Billing Management should post payments at the total daily deposit level and not each individual transaciton payemnt level.

When posting Billing Management transactions from Billing Management (Post to GL function), deposit information from Billing Management should align with daily deposits noted from Merchant Services. The current Billing Management GL posting posts each payment individually when Merchant Services deposits a lump amount (not individual transaction amounts). It makes it extremely hard to reconcile the bank statement when the bank deposit via Merchant Service is net of fees (Billing Management is gross) and with grouped transactions and Billing Management data imported into the bank reconciliation via FE NXT is on a transaction level. In Tuition Management, Tuition Management payment information posted to FE NXT is the exact amount received for the respective deposit (not every transaction individually that made up that deposit). The bank reconciation process should not be this hard.

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  • Dec 27 2023
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