(This report is only for Card Connect users)
This report contains the details of payments (ACH and Card) which were made by parents and get deposited in the center's bank account.
Why this report is so important?
Batch payments for a day consist of several separate payments from various parents. So it is very difficult for the center to know who paid for whom.
We wanted to help the centers to tackle this situation. So we are providing a comprehensive report of individual deposits with their reference number, deposit & payment date, amount, and the payer detail.
If a parent paid the amount using ACH/Card and their amount is not yet deposited in the center's account then they will not be present in this report.
Access Path : Center Dashboard > Online Tuition Payment > Payment Reconciliation > Bank Deposits Reconciliation Report
On the Bank Deposits Reconciliation Report page, you have two tabs,
1. Deposits and Other Credits
2. Withdrawals and Other Debits
Deposits and Other Credits
This tab contains the details of the payor, family acct key, child(ren) name, payment submission, reference, and amount of the successful deposits.
Withdrawals and Other Debits
This tab contains the details of all withdrawals and other debits with the bank action references (Refund/Charge Back).
Refund - Amounts that are refunded after deposited.
Charge Back - Amounts that are paid back (after getting deposited) to the parent after a successful dispute is settled by the bank.
What is the difference between Deposit Date and Payment Submission?
Deposit Date: The date on which the payment has been credited to the 'Center's Bank Account'.
Payment Submission: The date on which the payment has been initiated by the parents in the 1Core.
1Core runs the updation job on everyday at 7 pm EST or 4 pm PST and brings back the payment details that have been deposited on the previous date.
Note : For Card Payments, it may take 1-2 days to reflect on the center's bank account. For ACH payments, it may take upto a week to reflect on the center's bank account.
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