In this article:
How Does ProPay Batch Funds?
Payment taken
Next Day Funding
📖 Funding is an event entirely controlled by ProPay where money is made available in a merchant’s ProPay account. For credit cards, transactions processed before 5:30 PM ET are funded into your ProPay merchant account on the following business day.
For ACH payments, if the transaction was funded before 5:30pm on a business day - the next business day is a 'hold' day, and then it will be funded the following business day.Sweep to your bank account
📖 Daily sweeps will automatically push all of the money funded into a ProPay account out to an attached bank account that is owned by the merchant (you). Sweeps use ACH, and as such, take a day or two to complete depending on the bank you use.
Deposit into your bank account will match ProPay sweeps- the deposit corresponds to the ProPay sweep for that day.
💡 Use the Sweep Report to view all transactions included in a specific day's sweep.
Gross Funding vs Net Funding
Net Funding (ACH)
Most merchants are set with fees billed using a Net Funding configuration. This means that all processing fees are taken out as the transactions are processed. For example, if the processing fee that has been established is 1% per transaction, and a transaction is processed for $100, $1 would be taken out of the funds processed, and the merchant would receive $99.00.
ACH processing through SingleOps is only offered on a net funding basis. Credit card processing is offered on a gross funding basis.
Your monthly SingleOps Payments merchant statement will summarize all payment processing fees for you for easy reporting and reconciliation.
Gross Funding (CC)
Gross funding is when the merchant receives the entire gross amount processed in a transaction at the time of the transaction. The processor keeps a record of processing fees generated by those transactions throughout the month, and bills your account for all fees in a single lump sum transaction, once per month. In this case, all of the pre-determined processing fees will be charged in one lump sum at the end of the month, or in whichever frequency is determined in the contract. Fees are summarized on your merchant statement for easy tracking.
Steps to Reconcile in SingleOps
Navigate to
Setup > Payments > Payments Setup
Toggle the Account Management tab
Scroll down to the Reports section and find Sweep Report and click the tile to open.
You can also utilize the Transaction Report for more information if needed. If you are unsure of which date to pull for your sweep (deposit of funds to your bank), check the Transaction Report for the sweep dates, and then pull a Sweep Report, for that date.
You can only pull a Sweep Report for one day at a time.
The Sweep Report will include all transactions that were included in that sweep, for the date specified. It may not contain all of the transactions in the same sweep - it will depend on the type of payment, when that payment transacted, etc.