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Then you can assign cards that operate on the account to people (expenses) or Assets

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Trade Finance Bank Account

Discussion

Trade financing is when the bank will forward some funds to you for a % of invoices you have sent out to customers so you can have the cash earlier and not have to wait to collect it.

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The bank normally expects that all the debtors they are trade financing will be instructed to pay into the trade finance account.  This helps minimise the loan and also keep track of the performance of individual debtors.

Bank Account Setup as Trade Finance Account

Note - only one bank account can be the Trade Finance account at a time

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Bank Account on Invoices

When a bank account is flagged as "Trade Finance" then invoices sent from the system or viewed online will have the following bank details:

  • Debtors flagged as "Exclude from Trade Financing" - will show the bank account with Default set to "Debtor" or "Both"

  • All other debtors will show the Bank account with the special type "Trade Finance"

Turn on the flag for debtors

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Set on a debtor

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Regular Providing invoices to the Bank

The bank will request all invoices to be sent to them regularly - use the Trade Finance Screen for this .- then export to xls to send to the bank

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Aging summary by Due Date for NON trade finance debtors

The aging summary can exclude Trade Finance Debtors

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OLD Bank Reconcilation - Enter an opening balance for the bank account

Note

New Statement Centred Bank Reconcilation process does not require an opening balance for the bank account.  See Bank Reconciliation - Statement centric - uploaded and remembered bank statement lines

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  1. eWay will not send you a transaction for every individual transaction - they will instead send a lump of money 2x per day based on your overall transactions.  

    1. So we need to group together all the transactions eWay has told us have been successful into a single $ value that we expect to see go into your bank.  

    2. For this reason we batch together all credit card transactions into a "Batch" using the cut-off times told to us by eWay.

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Using Tyro Credit Card (Card Present) Terminals in POS

The POS looks for the Tyro Software installed on the local machine

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OLD Bank Reconciliation Format

The new format help is here Bank Reconciliation - Statement centric - uploaded and remembered bank statement lines
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Tyro Terminal Notes

Your Tyro Account setup is outside the scope of this help

Overview

Tyro is a cc capture machine linked to the computer being used (paired). It will have a MID (merchant ID) that links to your company and a TID (Terminal ID that indicates the unique terminal). When first used the MID is checked against the bank account MID and if the TID is not recorded as used before the bank account details are updated with the additional TID. The POS sends requests to the terminal (which responds with approvals / rejections etc) and the responses cause the POS to continue. Where a response is not received quickly the POS will indicate a time out. When the POS is opened by a machine with a paired Tyro terminal - reconciliation files for any of the last 60 days that have not been collected are attached to the appropriate batches and any discrepancies are emailed. Every day any discrepancies are emailed for the previous day.

Surcharging

  • Be aware that you can setup a surcharge in Tyro that is added to the amount the POS requests (a percentage)

  • eg:

    • The POS asks for $100 on credit card XXX

    • The Tyro response will be $100 plus $x of surcharge

    • The POS transaction will adjust to add the surcharge to the invoice and customer receipt

  • (warning)There are two possible modes - set on GL Control > Sales > Credit Card Surcharge

    • Tyro keeps the money as their fee (Direct to Provider)

      • the customer is kept informed but the payment journal does not need to change

    • You get the money from Tyro (Direct to Bank) - tyro charges you instead a flat monthly fee.

      • In this case the financial journal will have an additional line added for the surcharge taken from the customer.

Tyro connects to the machine

Tyro has software that is installed on your computer that their machine talks to

  • Without this the POS cannot communicate with the Tyro Terminal.

  • This comes from Tyro

  • Some tyro terminology

    • MID = Merchant ID = bank account Tyro is putting the money into (setup in Tyro system)

    • TID = Terminal ID = Tyro machine being used

    • Surcharge = a % that can be added by Tyro to any $ card request and listed separately as a cc surcharge

    • Settlement file = a file with all transactions for a Date and MID and TID provided from Tyro records

Troubleshooting Tyro issues

Issues taking payments may be for a number of reasons - the key information we need is the Tyro Logs on the machine. These tell us every request our system made of the Tyro terminal and every response they provided. We need these captured on the day of the problems.

