Net Credit Card Batch Deposit (Include Refunds)

4 years agodeclined3

Please fix credit card deposits to be able to reflect the net with the refunds that come through. Every processor that I have been with including the new one recommended through EGIA (Service First) batches out credits and debits in one deposit. When reconciling our bank accounts, the deposits are frequently the sum of the deposit and the refund checks. My number of deposits and checks are never accurate in Aptora because of this, it also makes tracking down a discrepancy near impossible without going through the entire reconciliation again.

Perhaps there is a way to flag a “check” as a credit card refund item to show in the list of payments in the deposit screen? This could simultaneously clear the check 9 remove it from the reconciliation report and do math on the deposit so it shows the amount of the actual deposit.

3 thoughts on “Net Credit Card Batch Deposit (Include Refunds)”

  1. The settlement reports will vary based on the processor. A refund to the bank account is considered a check. You can use the cash back option if you would like to. Because the accounting steps would tie the refund to AR, it is not a deposit. Deposits are always a debit to the bank where the refunds are a credit (aka check). This cannot be done in QB last time I checked. In order to handle what you are asking, we would have to allow negative line entries in a deposit. This does not match the paper method. Sorry but we have to decline this one. I just don’t see it having wide appeal. Thank you though.

  2. How would the “Cash Back” option work? I am recording refunds as Checks in Aptora so customer accounts are reconciled. Would the cash back essentially double dip? Not clear on how to use that but I would like to know more.

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