Batch Settlements and Deposits

Batches and Settlements

Overview

This article will provide a comprehensive guide to Helcim's batch settlement process and gross deposits. It will walk you through how daily transactions are grouped into batches, how you can manage settlement times, and how to reconcile your deposits and fees.

Tracking your funds

Helcim supports daily batch settlements, where transactions for the day are grouped into a batch and automatically sent to your linked bank account.

What is a batch?

A batch is a group of transactions that you have processed with your Helcim payment tools. Your batches can be viewed under the Credit card batches tab or ACH bank batches tab in the Payments tool. When a batch hasn't been settled yet, it is called an open batch, and transactions in the batch can still be voided and reversed if needed.

A batch must be “settled” before the funds can be deposited into your bank account. By default, your Helcim account is set to automatically settle open batches at 17:00 MT every day. You can adjust this automatic settlement time on your terminal, by selecting Payments> Terminals, and selecting your terminal to Edit the settlement time.  You can also choose to manually settle the batch at any time.

Processing a batch

Helcim reviews the first batch for all merchants for security purposes. Batches under review appear in the Batches in Progress section of the Bank Deposits Tool.

Once approved, the batch will show up in the Bank Deposits & Withdrawals section as a deposit. This section lists all deposits and withdrawals (like chargebacks) to your bank account, showing dates, descriptions, sales, fees, and account details.

Funding via gross deposits

Helcim uses gross deposits to fund your account. Gross deposits, or gross funding means that the total batch amount you processed will be deposited into your bank account for that day. The actual processing fees that applied to those transactions are then withdrawn from your bank account at the same time, as a separate transaction. 

This allows you to see the total net sales amount deposited into your account for accounting purposes, along with the fees for that batch, separately.

Viewing your deposits

Deposits and fees can be found under Credit Card Batches or ACH Bank Batches. Clicking on the batch line opens more details.

You can also view deposits under the Bank Deposits tab of your merchant account. The deposit line shows your total processed sales, minus any chargebacks, refunds, or returns.  The withdrawal line shows your fees. 

Currently on net deposits? Things to know before you migrate to Gross deposits

We’re rolling out Gross Deposits and encouraging merchants currently on our old Net Deposits system to switch over. If you'd like to make the switch, simply submit a ticket from your account with “Switch to gross deposits” in the description, and we’ll handle the rest.

But before you switch, here are a few things to keep in mind:

• Notify your accountant or bookkeeper: They may need to adjust how they manage your books and taxes.
• Adjustment period: Businesses transitioning from net deposits may experience a brief adjustment period.
• Fee visibility in Xero: During the transition, full fee breakdowns may not appear in Xero until after September 30. You can view all fees directly in your Helcim account.