Matched Transactions:
Ensuring Consistency – These transactions seamlessly match between your Venmo settlement report and your bank statement, guaranteeing data accuracy.
Discrepancies in Transaction Amounts: Identifying Differences:
More Amount Recorded in Venmo:
Investigate these variations to maintain financial clarity:
Refunds Processed:
If you issued refunds to customers, the Venmo report might show the original sales amount, while your bank statement reflects the final settlement.
Dispute Resolutions:
Resolved disputes in your favor through Venmo might lead to a higher amount in the settlement report compared to the initial bank transaction.
Less Amount Recorded in Venmo:
Understand these instances for potential reasons:
Bank Fees:
Fees charged by your bank for the transaction might be reflected in the bank statement but not the Venmo settlement amount.
Currency Conversions:
If the transaction involved a currency conversion, there might be slight variations due to exchange rates between when Venmo settles and your bank processes the transaction.
Transactions Missing from Venmo:
Capturing All Data – Transactions existing only in your bank reports, not the Venmo settlement report, could indicate:
Unlinked Accounts:
Ensure your bank account is correctly linked to Venmo to avoid missing transactions.
External Deposits:
Deposits made directly to your bank account might not be reflected in Venmo if they weren’t processed through the platform.
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