Sage 100

Basic Question: If you use Sage Payment Services Integrated with MAS, after you post the invoice and it charges the credit card, do you have to do anything with Cash Receipt to apply the invoice as paid, or is that all handled by the link automagically? Thanks,

The Invoice is automatically paid in A/R . Although you do need to create a journal to move it out of Credit card clearing and into the cash GL account once you receipt money in the bank.

My clients do a daily posting CR to move money from clearing to cash

The theory is that the money is not yet in your account yet so it goes into a holding/wash account. When you receive notice from the bank that the money has hit your account then you are suppose to do the transfer moving the money to the account so bank rec matches the bank statement.

You can do this through either an A/R cash receipt (using CASH as the customer) or via a transaction journal entry. However, since most people who process credit cards are in A/R, typically the cash receipt is used. Although I have one customer who loves their transaction journal entries.

And I don't believe this is an SPS issue - I believe it's how all the payment types of credit card have always been managed.

Do they do this as 1 big lump or did they do with for each customer invoice? Thanks, Mark Chinsky www.clientsfirst-us.com Excuse my typing. Sent from my Sprint Epic 4g.

No recording the settlement is typically done as one per each of the 3 types of deposit groups: MC/VISA, Discover, Amex. When customers have multiple card types, multiple G/L accounts can be used but is not necessary. But, because SPS deposits to the bank based on deposit group, you want multiple entries so it flows to bank rec properly.

As Dawn indicates. It is best to match the bank deposits.