Credit Card Bank Deposit

I am trying to match our daily credit card bank deposits with the daily payment type report. Does anyone understand how the credit card deposits are clustered when they enter your bank account? Do they clump all card types? Is it deposited 3 days, 5 days, 7 days after purchase through POS?

It’s different for every merchant provider, but our deposit shows up 1-3 business days later, all cards lumped together.

For weekends, Sat & Sun are lumped together and show up 1-23 business days later. Randomly, deposits arrive out of order or lumped together

Contact your merchant provider representative and they can clarify for you. They answer questions like this for a living!

If you are using World Pay good luck. Two years and couldn’t get it to balance month to month,
however, by the second month of the following year the clearing account pretty much settled out.

Epay seems to work about 3 days. They also send me batch files of each deposit group so
when it doesn’t balance (which is rare) it is very easy to figure out.

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Hi Wendy,

I’m curious how you post your sales to your accounting software? We use QB and I enter a daily invoice using the daily activity report. I enter the different sku’s (to track inventory), qty & price per bottle. Then I pay the invoice with the different tenders. I’m finding discrepancy when there are orders that have been quarantined for various reasons. The sales dollars are hitting the bank via the merchant provider, but I’m not sure when the sale is hitting the daily activity report.

Hello Rhonda,

We also use QB. I use the QB report under financial and add quarantined
and remove authorized and void as these create duplicates. I use a
software interface program called Transaction Pro6 also known as Baystate.

I then pull a payment report from QB and remove auth or and void. I break
out the cash and subtotal by date.

My number is 707-723-4226 if you want any more details.

We are very fortunate to have an accountant that is a QB wizard.