NESFA® Treasury Procedures – Table of ContentsLast updated 14-Mar-2013

NESFA® Treasury Procedures – Entering Payment Card Deposits

(Charges processed through our credit card machines — not ecommerce.)

Someone other than the Treasurer normally creates the charge deposit by using the credit card machine (swipe box) and gives the Treasurer a packet consisting of the report from the swipe box and copies of all the charge paperwork attached.

To record the deposit, take the packet and, using the dialogue invoked by Tasks > Receipts..., create a new deposit.  Use the procedure described in Choosing a deposit number and use the letter suffix C.  So a charge deposit on Valentine's Day 2013 would be given the deposit number D130214C.  In the past, numeric suffixes were used to sequentially number separate credit batches within a single calendar day, but, generally, Paymentech aggregates all the batches in a calendar day into a single bank deposit, so separate reference numbers (yynnn) for each batch should be used, but they should all have the same deposit number.  When the separate batches within a single calendar day are processed this way, Peachtree will have a single deposit amount for the total of those batches, and can reconcile it to the bank credit initiated by Paymentech.

To enter, the charges go through the copies of the individual orders one by one and enter them on in the dialogue.  Mark them off on the records of the individual orders as they're entered into the books.  These orders may be actual orders for merchandise or they may be payments for amounts owed to us or they may be payments for memberships, &c.

Sanity check

Once the entire deposit is entered, run the report Reports & Forms > Account Reconciliation... > Bank Deposit Report and confirm that the total for the deposit entered into Peachtree matches the total on the swipe box record.  Doing this now rather than when the account is reconciled saves a lot of time.

Checking the deposit as processed by Paymentech

The Paymentech credit card processing charges are accumulated generally available on their website on the second business day following the batch date.  Wednesday batches are generally available on Saturday, and the deposit to the bank usually will occur on the following Monday.  The statement for the whole month, which has the various batch and transaction fees listed, is generally available on or about the 4th of the following month.  The address, username, and password for accessing that website are, of course, confidential, and are not documented here.  After logging in, however, take these steps:

The total from the Paymentech report should match the total from the Peachtree processing.

See also Entering Check Deposits

Remember that American Express transactions result in their own batch separate from the MasterCard, Visa, and Discover transactions. You should use a deposit ID number ending in A for the Amex batch.  The transactions can be seen on the Paymentech website along with those of the other credit card brands, and should appear on the American Express website a few days later. 

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