Batch Report

A "Batch Report" is a detailed summary of all the transactions processed within a specific period, typically a day. It includes information on successful payments, refunds, voids, and other operations that occurred during that period. Batch reports are often generated by point-of-sale (POS) systems or payment gateways to provide a clear record of the financial activities.

Key points about a Batch Report:

Collection of Transactions: The report consolidates all transactions processed in a given batch, which may include sales, refunds, voids, and adjustments like tips.

Daily or Custom Frequency: Most businesses generate a batch report daily, at the end of their business day (called batch closing). Some systems allow for custom batch periods.

Purpose: It helps merchants reconcile their transactions by comparing the batch report with their sales records and ensuring that all transactions have been captured correctly.

Settlement Information: The batch report is sent to the acquiring bank to initiate the settlement process, which transfers funds from the customer’s accounts to the merchant’s account.

Audit and Accounting: These reports are essential for accounting, auditing, and ensuring that the correct amounts are deposited into the merchant’s account.

In summary, a batch report is a detailed overview of all payment-related transactions within a specific period, used for reconciliation, settlement, and record-keeping.