🧾 Understanding Your LOKE Reconciliation Report

Every day, LOKE sends each store a Reconciliation Report containing the previous day’s transactions. This report helps merchants understand how much they took in payments, how much will be paid out through Stripe, and how that payout amount is calculated.

This article explains:

1. The Stripe payout schedule (T+2 / T+3)

2. When to expect payouts for each day

3. The key reconciliation fields and what they mean

1️⃣ Stripe Payout Schedule (T+2 / T+3)

Stripe processes card payments and transfers the funds to the merchant’s bank on a delay:

• US & AU merchants: T+2 (transaction day + 2 business days) 🇺🇸 🇦🇺

• UK merchants: T+3 (transaction day + 3 business days) 🇬🇧

Stripe pays out on business days only (Mon–Fri), excluding public holidays.

T+2 Example (US/AU)

For the UK, simply add one additional business day to each example.

Impact of Public Holidays on Payouts

When there’s a public holiday on the Monday…

- Monday payment doesn’t happen
- Tue pays Thursday's transactions which would usually have been paid on Mon
- Wed pays Friday’s transactions which would usually have been paid on Tue
- Thur pays Sat, Sun, Mon AND TUE transactions - so this is the day it catches up
- Fri is Wednesdays transactions and is back to normal 

2️⃣ How LOKE Reconciliation Aligns With Stripe Payouts

LOKE generates the reconciliation report daily, always for the previous day’s activity.

Example:

• Tuesday — customer transactions occur

• Wednesday — LOKE sends reconciliation report for Tuesday's transactions

• Thursday — Stripe pays out Tuesday's transactions (US/AU T+2)

This timing is why understanding the core reconciliation values is so important.

3️⃣ Key Fields in the Reconciliation Report

Below are the key fields from your LOKE Reconciliation Report and their respective meanings...

📍 Location — Store identifier (e.g. Warren, MI 48089 MI-010)
💳 Total Payment — Gross payment captured in LOKE
💁 Tips — Total tips collected
🧮 Total Payment + Tips — Total Payment plus Tips (= Total Payment + Tips)
💵 External Payments — Non-LOKE / cash-equivalent tender
🎟️ Total Credit/Discount — Discounts, promotions, and credits applied
🟦 Stripe Payments — Stripe card/online payment amount (= Total Payment - External Payments - Total Credit/Discount)
🧾 Stripe Payments Tax — Tax portion of Stripe payments
💸 Total Fees — Processing and platform fees (deduction)
🏦 Total Payout — Net payout (= Stripe Payments - Total Fees; shown as TOTAL PAYOUT (T+2))
🔁 Refunded Transactions — Count of refunded transactions

⚖️ POS Check — Your POS should closely match the Stripe Payments field
💰 Bank Check — The money that hits your bank account should match Total Payout

💭 Things to be mindful of when reviewing your Speedline reports...

Every day, LOKE sends each store a Reconciliation Report containing the previous day’s transactions. This report helps merchants understand how much they took in payments, how much will be paid out through Stripe, and how that payout amount is calculated.

🔹 Discounts

Is your Speedline report showing simply gross values or has it accounted for discounts? 

🔹 Cash/External Payments

LOKE offers customers the ability to pay cash (or in-store) instead of having to pay online at the time of placing the order. This means that the transaction is recorded online but the payment is made in store and so the customer may pay cash or card in store for these transactions. 

🔹 Voids

As per LOKE certification and training, all refund/partial refund requests made to LOKE should also be followed by voids on your Speedline POS for reconciliation purposes. 

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