Point Of Sale FAQs

What is a settlement and why is it important?
I just ran a settlement, but I do not yet see the funds in my bank account, why not?
I just ran a debit transaction and I got a “Out of Balancer”  or “Error Transaction Not Completed”. What does this mean?
I just ran a debit transaction and I got a “MAC Key Sync Error”  or “Error Transaction Not Completed”. What does this mean?
I would like to get access to my transaction reports online, is this possible?

Q. What is a settlement and why is it important?

A – It is important to understand that when processing transactions on your terminal, they are not actually processed by the bank until you “Settle”, or “Batch Out”. This Settlement process essentially prints out a report of all transactions that were run on your terminal, and sends those transactions to the bank for processing. If this process is neglected, your funds will not be deposited into your Bank account, so it is important to be diligent and make this a regular part of your end of business day routine.

Q. I just ran a settlement, but I do not yet see the funds in my bank account, why not?

A – It can take anywhere from 24 – 48 business hours for the funds to clear and show up in your bank account. Typically any settlements that take place after 9PM are considered part of the next business day’s settlement processing queue at the bank. When settling on Friday or weekends, it is important to note that settlements are not processed until the next business day, so funds may not appear in your account until Mon or Tues.

Q. I just ran a Settlement on my terminal and I got an “Out of Balance” message, what does this mean?

A – An out of balance is actually quite common and can happen for various different reasons. When you Settle, your terminal will send it’s recorded daily totals and compare it with the Debit or Credit processors recorded totals. If there is a difference in the amounts, then you will get an out of Balance Alert.

The important thing to note is the “Host Side Totals” and “Terminal Side Totals” that are printed on the report. Typically when there is an out of balance alert, the “Host Side Totals” will be greater. What this means is that somewhere along the line, when your terminal sent out a request for an Authorization the Host saw the request, approved it, and sent that message back to the terminal. If there is a communication error that occurs before your terminal receives that Approval message from the Host, your terminal will not record the transaction, even though the host has already seen and approved it.

Typically the “Host Totals” are considered the “Master Record”, and if you chose to proceed with Settling you will actually be paid out the greater amount that was recorded by the Host. It is recommended however that in such an event, you call in to our toll-free support department to verify the transactions were recorded and all funds will be paid out correctly.

Q. I just ran a debit transaction and I got a “MAC Key Sync Error”  or “Error Transaction Not Completed”. What does this mean?

A – Your debit transaction was not processed. It is recommended that you try running the transaction again. More then likely the 2^nd transaction attempt will result in an Approved debit transaction. Your terminal and Pinpad contain secure Key’s that are synchronized with the Interac Debit Network which identify your specific terminal equipment. At times these key’s can become “out of sync”, simply running a second debit transaction should force your terminal to automatically perform a “Key Exchange” which should get these key’s back in sync, resulting in a successful debit transaction.

Q. I would like to get access to my transaction reports online, is this possible?

A – Yes, Conquest Financial offers a free online reporting portal that consolidates your debit and credit transaction history in one easy to use interface. If you do not already have access to this, kindly call in to our toll free support number and we would be more then happy to get you started with an online account.