When a cash receipt is taken online using a credit card, the credit card payments do not get credited directly to the merchant's bank account immediately. They are generally batched up at the end of the day and credited as one amount. The reason this is done is that a single day may contain thousands of credit card receipts and having these all credited to the bank account would cause reconciliation nightmares. The default CSS methodology for managing this scenario is to use a special account in the CRM called "CSSBANK" which will get the individual receipts posted to it during the day. The credit card gateway system will provide a report at the end of the day as to the amount that has been transferred to the bank account and a journal should be done to Debit Cash at Bank and Credit CSSBANK, thus clearing the account.
An alternative method is available that will use a contra debtor account to put the original debit in rather than a GL account. The distinct advantage of this is that when the receipt for the total amount banked is performed, it can be matched using the ERP Open Item clearing system against the receipts it represents. This leaves only the outstanding receipts in the debtors contra account to clear and makes reconciliation of this task much easier.
To use this function, you must have a version of proledb.spl of at least 2.01.
When a cash receipt is posted that is credit card, Paypal or American Express, the receipt will be credited to the customer that has made the payment and debited to the relevant contra account. Each day, an amount will be credited to your bank account and the details of what payments this represents will be detailed within the payment gateway software. All that is required is to perform a normal debtors cash receipt and match the receipts off and then post.
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