Daily Deposit Activity Summary
The Daily Deposit Activity Summary is a brand new report that allows clients to see their daily transaction activity of all debits and credits processed with their bank account. Clients have the benefit of seeing their daily deposits that are in transit or have been deposited into a specified bank account. This report can be used in parallel with their bank statements to balance their account.
The Interchange & Asset Fees are hidden if the client is not paying for these fees. This is an added benefit, as this information would cause clients to question the report if they saw information that does not apply to them.
This Daily Deposit Activity Summary is identical to the report that some payment processors provide, so clients will not have to sign in to multiple locations to download this information.
There are three sections to this report:
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Financial Summary — This shows the Sales Count, Sales Amount, Refund Count, and Refund Amount. All payments are broken down by the method of payment.
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Fees and Adjustment Summary — This displays processing and interchange/assessment fees. The total amount is included in the calculation of the overall total transfer amount.
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Transfer Summary — Transactions show a status of pending effective transfer (PENDFT) or effective (EFEFT). PENDFT means that the payment is in transit to become effective; the status will change to EFEFT once the effective date has been reached. EFEFT transactions have been credited to clients’ bank accounts as of a specific date (this also applies to debit transactions).
Terminology Reference