DAF & DAR (Flex Funding Model)

Overview

The DAR (Daily Accounting Report) is emailed each morning (business days only) or can be found in Analytics. This report provides summary and transaction-level detail for the activity that will be either credited or debited to your designated bank account. The information supports reconciliation for payment activity.

Please note that some of these fields may not be applicable for your ConnexPay account.

Activity:

  • Wire/ACH to Fund Cash Account (Credit)
    ** Funds transferred from your bank account to ConnexPay to fund your transactions. This will
    always show as a credit to your CXP account.

  • Sale - Credit Card Sale (Credit)
    ** The Credit Card Sales provides the ability to process an incoming Sale (most commonly from
    consumers) that is used to fund an outbound purchase (via Virtual Credit Card or ACH
    Purchase). When a successful sale completes, the funds are added to your cash balance and
    available for you to issue purchases to pay your suppliers.

  • Sale - ACH Sale (Credit)
    ** ACH Sales allow you to accept funds from your customers DDA information (as opposed to a
    credit card). Read more about ACH Sales HERE

  • Purchase - ACH Purchase (Debit)
    ** ACH Purchases allow you to issue an ACH payment to a Supplier in order to pay for goods or
    services. ACH transactions are all bulk processed once per banking day at 3:00 PM EST. When
    these transactions are processed, they are sent to the respective banks for further processing
    and will settle overnight. Read more about ACH Purchases HERE

  • Purchase - Virtual Card Purchase (Debit)
    ** Virtual Card Purchases allow you to issue a VCC that can be used to pay a Supplier for goods or
    services.

  • Sale - Credit Card Void (Debit)
    ** Voids allow you to effectively terminate the sale as if it never happened. When a full void
    occurs, no money is moved between any of the parties involved in the sale transaction. For info
    on Voids click HERE

  • Sale - Credit Card Return (Debit)
    ** Returns occur once the consumers credit card has been charged and funds need to be
    refunded. For more info on returns click HERE

  • Sale - ACH Void (Debit)
    ** Voids allow you to effectively terminate the sale as if it never happened. When a full void
    occurs, no money is moved between any of the parties involved in the sale transaction.
    (Effective for ACH Voids that occur before 3 PM EST, otherwise it would be treated as an ACH
    Return)

  • Sale - ACH Return (Debit)
    ** Returns occur once the consumers DDA has been debited and funds need to be refunded. For
    more info on returns click HERE

  • Purchase - Virtual Card Return (Credit)
    ** Virtual Card Returns occur when a supplier returns funds back to the Virtual Card

  • Purchase - ACH Return (Credit)
    ** ACH Returns occur when a supplier initiates the return on an ACH Payment

  • ACH Debit Reject (Credit)
    ** When payments do not clear the supplier’s account, they are rejected. Payments can be rejected
    for a variety of reasons, including closed accounts, incorrect account numbers, etc.

  • Total Activity
    ** Total Activity is the sum of all debits and credits

  • New Cash Balance
    ** Prior day cash balance +/- Total Activity

  • Credit/Debit
    ** Total Amount to be credited or debited to/from your bank account. Please note that we will
    work with you to determine the margin percentage that will be returned to your bank account.

  • Ending Cash Balance
    ** New Cash Balance +/- Credit/Debit Amount

  • Minimum Cash Balance
    ** The cash balance which is required to be retained in the Collection Account. This amount
    represents ConnexPay’s estimate of potential liability arising from Client’s Supplier Payment
    Instructions in excess of Card Transactions and ACH Transactions accepted by Client as well as
    estimated chargeback liabilities. This is a calculated value over a 7-day rolling period and can
    change over time.

Sample Excel File:

Sample Report:


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