Transaction on Customer Bank Statement

  • Does the web site a customer purchased from appear on the Customer bank statement – I feel that this is a necessity as already too many customers using Yoco payments simply have the Yoco on the bank stateement. The fees are already deducted and reconciling the transaction to the customer – especially were sale amounts are the same – can be a nightmare – it’s also does not align with good accounting practices.

Viewing 5 replies - 1 through 5 (of 5 total)
  • Plugin Support Bartech

    (@bartech)

    The card holder will see a section of the Merchant’s name on their bank statement. The first 8 Characters are reserved for {Yoco?? *} as mandated by the schemes, then there are 12 remaining characters that will be used from the Merchant’s name. Customer will also see a unique reference number in their bank statement for each transaction, regardless of the amount or whether the merchant was the same.

    Thread Starter mommaroodle

    (@mommaroodle)

    Thats what the customer sees – what does the merchant (web site owner) see on his bank statement – Being an accountant myself and having dealt with many clients who use Yoco – I know from experience that their bank statements only reflect something like this: YOCO YOCO 950AA1 and it reflects like that for every sale – so how can a web site owner who is using Yoco quickly reconcile his sales to his bank statement. Now you have 10 customers who all purchased an item that costs R250 – the monies paid by Yoco into the merchants account is less the fees as well and with a reference like YOCO YOCO 950AA1 for each and every sale it makes it virtually impossible to reconcile the payments to the sales invoices.

    And let me just add – there are web sites who have tens of thousands of rands worth of sales!

    • This reply was modified 2 weeks, 1 day ago by mommaroodle.
    Plugin Author yocoadmin

    (@yocoadmin)

    Hi mommaroodle

    Our payouts are aggregated and paid out daily, and not per transaction. The merchants can sign into their Yoco Business profiles and they will be able to see the sales associated with each payout, in the Sales History menu.

    • This reply was modified 2 weeks, 1 day ago by yocoadmin.
    Thread Starter mommaroodle

    (@mommaroodle)

    Well when I was trying to assist a client login to his Yoco portal, finding the CSV files to download was not that simple – unless these have now changed in the last few months.

    A report should be readily available – payments on the report one should be able to tie up easily to the sales from the web site – a transaction ID of some sort that is unique

    Plugin Author yocoadmin

    (@yocoadmin)

    Hi Mommaroodle,

    Thank you, that’s valuable feedback to receive. Do you mind sharing your contact details so that we can get our support team to get in touch with you directly to discuss the concerns further? They’ll be best to assist you / the merchants further on this topic.

Viewing 5 replies - 1 through 5 (of 5 total)
  • You must be logged in to reply to this topic.