For
more information, please see CCP610
- Credit Card Settlement.
All the reports should be run separately in each org unit on a daily basis.
For
more information, please see CCP610
- Credit Card Settlement.
1. TMA Resources recommends that this process be scheduled to run overnight. However, it is important for someone to review the report the next day to make sure that there are no errors. For more information, please see Scheduling a Report Job.
a. Alternative: run this process immediately before your credit card processing network settles (e.g., ten minutes).
i. This is the best option for cash flow.
ii. In this manner, most of the transactions for the day will settle on the same day. This includes the daily back office batches, as well as those transactions received via the web.
b. Alternative: run this process at 11:50 P.M.
i. This is the best option for cash reconciliation.
ii. In this manner, the maximum number of transactions for the same day will settle between Personify and VeriSign. However, these transactions will settle within the processing network a day later unless the processing network settles at midnight.
2. TMA Resources recommends that the Process Deferred Payments parameter be set to "Y" to hold the receipts for inventoried products that are created after shipping and paid via credit card.
a. This parameter will automatically create a batch for the inventoried product receipts. You won’t need to create or post a batch every day, nor enter the batch ID as a parameter on this process. The system will take care of this for you.
b. Alternative: create the batch to hold receipts for inventoried products that will be created after shipping for the CCP610 process.
i. If you do shipping on a daily basis, perform this step every day.
ii. Create a deferred batch.
iii. Set up all the possible credit card receipt types on the batch.
iv. The batch date should be the current date.
v. It is not necessary to enter the control count and amount at this point.
vi. Each morning, post the deferred credit card batch that was created for the previous day’s run of CCP610. Before posting, update the control count and amount with the actual count and amount values.
3. When this process is run, the credit card is actually charged and Personify assigns a settlement number. The settlement number format is month, day, year. If the process is run more than once a day, the same settlement number is assigned.
4. The report produced by this process may display the following two types of errors:
· Red Errors: these indicate there was an issue with the card or with VeriSign and need to be addressed in order for the payments to settle. If this type of error keeps appearing on the report even though the transaction has settled, notify your TMA Resources representative because it may need to be deleted from the back-end.
· Warning Errors: these display at the bottom of the report and occur because there is an authorization but the receipt doesn’t exist in Personify. This would be due to a receipt reversal to void the charge. Review this to make sure there should have been a receipt reversal. Nothing else needs to be done for this type of error. If you see this error for any other reason, notify your TMA Resources representative.
For
more information, please see CCP504
- Credit Card Transaction Analysis and FAR505
- GL Account Summary.
1. Run the Credit Card Transaction Analysis report, CCP504.
a. Enter the previous day’s date in both the begin and end date parameters.
b. Enter settlement date as the primary break.
c. Enter batch as the secondary break.
d. If you have multiple merchants, enter merchant as the primary break and move the other breaks one level down.
e. Enter the following filter: 1=1 AND CCP_REQ_ANS_INFO_VW.REQ_TYPE_CODE <> 'PRE-AUTH'
f. The report will print in sequence by the settlement date and by batch within settlement date.
2. All payments on the report should have a status of SALE.
a. If any payments have a pre-sale status, the payment did not settle. If this is the case, research why it did not settle.
b. If you choose to run the settlement process in the manner that is best for cash flow rather than reconciliation, there may be web transactions that came in after settlement and before midnight that did not settle. If this is the case, make sure those transactions are taken into account.
c. If you choose to run the settlement process in the manner that is best for cash reconciliation, everything from the previous day should have settled.
d. It is possible that there was an error in red (see above section) and that is the reason a payment did not settle. Check your VeriSign user's guide if you need more information on the error.
3. Run the GL account summary, FAR505.
a. Enter the previous day’s date in both the begin and end date parameters.
b. Enter txn date as the primary break.
c. Enter batch as the secondary break.
d. If you have unique accounts that are used for credit cards only, enter the following filter: far_txn_detail.account in('CREDIT CARD ACCOUNT NUMBER 1', 'CREDIT CARD ACCOUNT NUMBER 2'). Enter all the credit card accounts that you have regardless of the type of card.
e. If you use the same cash account for credit cards as well as other types of payment (e.g. checks, cash, etc.), enter the following filter: far_txn_detail.account in('CREDIT CARD ACCOUNT NUMBER 1', 'CREDIT CARD ACCOUNT NUMBER 2') and exists (select 'a' from far_receipt (NOLOCK) where far_txn.receipt_no = far_receipt.receipt_no and far_receipt.receipt_type_code in ('CC RECEIPT TYPE 1',’CC RECEIPT TYPE 2’)). Enter all the credit card accounts and receipt types that you have regardless of the type of card.
f. This report will print in sequence by the receipt date and by batch within receipt date.
4. The batch on both reports refers to the same batch ID.
5. However, the date on both reports refers to different date fields. If procedures are being followed, these dates should be the same.
a. When a credit card payment is entered, it goes into two queues, the receipt queue and the credit card queue.
i. Credit cards in the credit card queue are settled using the current date regardless of the batch status or the batch date.
b. CCP504 refers to the settlement date.
c. FAR505 refers to the receipt date, which matches the batch date.
6. Match the FAR505 report for each day to the same day on the CCP504 report.
7. If the total for a day does not match, match the batches for that day to determine which batch has the discrepancy.
8. The typical reason for a mismatch is that a credit card payment was entered in a previous day’s batch.
1. This process will typically be run on a daily basis. Please see LCK100 - Lockbox Batch Upload Control Report for information.
1. When the scheduled payments feature of Personify is used, FAR680 needs to be run on a periodic basis. How often will depend upon the policy for due dates.
2. This feature also includes charging someone’s credit card on a periodic basis (e.g. membership renewals).