It is important that the batch is for the current day because the credit card payment will settle on the current day.1. All mail with money should be routed to the finance department.
a. This includes checks and cash, if any.
b. Credit card payments received in the mail can be routed directly to the department who will be entering them.
2. It would also be advisable to review how customers are directed to send money into the organization and make sure that payments are directed to the finance department.
3. Separate the checks from the paperwork making sure that the amount of the check, the check number, and the payor is included on the paperwork. Another alternative to entering the payor on the paperwork is to make a copy of the check and attach it to the paperwork. Having the correct payor is essential because the payor could be different than the bill-to customer on the order and refunds can only be sent to the payor.
4. Separate the paperwork into batches depending upon which department will be entering the payments.
5. Run a total of the number of checks and the total amount in each batch.
6. Deposit the money into the bank.
1. When duplicate payments are received, it is recommended that they be applied to the order for which they are intended. In this manner, it will service as an audit trail for the payment.
2. Follow the same steps as for other payments.
3. The amount will default to the balance on the order, which will probably be 0.
4. Change the amount to the amount received.
5. This will result in a credit balance on the order.
6. This credit balance can then be:
a. Refunded
b. Moved to another order
c. Held for a future order
d. For membership, another option is to renew the membership for the next year and apply the payment to next year’s membership.
1. When overpayments are received, it is recommended that they be applied to the order for which they are intended. In this manner, it will serve as an audit trail for the payment.
2. Follow the same steps as for duplicate payments.
3. Review the order to make sure the rate code is correct. It might be that the customer paid the correct amount but the rate code on the order should be for a higher amount.
4. For membership, another option is to renew the membership for the next year and apply the payment to next year’s membership.
5. The lockbox parameter setup currently indicates to create an unapplied receipt in the case of overpayments rather than to pay above the order amount.
a. It is recommended that payments above the order amount be allowed.
b. The resulting credit balance can then be researched.
1. A check may be received without paperwork and it is not clear for which order the money is intended.
2. Look up the customer based on the name and address on the check.
a. If the customer does not exist, create a customer record for this person/company.
3. Include the check as part of a batch, following the same steps as for other payments, except apply the money via the Receipt Entry screen instead of on an order. Be sure to enter the amount received because there will be no default for it.
4. When you save the receipt, you will receive a message asking you if you want to create an unapplied receipt. Click Yes.
5. Contact the customer to find out what the money was for.
6. If it was sent by mistake, it can be refunded.
7. When the order for which it was intended is found or created, transfer the unapplied receipt to this order.
8. Unapplied receipts should not remain as unapplied for too long a period of time (a maximum of a week as a standard).
1. Query on the batch by entering the batch ID.
2. Click Open Batch.
3. If a payment is received without an order, create the order.
4. Access the Payment Information tab.
5. Click Create New Receipt.
6. The amount will default to the order amount. Be sure to review the amount and change it to the amount of the check, if necessary.
7. Enter the check number.
8. The payer will default to the bill to on the order. Be sure to review the payer and change the payer if the payer is different than the bill to. This is essential because refunds will only go to the payer.
1. Search for an available, direct credit card batch for the current day for yourself or your department.
It is important that the batch is for the current day because the credit card payment will settle on the current day.
2. Click Open Batch.
3. Create the order unless this is payment for an existing order.
4. Access the Payment Information tab.
5. Click Create New Receipt.
6. Pick the appropriate receipt type for the type of credit card (e.g. Visa).
7. The amount will default to the order amount. Be sure to review the amount and change it to the amount of the check, if necessary.
8. The payer will default to the bill to customer on the order. Be sure to review the payer and change the payor if the payor is different than the bill to. This is essential because refunds will only go to the payer.
9. Enter the credit card number, the security number and the expiration date.
As of 7.6.0, if you want to credit card transactions to fail in the back office if no security number (CVV code) is provided with the credit card number, set IGNORE_CVV parameter for your payment handler to "N" and add the "NULL" value to the REJECT_CVV_RESULT_CODES parameter for your payment handler.
10. At this time, Personify360 will use the payment handler / merchant that you have set up in the system to perform a card authorization. This authorization will determine if the credit card is valid and whether funds are available on the card.
