Post Credit Card and ACH Settlement Amounts

Credit card and ACH payment transactions from your customers are not automatically updated to the Bank Reconciliation module. To manually post credit card and ACH payment transactions in Bank Reconciliation, either enter the day-end settlement amount in Transaction Journal Entry, or enter the day-end settlement amount in Cash Receipts Entry.

Note If you do not have the Bank Reconciliation module installed, post the day-end settlement amount in the General Ledger module by entering the settlement amount in Transaction Journal Entry or General Journal Entry.

Use one of the following methods to manually post credit card transactions in Bank Reconciliation:

To enter the day-end settlement amount in Transaction Journal Entry
To enter the day-end settlement amount in Cash Receipts Entry

To enter the day-end settlement amount in Transaction Journal Entry

Using the Accounts Receivable Credit Card and ACH Settlement Report, determine the day-end settlement amount.
Select General Ledger Main menu > Transaction Journal Entry.
In the Source Journal field, enter a source journal that will be tied to Bank Reconciliation (if you have not done so, you can create a new one on the fly). For more information, see Transaction Journal Entry - Fields.
In the Entry Number field, enter a number to identify the journal entry.
Click Format.
In the Transaction Journal Format window:

In the Offset Account No. field, select your cash account. For more information, see Transaction Journal Format - Fields.
In the Offset field, select Credit.
In the Transaction Type field, select Deposit.
In the Bank Code field, select the appropriate bank code and click OK.

On the Transaction Journal Entry Header tab, enter the posting date and journal comment.
In the Bank Code field, select the appropriate bank code.
On the Lines tab, enter information in the Doc Refer, Date, and Comment fields.
In the Account No. field, select the asset account that was entered in the Asset Account field in Payment Type Maintenance.

Note If the Asset Account field was left blank in Payment Type Maintenance, the Customer Deposit account entered in Sales Order Options displays in the Account No. field.

In the Amount field, enter the day-end settlement amount and click Accept.

When the Transaction Journal update is performed, the asset account is credited with the deposit amount and the money moves from the asset account to the associated cash account.

To enter the day-end settlement amount in Cash Receipts Entry

Using the Accounts Receivable Credit Card and ACH Settlement Report, determine the day-end settlement amount.
Select Accounts Receivable Main menu > Cash Receipts Entry.
In the Cash Receipts Deposit window:

Enter the deposit number, bank code, and deposit date. For more information, see Cash Receipts Deposit - Fields.
In the Cash Deposit Amount field, enter the day-end settlement amount and click OK.

In Cash Receipts Entry, enter the customer number. For more information, see Cash Receipts Entry - Fields.
In the Deposit Type field, select Cash.
In the Check No. field, type DEPOSIT.
On the Header tab, in the Amount Received field, enter the day-end settlement amount.
On the Lines tab, in the G/L Account field, select the asset account that was entered in the Asset Account field in Payment Type Maintenance.

Note If the Asset Account field was left blank in the Payment Type Maintenance, the Customer Deposit account entered in Sales Order Options displays in the Asset Account field.

In the Amt Posted field, enter the day-end settlement amount and click Accept.

When the Cash Receipts Journal update is performed, the asset account is credited with the deposit amount and the money moves from the asset account to the associated cash account.