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Payment post date from cc and bank?

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  • Payment post date from cc and bank?

    Questions:
    1. Is there a standard schedule for credit card payments to post to a bank account? (for instance, mastercard are always 2 biz days, etc) We want to create a formula in salesforce that estimates when the money will post, for accounting reconciliation
    2. Do EFT transactions update transactions, either in Connect or also in salesforce, when they post to the client's bank? (for same reason as CCs-- to give accounting a reconciliation date)
    Thanks


  • #2
    Good day @Perc-BRC

    There isn't a set schedule exactly but it normally takes 48-72 hours for credit card transactions to deposit but EFTs can take longer and that all depends on the bank. I don't think it's something that you can make a formula for because it can vary.

    Regards,
    Click & Pledge Support Department

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    • #3
      OK. When you run straight out of authnet and other processors, it's like clockwork, a certain timeframe for each card, so you can make a formula, have done it for years and it works the majority of the time, so thought you might have similar.

      To confirm: you don't track the final posting of the EFT then? Like braintree and similar does? Not sure what you are using on your backend and you didnt' answer that part. Thanks!

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      • #4
        Now that your account 29028 is using the Propay gateway, you can use the Deposit Fund Date field on the C&P Transaction record to determine the date of deposit. This is the date that Propay authorizes the transfer of funds to your organization's bank and should correspond with your deposit date.

        I believe that there is a change with Propay in whether we receive the EFT information, so I'm working on verifying that for you.
        Regards,
        Click & Pledge Support Department

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        • #5
          Propay does return the verifications of ACH transactions (what you are terming EFT) as part of the Settlement Reports.

          WIth TransFirst, our clients had to login to a portal with the bank to review the status of ACH transactions.

          These statuses will also be updated in Salesforce.
          Regards,
          Click & Pledge Support Department

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          • #6
            Thanks! One last question-- any chance you have a sample report form propay that they send monthly with the transactions, fees, etc? It would be great to see what that will look like in planning reports. Thansk!

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            • #7
              Propay does not send a monthly report. You should make use of the Settlement Reports now available in CONNECT or use the "ProPay Deposits - Last Month - 200916" or "ProPay Deposits - This Month - 200916" reports installed with our 10/6/2020 release.
              1. Click the Salesforce Reports tab
              2. Click " All Folders" in the left column
              3. Click the "CnP PaaS Reports" folder and scroll to the "P"s
              4. Open ProPay Deposits - Last Month - 200916


              Click image for larger version  Name:	PaaS Propay Deposits Last Month.jpg Views:	0 Size:	230.6 KB ID:	56478

              You may notice I've shortened the column Names to better fit into the screenshot, but the ones in ProPay Deposits - Last Month - 200916 are the correct columns that are populated with Deposit Data.


              Use this as a template to model reports if you need a different view of the data. For example, these reports are based on the "C&P Transactions" object, but you could create a report with the Report Type of "Opportunities and C&P Order Number" to add Opportunity data to the report.
              Regards,
              Click & Pledge Support Department

              On Salesforce? Help us by rating our app: Click & Pledge Donor Management on AppExchange

              Join us @ the educational webinars: https://clickandpledge.com/webinars/
              Live Support available Join between 3:00 - 3:30 p.m. ET Monday - Thursday: https://clickandpledge.com/webinars/
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              • #8
                ah, i remember this change now, thanks. Will log into another client to find a report with some data to show. Thanks.

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