Reconciliation Report

When you are using the shared ABA Authorize.net account, when the order status is changed to 'Payment Received' state, the credit card used to place the order is charged. The funds collected are placed in a holding account for 15 days or less. When the order status is then changed to 'Completed', the order is marked for reconciliation. Reconciliation happens on or about the 15th and 25th of the month -  the funds are withdrawn, and dispersed to all interested parties. For wholesaler fulfilled orders, Ingram is paid for the cost of goods, cost of shipping and processing fee. For all orders (wholesaler fulfilled and store fulfilled) ABA takes 4.5% of the order total, as well as credit card processing fees. The remainder, including any local tax that was collected, is forwarded (via EFT wire transfer) to the bookstore's bank account. A full accounting of each holding period can be found through the ‘Money Management’ section of your website.

NOTE:  This report only highlights orders where there is a fund transfer between ABA and the store.

• For stores using the ABA Authorize.net account, this report will include all credit card orders, credit card refunds, orders shipped to NY and orders fulfilled by Ingram.
• For stores using their own Authorize.net account (IndieCommerce members only), this report will include orders shipped to NY and Ingram fulfilled orders. Stores using their own Authorize.net accounts will most likely see negative transaction amounts.

Navigate to: Store > Reports > Money Management > Show all Statements and select the 'Reconciliation' link for the appropriate period.

1. Type: The type of transaction (usually ‘sale’ or ‘refund’)
2. Date: The date the order was placed

         RECEIPTS

1. List Price: The total cost of items before tax.
2. Discount: N/A
3. Store Nexus Taxable Sale: The portion of the order total that will be taxed as per the store nexus rate.
4. ABA Nexus Taxable Sale: the portion of the order total that will be taxed as per the ABA nexus rate - if shipping to NY.
5. Non Taxable Sale: Event tickets, Gift Cards, or any other non-taxable items purchased on your site.
6. Gift Wrap: N/A
7. Shipping: The amount charged to your customer for shipping at the rate set by your store.
8. Total Taxable Amount: Some states charge tax on shipping, which makes it necessary to have an extra column for a combined taxable total.
9. Tax Rate: Sales tax rate depending on the location of the customer.
10. Sales Tax Collected: Total tax collected from your customer.
11. Total Receipts: Complete receipt total of the transaction

        DISBURSEMENTS

1. Gross Cost of Goods: If this is an Ingram fulfilled order, your cost for the book will be displayed here.
2. Early Payment Discount: N/A
3. Shipping Paid by Ingram: The shipping cost paid by Ingram to send the book directly to your customer.
4. Ingram Handling Fee: There is a $0.50 PER BOOK handling fee for each book in an order.
5. Commission to IndieCommerce: There is a 4.5% overhead fee on all orders for stores using the ABA shared Authorize.net account. It is to cover the cost of chargebacks.
6. Credit Card Fee Paid By IndieCommerce: Amount charged by ABA processor to process a credit card transaction. The fees charged vary for different credit card types.
7. Tax Paid By IndieCommerce: NY State tax that ABA will remit (except if your store is in NY State).
8. Total Disbursements: Total amount of deductions from the receipts.
9. Transaction Amount: Total amount that will be deposited into your Bank Account.