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Payment Types

 

CC        Charge Card

A Charge Card is a card used by a customer, where the payment to the retailer will be received at a later date from the charge card company. The charge card company has to be a valid customer with a client type as defined by the Charge Card - Client Type Code in the company setup options. When using this payment type you are asked to select the charge card company from the customer file. The system creates a debit to the charge card company and a credit to the customer's account. By default this payment type is not included in the bank deposit listing.

 

CS        Cash

Payment is by cash.

 

 

CQ        Cheque

Payment is by cheque.

 

 

DD        Direct Debit

A charge customer's payments are made direct to the retailers bank account. By default this payment type is not included in the bank deposit listing.

 

 

EF        EFTPOS - Electronic

Payment is by an EFTPOS card via an EFTPOS machine, where the payment to the retailers bank account occurs daily. By default this payment type is not included in the bank deposit listing.

 

 

EB        EFTPOS - Banked

Payment is by an EFTPOS card but not via an EFTPOS machine. This is where a manual card slip has to be completed and is required to be included with the daily bankings.

 

 

TP        Third Party Cheque

A cheque received from a customer (third party) but the payment is applied to other customers.  When using this payment type you are asked to select the cheque issuer (third party) from the customer file. The system will apply a debit and a credit for the cheque value in this customer account to record the transaction.

 

The banking control creates one debit to the bank account for the total of cheques and cash, one debit for the total of EFTPOS payments (types EF + EB) and one debit for direct debits.

 

 

ADD Controls

Merges point of sale bankings with the main banking control.