An examples issue is - timeout from the Tyro Server (we allow 15 seconds)

  • System > System Settings (Advanced TAB) > Card Present EFTPOS provider (Tyro) (Tyro settings button appears) > Tyro Settings

    • Button: Show Tyro Logs for this machine for this pairing (note this may be a large file - email it to us)

    • Button: Show SaaSplications Logs for today - this is the SaaSplications local logs

Setup the bank account

The bank account needs to be

  1. The default bank account for Both (Debtor and Creditor)

  2. Have the Merchant ID (MID) set for Tyro

  3. When a terminal is first used in a store

    1. System checks that the MID is correct and does not allow incorrect MID to transact - warns user

    2. System checks if the TID is already recorded against the bank account - if not it is added with the user login details that first used it

Note: If MID is NOT configured then the terminal match is not checked

  • Terminal can still capture transactions

  • ie if a store has a MID setup as 12345. Then a manager walks in with a Tyro terminal setup with MID of 12222 and logs in to the store

    • they CANNOT take a transaction using their Tyro terminal

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SaaSplications Setup for Tyro Terminals

Setup and pair with the terminal

  • Pairing: System > System Settings (Advanced TAB) > Card Present EFTPOS provider (Tyro) (Tyro settings button appears) > Tyro Settings

    • IF this machine previously had a different terminal paired - then use the button: clear browser cache.

    • Enter the MID And TID in the machine (this will be validated)

    • Set Production / Test mode or simulator mode (affects the tyro account impacted)

    • Pair Terminal button

    • Request Terminal Info

  • Integrated Receipts - Ticked if SaaSplications is printing the receipts (SaaSplications POS prints receipts so choose this when using POS)

  • Print Merchant Copy receipts - used when a tyro machine is not connected to a POS - if using POS then = Unticked

  • Integrated Surcharge - if your Tyro account has been setup to take a surcharge or not

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Comparing system journals with Tyro Transaction history

Tyro provides settlement files - all transactions taken by a terminal for a date.

  1. Tyro settles end of day every day in a single account for every MID across all TID’s so this is the expected amount into your bank (less fees if you are not using surcharging)

  2. Tyro closes the settlement at midnight every night

    1. Settlement files are therefore not available until the next day

SaaSplications provides a way to

  1. capture the settlement files

  2. compare them with the system created journals

  3. Why ? so you can find examples where a user may have used the tyro machine and not put the sale through the POS

SaaSplications Journal Batch for Tyro is daily

  1. SaaSplications groups Tyro journals into a batch for the day (per MID)

    1. Used for bank reconciliation

    2. A new batch is created at the first transaction after midnight

Tyro settlement files

Used to compare what SaaSplications recorded VS what Tyro recorded

  1. Each file must be requested by TID from Tyro

  2. The file is not available until after midnight - hence not available until the next day

  3. The file can only be requested by the terminal used

When a Terminal is used every day

The file is requested “silently” by the system for you each day….

  1. When you open the POS AND have a paired Tyro Machine on your computer

    1. SaaSplications checks the if the MID paired to your machine is the MID setup on the default bank account of the host company you are accessing

      1. If it is - then SaaSplications will silently collect a reconciliation file for the previous day (if one exists) and attach it to the banking batch for that date

When a terminal has not been used for some time

When you have not used a TID for some time and need to collect missing files

  1. When you open the POS AND have a paired Tyro Machine on your computer

    1. SaaSplications checks the if the MID paired to your machine is the MID setup on the default bank account of the host company you are accessing

      1. if it is - the POS cash count > Settlement TAB > lists dates this MID and TID did not collect settlement files

Moving Terminals from Store to Store

If a terminal (Tyro TID) changes stores (the MID changes) - then the reconciliation file

Tyro in use in the POS

During a POS transactions

  1. The POS calculates the amount to be captured on the card

  2. The POS talks to the Tyro software on the computer - that then talks to the Tyro Machine

  3. The Tyro machine responds with the result (which may have added a surcharge)

Tyro have a couple of identifiers

  • MID - this is the merchant account that the terminal will be transacting on - this corresponds to a bank account in SaaSplications (the MID is held in the Merchant ID field and identified as a Tyro merchant ID)

