Accepting Debit Cards as a Form of Payment

This lesson will go over how to set up a debit card in CurrencyXchanger and how to accept a debt card transaction.

Set up a Debt Card Subledger Account

  • Open the 'Subledger' module by double clicking on 'Subledger' in the modules panel.
  • Click on 'All' in the Sub-ledger toolbar.
  • If you don't have a Debit Card Account or a Sub-ledger Account yet, you need to create this.
  • To do this, click 'New' up in the toolbar.
Set up a Debt Card Subledger Account

A Sub-ledger entry form will appear.

  • Enter Debit Card under 'Account Name' then hit the <TAB> button or click on the 'General Ledger Account' field.
  • You will be directed to another window.
  • Pick a main account type. You can either type 'Cash' under 'Please pick a Main'
    or select it from the list below 'Ledger Account Name' and double click on it or hit 'Pick'.
  • You'll see that the 'Cash' cheque box has been ticked.
  • Check off the 'Settlement Account' box since your Debit Account will need to be settled either at the end of the day or the end of the week.

    Note ** A Settlement is the act of paying off a balance due. 'Settlement Accounts' are usually brought to a zero balance on a daily basis.
  • Also be sure to check off  'Display this account in the pulldown menu in invoice'.
  • Then click 'Save'.
  • You'll see that now the 'Debit Card' has been added as a Sub-ledger Account.

Enter a Transaction

  • Open a new invoice by double clicking on your 'invoice' module then hitting 'New' on the tool bar.
Enter a Transaction

Sell currency to Buyer

Sell currency to Buyer

Note it is possible to accept debit payments from a walk'in customer

  • If your customer wants to buy a currency from you, click 'Sell'.
  • Enter the 'Amount' and Currency you wish to sell (ie; 300 EURs).
  • Then click 'Add Row' and enter the Quantity and Denominations you are selling to your customer.  
  • Click 'Add Line' and 'Save'.  
  • Now you'll see the amount you should receive from your customer in red to the bottom right of the invoice next to 'Due Receivable'.

Accept your customer's payment by debit.

  • If your customer is paying by Debit Card, first type 'Received' in the upper field.
  • Then select 'Account' from the drop down menu next to 'Payment'.
  • Another drop down menu will appear next to the drop down menu you just selected from.
  • Select 'Debit Card' from the drop down.
  • Then click 'Add Row'.
Accept your customer's payment by debit.

Enter the Reference Number

  • You will be directed to another window 'Receive in Account'.
  • All the information of this transaction is listed as well as a 'Reference #' field.
  • Use the 'Reference #' field to enter the reference number that is on the printed debit machine receipt
    in order to do reconciliations at the end of the day and to match up the transaction.
    **Make sure the transaction went through without any problems, and then enter the debit machine reference number for future reconciliation.
  • Hit 'Save'.
Enter the Reference Number

(Copy)

  • The cheque mark at the bottom of the invoice indicates the invoice has balanced itself out
    (ie Sold 300 Euros to the customer who paid with a debit card into the debit card account).
  • Click 'Save'.
  • Print the invoice if you wish.

 

(Copy)

Accept another transaction using Debit as a form of payment, but with an added fee.

Accept another transaction using Debit as a form of payment, but with an added fee.