This section describes how to create and approve a batch of automatic receipts to close your customers' credit card transactions.
Note: To decrease your processing time, thereby increasing your cash flow, you should create and approve a batch of automatic receipts in one step. You would create and approve a batch of automatic receipts in two separate steps if you want to review or need to confirm your receipts before approval.
The procedure for creating a batch of automatic receipts for credit card payment is similar to the procedure for creating automatic receipts for other Receivables transactions. First, you must specify selection criteria in the Create Automatic Receipts Batch window. Next, Receivables creates an automatic receipt for each transaction that matches your selection criteria.
When you approve automatic receipts, Receivables removes receipts from the batch where the approval code has expired. These receipts appear as exceptions on the Automatic Receipts and Remittances Execution report. See: Approving Automatic Receipt Batches.
Suggestion: For easier reconciliation, create a separate batch of automatic receipts for each type of credit card that you accept.
To create a batch of automatic receipts for a specific credit card issuer, enter a range of bank accounts (credit card numbers) in the Create Automatic Receipts Batch window.
For example, to create a batch of automatic receipts for American Express transactions, enter a bank account range from 300,000,000,000,000 to 399,999,999,999,999 (do not include commas).
Suggestion: Contact your depositing bank or credit card processor for the range of numbers for other credit card issuers.
See: Creating Automatic Receipts.
When you approve a batch of automatic receipts, Receivables calls Payments to obtain authorization for the receipt. If authorization details already exist, then Receivables will not attempt to call Payments, but will create and approve the receipts. See: Authorizing Credit Card Payments.
For each authorized transaction, the Approve Automatic Receipts program approves the receipt. Transactions that do not receive authorization are removed from the batch and appear as exceptions on the Automatic Receipts and Remittances Execution report. Receivables automatically creates this report whenever you create or approve a batch of automatic receipts.
Note: A receipt can fail authorization if, for example, the credit card number is invalid, the payment amount exceeds the cardholder's credit limit, or the card has been reported lost.
When the approval process is complete, automatic receipts that do not require confirmation close the invoices that they are paying. Receipts that require confirmation close invoices when you manually confirm the receipts in the Receipts window.