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Re: Reconciling credit card processing deposits

by
Koketso Mabuse, Koketso Mabuse
- 10/30/2014 18:09:26
Are you trying to segregate types of payments?

Sent from my BlackBerry® smartphone.

From: Chris Jones <chris.jones@saasier.com>
Date: Thu, 30 Oct 2014 21:57:38 -0000
To: Community<community@mail.odoo.com>
ReplyTo: "OpenERP S.A. Community" <community@mail.odoo.com>
Subject: Re: Reconciling credit card processing deposits

This suggestion balances everything but it doesn't help with matching credit card deposits with underlying invoices. There wouldn't be a $1000 payment, there would be individual payments for each Customer Invoice. $600 and $400. At the end of the month we need to make sure that there weren't more or less payments made through Register Payment in the Invoice as was deposited by the credit card processor. 



On Thu, Oct 30, 2014 at 2:17 PM, Humberto Arocha <hbto@vauxoo.com> wrote:

Hello Chris,

As you have told, you are dealing with reconciliation, I think that there is a missing concept in the middle, money to reconcile,

Let us say,

First transaction
Receivable (dr)  600
Income (cr) 600

Second transaction
Receivable (dr)  400
Income (cr) 400

Creating a payment with a journal named Credit Card

Payment with Credit Card
UnreciledCreditCard (dr)  1000
Receivable (cr) 600
Receivable (cr) 400

This last Receivables are reconciled with the first ones. Thus your customer invoices are paid.

Next, at the end of month you import your bank statements for your credit cards.

And a Journal entry like this should be performed,

Bank (dr)  1000
UnreciledCreditCard (cr)  1000

This last UnreciledCreditCard entry line will be reconciled with previous one.

As a conclusion you keep track on both your customer invoices paid, and  those payments that bank has to fulfill you.

Expect this can work for you,

Best regards

On Oct 30, 2014 3:12 PM, "Chris Jones" <chris.jones@saasier.com> wrote:
I've been struggling with this issue for 9 months now, talked to a half dozen developers and read every inch of documentation and have tried a ton of different addons and still can't find a good solution. It's getting to the point where I might just integrate with Xero and ditch OpenERP for accounting. 

Here's the scenario.

Credit Card processor sends over nightly batches for all processed transactions for that day. Let's say there are two credit card payments processed, $400 and $600. They wire a $1000 deposit. 

As soon as the payments are received the Customer Invoices are marked as paid using the Register Payment button. 

At the end of the month the bank statement is imported and the $1000 deposit shows up. 

If I leave the $1000 deposit in the bank statement I end up with double income. Otherwise I have to delete the $1000 deposit from the bank account and replace it with the two invoices using the Import Invoices function. But for that to work I have to go back and delete the Customer Payments so that the Invoices are Open again. 

If I don't use Register Payments it's difficult to keep track of which invoices have been paid until the end of the month. 

I've built a module that automates invoice reconciliation for credit card payments but it only works with the credit card processor Bluepay. I'm looking for a solution for those not using Bluepay. 

I tried the npg_account_make_deposit and npg_bank_account_reconciliation addons but they didn't seem to solve the issue. 

Thoughts? 

--
Chris Jones
SaaSier.com
Open Source ERP Solutions

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--
Chris Jones
SaaSier.com
Open Source ERP Solutions
310-400-0256

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