  • TID - this is the terminal ID

The POS looks for the Tyro Software installed on the local machine

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OLD Bank Reconciliation Format

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titleOld Bank Reconcilation Format

The POS then passes the amount to be paid to the Tyro software which passes it to the Tyro Cloud which puts it onto the device (so internet connection is required)

The user swipes the EFTPOS or credit card - Tyro then tells the tyro cloud to update our POS with the transaction reference, amount etc and the system then completes the transaction

Tyro pays all the money for a day in a single payment (except AMEX which is paid directly by AMEX).  To see these amounts - use the separate AMEX flag on the bank req.

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If the totals are not the same as deposited or reported by Tyro - right click to open the batch an investigate all transactions involved

Clearing CC Batches in OLD Bank Statement

Note

for new capabilibites see Bank Reconciliation - Statement centric - uploaded and remembered bank statement lines

Although the payments are grouped together - we have found that the credit card gateways frequently send a different $ amount to what we would expect based on the payments sent to them.

  1. Reasons for this include - fees they may take out, charges they may add, reversals from failures of payment and other reasons.  

  2. So - when you look at the bank reconciliation we have a list of the expected total from the Credit Card Gateway (the batch total) that you can see.

  3. If the amount they put into your bank is the same as we expected - simply right click and "clear all in batch" on the batch - and it will tick all transactions as included in the statement.

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If the amount they deposited is not the same - you will have to go through the statement they provided and tick off individual transactions on the bank statement so you know which transactions have cleared.

Note

See Bank Reconciliation - Statement centric - uploaded and remembered bank statement lines for reconciliation instructions

Payments from/to Debtors and Payments to/from Creditors and bank accounts

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The saved report shows exactly the situation at the time of doing the bank Req - there are two numbers that may now be different...

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When viewing a closed bank Req - the unpresented values are live values (not saved ones).  Hence they will show you if any transactions prior to the reconcilation date have STILL not been cleared.

The saved report shows accurately at the time of doing the bank req:

  1. The Journals that were cleared

  2. The Journals that are before the reconciliation date that had not been cleared at that time

    1. If a journal is not cleared for a number of reconciliations - it will be listed in each report as uncleared. 

    2. Journals that have not been cleared in the bank req can still be adjusted.

The Bank Balance is often not the same as the Balance sheet balance - due to un-presented transactions.

  1. If at the time of doing a bank req you have unpresented payments or receipts (this is common)

    1. These will not add to the bank req balance at the time of the bank balance

    2. These will add to the balance sheet value of the bank balance

  2. If you want to change this

    1. Update the dates of all the unpresented transactions to be after the date of the bank req before saving the bank req

The numbers on the saved reports are expected to vary with the balance sheet balance at the date - this is best illustrated with an example:

  1. Two cheques are entered into the system for an empty bank account dated 1st August (note I have used cheques but any transaction type applies here) 

    1. $100 

    2. and $1,000

  3. You do a bank req on 7th August and only the $100 is there - the $1,000 has not yet been presented.

    1. no problem as the $1,000 will be listed in the next bank req in case they have deposited it by then

    2. As the date on the journals is 1 August the GL Balance for the bank account is $1,100 on the 7th August - this is what will show on the balance sheet 

    3. The Bank balance will therefore be different to the Balance sheet balance as it will be $100

    4. The $1,000 transaction has not yet been reconciled with the bank so it can be changed / deleted etc if required.

    5. If the date of the $1,000 is changed to a date after the 7th August then the balance sheet will now equal the bank balance.

  5. Say we change the date on the $1,000 cheque transaction to the 9th August

    1. The saved bank req report will still list this transaction as unpresented - it shows the system at the time of doing the bank req

    2. Viewing the details of the closed bank req in the screen will now show $0 un-presented (a different figure to the saved report) as this figure shows unpresented transactions that are prior to the reconciliation date NOW (not as at the date of the reconciliation).

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