Use Payments Flex and the RFMS Receipt Recap Report to reconcile credit card payments, refunds, fees, and payout totals before posting the deposit in RFMS Accounting.
The workflow is to run Receipt Recap, review the corresponding Payments Flex payout, resolve any differences, and then post the deposit in RFMS.
Run Receipt Recap
Run the Receipt Recap Report for the RFMS receipts that correspond to the payout you are reconciling.
Receipt Recap summarizes the receipts recorded in RFMS and provides the totals you compare with Payments Flex and use when posting the deposit.
For Payments Flex transactions, pay particular attention to:
- Total Receipts — Gross amount of the receipts included in the report
- Credit Card Fees — Applicable credit card processing fees
- Net Deposit — Amount remaining after applicable credit card fees are deducted from Total Receipts
Review the Payout in Payments Flex
Use the Payouts screen for transaction-level reconciliation. A payout shows the transactions included in the settlement. For RFMS payments, the Description includes the RFMS order number, which helps you trace a Payments Flex transaction to the corresponding receipt in RFMS.
In RFMS, go to Reports > Payments Flex.
The Payments Flex Payouts screen opens.- Select the payout you want to reconcile.
- Review the payments, refunds, and fees included in the payout.
Payments Flex also provides monthly Statements that summarize payments, refunds, processing fees, disputes, and payouts. Statements are useful for reviewing monthly payment activity, but they do not identify individual RFMS receipts. Use the Payouts screen when reconciling specific transactions or researching a difference.
Compare the Amounts
Compare Receipt Recap with the corresponding Payments Flex payout.
For example:
| Receipt Recap Report | Value | Payments Flex Payout Details | Value |
|---|---|---|---|
| Total Credit Card | $500.00 | - | - |
| Total Receipts | $500.00 | Amount | $500.00 |
| Credit Card Fees | $15.00 | Fee | $15.00 |
| Net Deposit | $485.00 | Net | $485.00 |
For this transaction, compare:
- Amount in Payments Flex to Total Receipts in Receipt Recap
- Fee to Credit Card Fees
- Net to Net Deposit
Research Differences
If the Payments Flex payout and Receipt Recap do not agree, research the difference before posting the deposit.
Use the checkboxes on the Payments Flex payout details screen to mark transactions as you compare them. Open individual transaction details as needed to compare the payment amount, processing fee, net payment, customer, order information, and refunds.
If your business uses surcharge, remember that the Payments Flex Amount includes any applicable surcharge. Compare it with Total Receipts, not Total Credit Card by itself.
Resolve any differences before continuing.
Post the Deposit in RFMS
After the Payments Flex payout and Receipt Recap agree, go to Accounting > File > Banking > Add/Edit Checks > Post A Deposit.
For a Payments Flex deposit, enter Total Receipts from Receipt Recap as the Deposit Amount. Do not subtract credit card fees first. RFMS applies the applicable credit card fee adjustment when the deposit is posted.
The same rule applies if you do not use surcharge: use Total Receipts as the Deposit Amount.
For the complete banking procedure, see Posting a Deposit.
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