One key difference with Shulware Integrated Payments (SIP) is that fees are automatically deducted from your account once a month.
This transaction will show up on your settlement file as a deduction equal to your monthly processing fees from the total funds received that day. For example, if you were due to receive $1,000 in collected payments today, but your prior month incurred $250 in processing fees, then the net to the shul for that day would be $750.
The fees are identified in the daily settlement file as a Transfer and you can then match the fees to your monthly processing fees invoice by going to Admin Menu-Integrated Gateway Invoice to confirm the amount.
Manual Batching Process - WITH FINANCIAL SYNC ENABLED
Following this process if you use the Financial Sync features of ShulCloud to transfer deposit information into your accounting software. If you do not use Financial Sync, follow the process below.
Step 1: Head to My Lists-Charge Type to add a new charge type for the Payment Processing Expense. You should make sure that this charge type is linked to the payment processing expense line in your accounting software.
Step 2: Go to Settings-Edit Settings and choose Deposit Page. Under the setting for Deposit Fee Charge Type, you should choose the charge type that you just created in Step 1.
Step 3: Head to the Admin Menu-Integrated Gateway Settlement and download that day's daily settlement file. The monthly processing fee will be identified as TRANSFER in the settlement file.
Step 4: Finally, go to the deposit screen where you will manually choose the transactions in that day's settlement file. Then enter the processing fee in the box at the bottom of the page called Fee Amount. You will then see the net amount as the total which matches what was deposited into your bank account for that day.
The video below walks through the process of how to manually batch deposits in ShulCloud:
Manual Batching Process - WITHOUT FINANCIAL SYNC ENABLED
If you do not use Financial Sync to transfer ShulCloud deposit data into your accounting software, you will not have the ability to add a line to your deposit in ShulCloud, as described above. Instead, we recommend this process:
STEP 1: Record a deposit in your accounting software with a negative line item assigned to whatever item in your accounting system that you normally use to record payment processing fees. That will give you a net deposit in your accounting system that aligns with your bank deposit.
STEP 2: In ShulCloud, record a deposit for the payments in the settlement file. In the Ticket box, add a note like "net $xxx.yy after monthly fees" where $xxx.yy is amount deducted from the settlement for the monthly processing fees. That will give you a record of both amounts in ShulCloud.