11. If you receive an error message, the receipt will not be saved until you correct the credit card information.
12. You will receive a confirmation message and authorization number. The authorization number will be stored in Personify360.
13. Personify360 will also receive a token from the payment handler and will store this token instead of storing the entire credit card number. Only the first six and last four positions of the credit card number will be stored.
For more information, please see Working with Batches.
1. Make sure that the actual count and amount on the batch matches the control count and amount.
2. You can review the items in the batch by going to the batch receipt review tab.
3. If you prefer to review the receipts via hardcopy, run FAR1303 or FAR502.
a. Enter the batch date as the begin and end date and the batch ID as parameters on either report.
b. FAR1303 is an online report. From the Personify360 main toolbar, select Reporting > Online Report Submission.
c. Most clients prefer to use FAR1303; however, FAR502 has more detail on the report.
4. You can delete receipts if the amount is wrong or if they were applied to the wrong order line and reenter them.
a. From the Batch Control screen, access the Receipt Review tab.
b. Right-click on the receipt and then click Delete Receipt.
5. If the control count and/or amount are wrong, close the batch and notify finance so that finance can correct the control count and/or amount.
6. Close and post the batch.
7. The ultimate goal is to post batches on a daily basis. This should be possible during periods of low volume. During periods of heavy volume, it may take longer to post batches.
8. It is recommended to that you run FAR502 after posting the batch as an audit trail to file with the paperwork. An alternative to printing the report is to enter the job ID on the paperwork. Keep in mind how often jobs are purged and how far back you may need to go when referring to the batch paperwork.
1. If staff members are assigned their own batch, they should finalize this batch at the end of the day. It is also recommended that the finance department or the department managers review this as well to make sure that these batches are being finalized.
2. If batches are assigned to departments rather than individuals, finance or the department manager should finalize all direct batches either at the end of the day or the next morning early enough so that it is before payments are entered. It is a good idea to finalize the previous day’s batches and then enter the direct batches for the current day at the same time.
3. Each morning, the finance department should finalize the eCommerce batch from the previous day. The system will automatically create an eCommerce batch for the current day.
1. Because charge backs have already hit the bank, they should not go through VeriSign but do need to be recorded in Personify360.
2. Charge backs should be processed the same regardless of the source of the payment (lockbox, eCommerce, etc.). The important aspect is that the charge back box is checked and it does not flow through VeriSign.
3. A receipt reversal is used to record a charge back.
4. Open an adjustment batch with the date of the credit card dispute. Even though a batch is not required for the receipt reversal, recording it on the date that it happened will assist with cash reconciliation.
5. Look up the receipt on the receipt review screen and click Receipt Reversal.
6. Make sure the chargeback checkbox at the top of the screen is checked.
a. This is not a field that a user can modify.
b. When a receipt reversal for a settled credit card payment is entered in Personify360, it is considered a charge back and does not flow to VeriSign.
c. The application will automatically check the charge back checkbox on the receipt reversal screen if the payment has been settled.
7. Enter the reason for the reversal.
1. A receipt reversal is used to record a bounced check.
2. Open an adjustment batch with the date of the NSF. Even though a batch is not required for the receipt reversal, recording it on the date that it happened will assist with cash reconciliation.
3. Look up the receipt on the Receipt Review screen and click Receipt Reversal.
4. Enter the reason for the reversal.
1. A credit card payment can be voided before settlement.
2. Reverse the receipt.
a. On the receipt reversal screen, the chargeback box should not be checked.
b. This is not a field that you as a user can modify.
c. It would not be checked if the receipt hasn’t settled.
3. In this case, the payment will not pass to VeriSign and there will be a warning error on the settlement process report, CCP610.
4. If the payment has already settled and there is an issue with it, you can refund it instead of reversing it. In this case, it will show up on the customer’s statement as a charge and a credit.
1. Go to the order and click Cancel Item to cancel just one session or change the order status to cancelled to cancel the entire meeting.
2. If there is a cancellation fee on the meeting setup, the cancellation fee will default on the Cancellation and Refund screen.
3. The default cancellation fee will be based on the current date unless you are in an adjustment batch. If you are in an adjustment batch, the cancellation fee will default based on the batch date.
