Step 1: Payment is authorized
- Centime posts Payment to Undeposited Funds GL for all invoices included in the transaction.
- If applicable Centime posts:
- Journal Entry to Discount GL
- Journal Entry to Surcharge GL
Step 2: Settlement is pushed
- Centime creates Deposit to the Bank Account GL for all payments included in the settlement.
- Centime creates a Chargeback line in the Deposit for the Transaction Fee which includes all processing fees deducted from deposit.