You can prove your prefunding cash every day with three things: your sponsor bank statement, the Daily Transfers file and the Daily Cancelled Transfers file.
When things arrive
| When | |
|---|---|
| Daily Transfers file | About 6:00 AM ET, covering transfers settled the previous business day |
| Daily Cancelled Transfers file | About 6:15 AM ET, covering cancellations settled the previous business day |
| Bank posting to your prefunding account | By about 11:00 AM ET the same morning |
Today's bank postings line up with today's files, which describe yesterday's activity. Monday's files and postings cover Friday through Sunday. If Monday is a federal holiday, files arrive Tuesday and cover Friday through Monday.
What you'll see on the bank statement
The bank doesn't show transfers one by one. For each network and delivery method, each day, you'll see two debits: 1. Principal 2. Transfer revenue (FX and fees together)
Cancellations post as their own dated credits. They're never netted against the original debit.
Your daily close
| Source | |
|---|---|
| Beginning balance | Yesterday's ending balance |
| + Receipts | Total of Total credit amount on the Daily Cancelled Transfers file |
| − Disbursements | Total of Total debit amount on the Daily Transfers file |
| = Ending balance | Should match the statement's ending balance |
Two control totals: - Transfer debits on the statement = total Total debit amount on Daily Transfers - Reversal credits on the statement = total Total credit amount on Daily Cancelled Transfers
When both match and the balance rolls forward, the day is closed. Your own deposits into the account are the other credits on the statement.
On each transfer row, Total debit amount = Send amount + Transfer fee.
Going deeper (optional)
Once the day ties, you can check each network: 1. Group the Daily Transfers file by RSP Name and Delivery method. 2. Add up Total debit amount for each group. 3. Find that group's principal debit and revenue debit on the statement. 4. Check that principal + revenue = the group total.
Your own ledger
To reconcile your activity account (GL or DDA), use your processor's daily report filtered by the transaction code set up during implementation, and compare it with an Admin Portal export (or the Daily Consolidated Report, if you have it). This won't match the prefunding account exactly, because the portal includes transfers that haven't settled yet.