the [ V ] button menu in WePay Settlement report > Linked events. This report is exportable to CSV.
The Approved tab shows which transactions have been:
Approved to be deposited
Deposited into your account. A green checkmark will show in the Deposited column. WePay calls this a withdrawal from your account at WePay. You can find more information about your deposits from the View Settlement Report link on the Transactions Report page.
This report also shows you which transactions included fees that were covered by the donor.
Pending Transactions are ones that have not yet been approved by WePay. These may take up to 5 business days for some transactions.
The Refunded tab shows the transactions you have refunded.
Not Approved transactions have been disallowed by the processor. The most frequent cause for a transaction to not be approved is entering fake information, like fake email addresses or phone numbers on the payment screen.
Disputed are transactions that the payer disputed and asked their financial institution to recover the funds.
The Transactions Report itself lists the transactions, including the payer information and the amounts. You'll also see a green checkmark icon in the deposited column so you'll know which ones have been deposited into your account.
Settlement Report (formerly Deposit Report):
The Settlement Report shows the withdrawals from your account at WePay and all the transactions that are included in that withdrawal.
Settlement reports are available from within your event from Reports > WePay Transactions > View Settlement Report. You can also access deposit reports from the beta by clicking your logo in the upper right corner > WePay > Settlement Report.
There is a separate settlement report for each soft descriptor (WePay account) that you create. So, if you have different soft descriptors for your walk and your banquet, each will have its own WePay account and its own settlement report.
You can also download individual settlements from WePay.com; however, their settlements do not include all the contact information that the report from Ministry Sync does.
The Settlement Report includes all settlements for your event(s). Because of the amount of data, it may take up to 15 minutes for your report to load. Mouse over the spinner in the report to see the time by which the report should load. Once you have clicked the link for the deposit report, if it's taking a while to load, you can navigate away. The sync will continue while you're off the page. The Settlement report syncs with WePay once a day.
If you have multiple WePay accounts, you can choose the one you want to view from the Active Accounts list on the left. When collapsed, the Active Accounts list is titled "WePay Accounts." Click it to expand the list.
The settlement amount shows a negative number, because your settlement is a withdrawal from your WePay account.
Each row in your settlement report is clickable to show you the details of the transactions in each settlement.
Date - Click the date to see all the transactions that happened on that date.
Withdrawal - this is the total amount withdrawn from your WePay account.
Payment - amount paid by a donor or registrant
Chargeback - amounts that have been challenged by a payer
Refund - refunded amounts
Recovery Attempt - if there are not enough funds in your account to cover a chargeback or refund, WePay may attempt to recover the funds from your bank account.
Amount - the amount of the transaction on the Registration or sponsorship form
Net - the amount that is transferred to or from your settlement account
Fee - the fee amount that is charged to the organization when fees are not paid by the donor. The amount will be $0 for those transactions where the donor paid the fees.
Gross - the total amount the registrant or donor paid
The settlement report also includes contact information for the payer along with who they sponsored and which event the funds were collected through.
Invoice ID - the ID in the profile transaction in Ministry Sync
The entire settlement report is exportable to CSV. Individual settlements can be downloaded by clicking into that row in the settlement report and then clicking Export.
When you export your Settlement report to .CSV it will include all your Settlements. Make sure that you sort the report by Column Q - Withdrawal Date so all the items on your report are batched by the Withdrawal Date and not the Transaction Date. Sorting it by descending will make sure the most recent donations are at the top of the report.
View Settlements or Payments on WePay:
You can also see your settlements on the WePay site.
To see the settlements (deposits) for your event, click WePay Reports in the right corner of the WePay Dashboard and then choose "View Settlements at WePay".
This will take you to WePay.com. From the Reporting tab in WePay on the left, choose Settlements and then click Download to CSV to have that report link emailed to you. This report is similar to the Settlement report in Ministry Sync, but does not contain the complete contact information for the payer.
The Payments tab will show the completed transactions, including payments, refunds, chargebacks, and settlements. Where it shows "Settlement from," this is the money from your Payment Account in WePay sent to your bank account or to you by check depending on your settlement method.