For U.S. Merchant Accounts:

In order to reconcile your transactions processed through CashPractice.com, you will need your business bank account statement and your merchant account statements. To access your merchant account statements from our processing bank, Paya, you will need to go to their website, My Virtual Reports (see below for instructions). We recommend that you log in at least once a month to print your statements and/or view your activity. 

  • For instructions on how to access My Virtual Reports, log into your Cash Practice® account, go to [Systems] → [Auto-Debit System®] →[Resources] → [Merchant Statements]. My Virtual Reports only allows access to the past 18 months of your merchant statements, therefore be sure to save your merchant statements to your computer for future reference.

When you run payments, Paya will deposit your money per day, per merchant account (please keep in mind that you will not receive the deposit on the same day the transactions are run).

  • Credit Card transactions (MOTO & RETAIL) will be deposited to your bank account within 3-5 business days (our bank releases the funds to your bank within 1 business day and then your bank can take another 1-2 business days before the funds post to your bank account). Credit Card transactions (deposits and fees) will appear on your bank statement as "Bankcard Merchant".  
  • Bank Account transactions (EFT/ACH) will be deposited into your bank account within 7-10 business days. Bank EFT deposits will appear on your bank statement as "Paya Repayment". Bank EFT fees will appear on your bank statement as "Paya Month End".

To see the daily deposit totals per merchant account: search Cash Practice® under the Daily Deposit Summary Report, which can be found in Cash Practice® under [Systems] → [Auto-Debit System®] → [Reports] → [Daily Deposit Summary]. You can select any date range from the search options. Only days with activity will appear on the report. The deposits are divided out per day, per merchant account. These daily deposit totals should MATCH the deposited amounts on your bank statement. For more information on the Daily Deposit Summary Report click HERE.

Your merchant account processing fees are withdrawn by our processing bank (Paya) the first week of the month, for the previous month of processing (for example January processing fees will be withdrawn the first week of February, February processing fees will be withdrawn the first week of March, etc.). The fees will show as a charge on your bank statement listed as "Bankcard Merchant". 

When you process Bank Account (EFT/ACH) transactions, they will always be "accepted" at the time they are processed. However just like a paper check, by the time the funds are actually withdrawn, the money may no longer be available and the check (EFT) will be returned (like a bounced check). An EFT return will be updated in your CashPractice.com account within 10 business days of processing. You will receive an email notification advising you when an EFT is returned. The Posted Payment Report Generator in CashPractice.com will provide more details on EFT returns.