VC Pay Processing Overview

Overview

After running through one of the cycles below, there will be 4 different records to reconcile against each other.  First is the deposit line on the Bank Statement.  This amount should exactly match the amount on the associated Veracross Payout record.  The amount on the Payout record should also match the Batch Total of the Cash Receipt Batch related to the Payout.  Finally, the Cash Account Item on the Journal Entry created in posting the Cash Receipt Batch should match the Bank Statement, Payout, and Cash Receipt Batch.

Bank Deposit = VX Payout = Cash Receipt Batch = Journal Entry

Step by Step Documentation

Depending on the type of Payout received, the steps to process it will vary slightly.  Below are links to the appropriate documents.

A. Payout with Only Receipts (No Donations)

B. Payout with Only Donations

C. Mixed Payout – Includes both Receipts and Donations

Payouts

A transfer from BlueSnap to the schools Bank Account will occur on the schools specified interval (daily, weekly, monthly, etc…) and when the gateway account balance exceeds a certain threshold.

The default interval is daily, and the default threshold amount is $5. These are the default and recommended interval and thresholds for transfers. However, if your school require different settings, you may ask for them to be adjusted.

 When the transfer occurs, a Payout record will be generated in Veracross automatically (and near "instantly", though moving the data into Veracross can take some small interval of time). 

 There are 3 reasons, however, why a payout would not occur.

1. Weekends
2. Holidays
3. The Balance in BlueSnap is under the minimum transfer threshold. This could be the case for 2 reasons.
   • Didn’t collect enough payments to meet the threshold.
   • A Refund was issued to bring the balance below the minimum

Refunds

If a refund is issued through BlueSnap, the amount of the refund will be withdrawn from the next Payout.  Depending on what type of transaction was refunded, it will be handled differently in Veracross.  In all cases, though, the original transaction must be processed and posted before processing the refund in Veracross.

1. Application Fees, Event Reg Fees, Program Reg Fees, and Deposits
   • Upon creation of the Cash Receipt batch, a ‘Refund’ simple receipt will be created.
   • When posting the Batch, a negative Cash Receipt Item will be added to the original Cash Receipt with the same GL Accounts.
     • This will result in a $0 Cash Receipt and negating Journal Entries.
2. Deposits Applied to Invoices
   • Upon creation of the Cash Receipt batch, a ‘Refund’ simple receipt will be created.
   • When posting the Batch, multiple Cash Receipt Item will be added to the original Cash Receipt in order to negate the application of deposit, as well as the original deposit item.
     • This will result in a $0 Cash Receipt and negating Journal Entries.
3. Invoice Payments
   • Upon creation of the Cash Receipt batch, a ‘Refund’ simple receipt will be created.
   • When posting the Batch, Cash Receipt Item(s) will be added to the original Cash Receipt in order to negate the invoice payments. If the original payment was applied to multiple AR Items, multiple Cash Receipt Items will be created.
     • This will result in a $0 Cash Receipt and negating Journal Entries.