Make Payment Settlement

Settlement (Non-Shared Clients)

• Financial Institution Entry - Record the CCPay ACH payment deposit to your overnight corporate account as a debit to your “cash” account and a credit to your “pay in process” suspense account.
• Settlement Entry - Make payment transactions are included on the “pay in process” line on the SD-091 report. Your entry is made as a credit to your “cardholder loans receivable” account and a debit to your “pay in process” suspense account.
• Rejects - If an ACH payment is rejected, you are notified when the money is removed from the cardholder account. This displays on the SD-091 Non-Clearing Adjustment line.

Settlement (Shared Clients)

The CCPay payments will appear in the payments section of the TMGSETTRPT. The payments section includes all payments except auto payments which are separately reported. In addition to the normal settlement recording process, two additional entries to make in order to account for the exchange of funds for CCPay payments.

1. CCPay payments generate an incoming ACH transaction to the financial institution's specified account with the description of payment offset. 
   • Financial Institution Entry - Record the ACH transaction by debiting the “cash” account and crediting the “pay in process” account.
2. Velera pays out the total amount in the Payments section and the financial institution receives an incoming ACH for the funds so Velera must “sweep” back the CCPay payments. The Cash Settlement Dynamic Report has the grand total of the ACH.
   • Financial Institution Entry - Record the withdrawal by debiting the “pay in process” account and crediting the “cash” account.