The DAF (Daily Accounting File) is emailed each morning (business days only). The DAR (Daily Accounting Report) is essentially the same report but it is not emailed out each day - instead, it’s a dynamic report that can be found under the “Accounting” tab in Analytics.
Both reports provide transaction-level detail for the activity that will be either credited or debited to your designated bank account or cash account. The information supports reconciliation for payment activity. The DAF is a Microsoft Excel (XLS) document containing five worksheets (tabs) each with a specific type of financial activity that results in a debit or credit to the designated bank account.
- Sale Transactions close when the number of purchases requested (virtual cards issued) equals the Expected Payments value entered during the sale. Sale transactions can also be manually closed.
- The Daily Margin Funding amount equals the difference between the sale amount and the sum of the virtual cards requested.
Funds from Daily, Residual and Purchase Returns are aggregated into a single credit ACH entry
List of all expired virtual cards with funds (balance) remaining. For example, if a virtual card was requested for $400 but only $390 was used, the remaining $10 is released as residual funds.
Funds from Sales Returns & Voids are individual ACH credit or debit entries
List of Sale Transactions that were either Voided or fully or partially Returned. ConnexPay assumes one or more virtual cards are requested for individual Sale Transactions; therefore, funds are pulled from the designated bank account 14 days after the void or return.
List of Purchase Transactions (Virtual Cards) that receive money in the form of a return from the supplier. Funds returned to a virtual card are released to the Operating Account when received.
List of Purchase Transactions that have an activity that warrants an out-of-scope adjustment to collect funds immediately. Examples are:
- When the settled amount on the Virtual Card is greater than the issued amount
- When there is a settled transaction on a Virtual Card after Residual Margin has already been paid
Purchase Chargebacks are funded based on the contractual agreement
The total amount of Virtual Card chargebacks won is included in the Accounting Summary report in Analytics. Next up will be to provide that same information in the Daily report emailed to you and to provide a detailed tab that will list any Virtual Card chargebacks won.
ConnexPay employees can find more details here.
Updated 3 months ago