Apple Pay serves as a convenient payment gateway system, streamlining daily purchases by replacing physical cards with online and in-store transactions via applications.

Keeping track of financial transactions and fees manually can be a time-consuming and complex task, yet it’s crucial to ensure the accuracy of Apple Pay charges to prevent potential financial losses. To verify the precision of your Apple Pay transactions, you can rely on Cointab.

Cointab simplifies the verification process for your company’s charges, making it more efficient for your finance team. Our software is tailored to your specific needs and automates data entry. Through complete automation, we cross-reference your ERP reports, website reports, and bank statements with your Apple Pay invoices to determine if any overcharged or undercharged have occurred.

Reports required for Apple Pay payment gateway charges verification:

Apple Pay payment report

This report shows from which payment mode the payment has been done and the total transaction report.

Apple Pay rate card

Rate card consists of percentage charges, payment mode and fee.


Fee correctly charged

The fee charged present in The Apple Pay settlement report is also present in the Rate card.

Fee overcharged

In this case, the fee is calculated using the values in the rate card and here the transactions show that Apple Pay has charged more than the calculated amount.

Fee undercharged

Here, the fee charged by Apple Pay is less compared to the fee in the rate card.

Tax correctly charged

The tax present in the payment report matches with the tax amount calculated according to the GST guidelines.

Tax overcharged

In this case, the tax present in the payment report is charged more in comparison to the GST guidelines.

Tax undercharged

Here, the tax present in the payment rapport is charged less compared to the GST guidelines.

Settlement amount match

The Tax and fees is deducted from the total amount which gives us the settlement amount. The settlement amount calculated should match the Apple Pay settlement report, and in this case they match.

(settlement amount = total amount – fees – tax)

Settlement amount mismatch

Here, the settlement amount is the total amount from which the fees and tax are deducted. The settlement amount calculated should match the settlement report given by Apple Pay, and in this case they do not match.

Settled in bank reconciliation

These transactions are found in the settlement report as well as the bank reports.

Not settled in bank reconciliation

In this case, the transactions are found only in the Apple Pay report and not in the bank report.

Cointab is your go-to solution for streamlining the reconciliation process. It efficiently compares the reports we’ve mentioned above, making the process hassle-free. Thanks to its automation, you’ll reduce the need for manual efforts, resulting in error-free outcomes. Plus, data loading and processing run seamlessly, offering you a crystal-clear view of all your transactional activities. Embrace Cointab to optimize your workflow, ensure precision, and elevate the charges verification process. Don’t wait; begin your journey towards financial efficiency with Cointab today.

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