Why are refunds NOT corresponding with their date? If I process a customer return pm Sept 18, I need to see the return in the payouts with Sept 18 NOT Sept 17! Why is this happening? It's screwing up my bookkeeping.
Very confusing. Can someone from Lightspeed explain the reason for this?
And payouts are spread out over 3 days, our bookkeepers are ready to pull their hair out!
Agreed, but I think the answer comes down to $$$. If LS can reduce your deposit by the subsequent day's refunds, their payouts are lower. Although it is generally a small amount, spread it out over thousands of merchants and it probably is part of what allows them to offer better rates. We recently switched from Vantiv/World Pay to LS Payments and we save a significant amount on merchant fees. For the increased time required to reconcile the payouts, it's worth it. It does make bank reconciliations more time-consuming, but after a few recs, it's not too bad.