Cardnet Transactions

System
System Posts: 100,537 🤖 Admin 🤖
edited June 9 in General accounting discussion
My client takes credit card payments via a cardnet machine. How many days does it take for that payment to be paid into the bank account - any ideas?

Comments

  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:Cardnet Transactions

    I believe it's 4 working days.

    Sharon
  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:Cardnet Transactions

    I have only one customer that uses cardnet - a quirk that I have to deal with (which I can't establish whether it is the report that I get or the cardnet system) is that the amounts appear in blocks in the bank statment that don't necessarily match the report that I am given - making the reconiliation a little more tricky !

    Something to be aware of !
  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:Cardnet Transactions


    Debit cards and credit cards are normally paid at different times.

    The detail on the bank statement normally shows the date of the original transactions and by adding the two together, you should be able to reconcile to that particular day's trading.

    I use a simple control account and the balance at the end of each month tallies easily to the amounts received in the next month.

    Helen
  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:Cardnet Transactions

    Thanks everyone - it was just a query for a client.

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