4. You can change the amount of the cancellation fee, if necessary.
5. The amount paid minus the cancellation fee will be available for refund and will default in the refund amount box.
6. In the case of a check payment, the refund will be via check and the third tab on the screen will say "Refund to Specific Check Receipt".
a. From the Refund to Check tab, enter “xxx Meeting Cancellation” where xxx is the name of the meeting or another comment that can appear on the check.
b. Review the payer and the voucher address to make sure it is correct.
c. If the check has already been issued (should be rare), you can check the Check Pre-Cut checkbox and the voucher will not flow to the AP system.
7. In the case of a credit card payment, it will default to refund via credit card and the third tab on the screen will say "Refund to Specific Credit Card Receipt".
a. From the Refund to Specific Credit Card Receipt tab, review the payer and the voucher address to make sure it is correct.
b. The refund will go to VeriSign and settle the next time the settlement process is run.
c. If you want to refund via check instead of credit card, check the Refund by Check checkbox.
8. If everything is correct, click Process.
For more information, please see Meeting Order Cancellations.
1. An inventoried product order can only be cancelled before it has been shipped.
2. Go to the order and click Cancel Item.
For more information, please see Inventoried Product Cancellations.
1. If an inventoried product is returned, go to the order and click Return Item.
2. If the customer will not actually be returning the item because it is damaged or for some other reason, uncheck the Return to Inventory checkbox.
3. It is assumed that the customer is still being charged for shipping (i.e., the shipping will not be refunded). Therefore, the shipping amount will display. If you want to refund the shipping, change the shipping amount to 0.
4. The refund amount will display.
5. For a partial return, change the quantity to the number returned.
6. If everything is correct, click Process.
For more information, please see Returning an Inventoried Product.
There are a number of ways to cancel a membership. Which method you use should be based on your organization's policy. For example, your organization's policy may be to refund the portion of the membership that has not been used or to refund the whole membership or to not refund any money.
It is key that your revenue be consistent with your member counts.
Let's use the following example. Say you have a calendar year membership order that goes from January 1, 2013 to December 31, 2013, and the customer calls to cancel on October 22, 2013.
If your organization's policy is to refund the membership for the remainder of the year (i.e., the rest of October, November, and December), the recommended way to refund the membership for the remainder of the year is to perform the following:
1. Right-click and select Show Full Line Item Details.
2. From the Line Item Details screen, change the Fulfill Status to "Terminate at End" (i.e., don't renew).
3. Click the Product Specifics tab.
4. Change the End Date to the date in which the customer no longer wants membership (e.g., October 22, 2013).
This way the membership order will still be active but only through October 22, 2013 and Line Status is Active. Therefore, if you run member counts, this customer will be included as a member for January 1 through October 22. You also have the revenue for that period and you'll notice that the amount on the order has been prorated. Since there is a credit balance on the order, you could then do a refund to refund the prorated credit balance to the customer.
If your organization's policy is to refund the entire membership, you can do a full refund/cancellation and the system will cancel the order line. Since there would be no revenue, your revenue and member counts will match because you will have neither.
This can also be done if the membership needs to be cancelled because it was entered in error.
1. Right-click the membership order line and select Cancel.
2. Select the Refund and Cancel radio button.
3. From the Cancellation and Refund screen, select "None" from the Recognized for Service drop-down.
4. Ensure that the Refund Amount field contains the full amount for the refund.
5. Click Process.
Since there is a credit balance on the order, you could then do a refund to refund the credit balance to the customer or a transfer to transfer the credit balance.
If your organization’s policy is to cancel the membership and keep all the money, you can set the order line to “Terminate at End” so that it does not renew. In this manner, the person will be considered a member until the end of the membership.
1. Right-click the order line and select Show Full Line Item Details.
2. From the Fulfill Status drop-down, select “Terminate-at-End”.
3. Click Save.
The member will continue to receive member pricing until the end of the membership.
If there is a subscription member benefit that the customer no longer wants to receive when cancelling a membership, you can click Edit Membership Subscriptions from the Order Entry task menu and opt out of or remove the benefit. Removing the subscription member benefit will remove it from this year’s order, but not next years. Opting out will remove the benefit from next year's renewal, as well as this years.
See Also:
· Overview: Accounting Best Practices
· Daily Financial Reporting Best Practices
· Weekly Financial Reporting Best Practices
· Batch Creation Best Practices