I’d like to be able to use the settlements-api for automatic bank reconciliation in our accounting package.
For EFT transfers in Australia, each transaction has a “reference” field which the person initiating the transaction can put in there to identify the transaction. When paying a bill by EFT direct deposit, for example, someone will typically put the invoice number of the seller in there so that the seller can match the payment to the invoice when they see it come in.
My question: what value does Square put in the EFT reference field for settlement transfers? And can the format of this value be relied upon or is it subject to change? I did have a look in the documentation on the site but couldn’t find any explicit mention of this. Ideally, it would put the Square Settlement ID in there or some unique identifier like that so that you can reconcile the payment in your bank statement to the corresponding Square settlement transfer.