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In ContactsLaw, the general receipt aggregation activity is used to process general receipt transactions in bulk, for the purpose of recording bank deposits or reconciling credit card transactions against a merchant summary slip.
 
This type of transaction aggregation is compatible with receipts with the following payment methods:
  • Cheque
  • Bank cheque
  • Cash
  • Credit card / EFTPOS
General receipt aggregation
Authorised, unprocessed transactions of this type will appear in the grid. The receipts to include in the deposit/merchant summary are selecting using checkboxes and a banking date is added. The transaction date for all included receipts is updated to reflect the banking date. There is nothing further to add to the transactions; general receipts do not support clearance delays in the way that trust receipts do.
 
A bank deposit slip can be printed from this type of aggregation, which summarises the cheques/cash and simplifies the process of depositing the funds in-person (at a bank branch).
 
Credit card merchant summaries are not applicable in all environments. This type of aggregation is used when an EFTPOS unit does not operate in real-time; that is, the machine periodically (usually once a day) sends its transactions to the bank. This behaviour often results in multiple transactions being combined into a single line on the bank statement. When the machine prints the merchant summary slip, the amounts can be reconciled against the transactions in ContactsLaw, then grouped together to mirror the next bank statement. (In this scenario, the physical credit card transaction takes place while the transaction in ContactsLaw is in the 'authorised' state. The 'processed' state refers to the point when the transaction has been verified against the merchant summary.)

Workflow

This activity supports a 2-step workflow:
  1. The first step (draft/request) groups the transactions and prevents them from being included in any subsequent deposits.
  2. The second step (finalise/process) marks the transactions as processed, allowing the funds to be drawn upon.

You may choose to implement only the second step; it simply allows the deposit to be verified with the bank so that funds are not drawn upon before the bank has acknowledged receiving them.

See also