Not all payments are made at the time of purchase in the store. In some cases, you will need to make a payment or account deposit directly in the client's billing account. Admins with the right permission can access a client's billing account by selecting their name in the Clients tab, and then clicking on the Client Billing subtab.
In this article, you will learn:
FAQ
1. Make a Payment
When you make a payment, it must be applied to an existing balance and reconciled to the invoice(s). A payment can't exceed the total account balance. You can make a payment using the Operations menu or through an invoice.
Outstanding invoices: Select which outstanding invoice(s) will be paid. If multiple invoices are selected and the total payment is less than the total amount of the invoices selected, they will be paid in order of oldest to newest.
Available credit: If the client has available credit on their account, you can apply the credit as payment towards the selected invoice(s). It's possible to use a credit and make a payment at the same time.
Payment type: The available types to choose from depend on your payment settings. If you accept online payments and a client has granted authorization, you will have the option to use a saved credit card or eCheck.
If you are paying with a credit card (or eCheck) that is not saved, you will need to fill in payment and billing address information in order to save the payment.
You can update a saved credit card if it's expired.
Installments: If you choose to use Installments, you must provide the amount of the initial installment as well as details for future installments (if necessary). Additionally, all installments will be reconciled when they occur.
Click Make payment to save.
👉 You can modify a reconciliation at any time if you have the necessary permission.
2. Make an Account Deposit
When you make an account deposit, you're storing funds in the account for future use (e.g. bursaries, cash advances, etc.). It can be any amount, whether there's an existing balance in the account or not. Click on Operations>Make account deposit.
An account deposit can be made using a client's saved credit card or eCheck (if the client has granted authorization to your organization).
You cannot create Installments with account deposits.
If an invoice is created, you can pay and reconcile it with an account deposit.
If an account deposit was made with a saved credit card or with card details that were entered in SmartRec at the time of payment, you can refund it directly on the card by clicking the +icon to view the account deposit's details. If the account deposit was paid by eCheck, cash, paper check, or a credit card on a separate terminal, you must cancel the account deposit and then perform a refund in the Operations menu.
3. Which Reports Tracks Payments
You can access your finance reports in the Reports tab. If you accept credit cards and/or eChecks online, take a look at the Merchant account page in the Accounting and finance tab to view details of your online payments.
👉 CardConnect customers can access this information in the CardPoint gateway.
📄 Account deposit summary: Details your account deposits only.
📄 Breakdown of payments: Totals for each payment type and which administrator entered the payment (if applicable).
📄 eCheck payment status: Find out the status of an eCheck.
📄Payment by ledger code: View the total of each payment type by ledger code.
📄Payment summary: Details totals for each payment type.
4. Frequently Asked Questions
How do I track eCheck payments?
How do I track eCheck payments?
eCheck payments that are processing or have been successful are visible in the main transaction list in the client's billing.
eCheck payments that have been added as planned payments (i.e., installments) are visible in the Upcoming payments subtab in the client's file.
eCheck payments that have failed are only visible in the Payment Action Center.