What is a batch close?
A batch close sends the day's approved card transactions from the terminal to the processor for settlement, so the money is paid into your bank.
When a card is approved, the money does not move straight away. The terminal keeps the approved transaction in an open batch. Closing the batch (also called settling or batching out) sends the whole batch to the processor, which then pays the total, less fees, into the merchant's bank account, usually within one to three business days.
Most processors close the batch automatically at a set time if you do not, but closing it yourself at the end of each day has two benefits. Deposits line up with business days, which makes bank reconciliation easier. And you get a batch report showing the card total for the day, which is the figure to check against the card line on the POS end-of-day report.
If the two do not match, the usual causes are a card sale rung on the terminal but not the POS (or the reverse), a void done on one and not the other, or a tip adjusted after the fact. Find the difference before you close, because once the batch has settled a mistake becomes a refund instead of a void.
In SeroPOS, card batches close from the terminal's own menu. For Global Payments the terminal menu has Print Batch Summary and Close Batch & Print Day-End Report, and Settings has a Close Batch button. Global Pay Cloud's menu has Batch Summary and Close Batch. Compare the batch total with the payment lines on the DSR before you lock up.
Saturday's DSR shows debit $1,210.75 and credit $2,488.30, a card total of $3,699.05. The batch summary on the terminal shows $3,724.05. The $25.00 difference turns out to be a card sale keyed straight into the terminal during a rush. The manager adds the sale to the POS, the totals agree, and she closes the batch.