Go to ACH Transfers on the main menu and click Payment Transfer Logs.
The information displayed gives you the full details of the payment.
Some areas of importance are:
- Initiated Date - this is the date and time you initiated the payment.
- Payment Type - this tells you whether this was an Expedited payment (1 business day transfer time) or a Standard payment (2 business days transfer time).
- Amount - this is the agent's commission amount or the amount you paid to a vendor.
- Fee - if this was an Expedited payment it will show the fee here. *Expedited payments are no longer available.
- Fee Paid By - this tells you who paid the fee, the sender (company) or the recipient (agent/vendor).
- Net Payment to Agent - if the payment was Expedited and the fee was paid by the recipient then it will reflect the payment amount minus the fee. For example, the Amount was $7.20 and the fee was 25 cents, so the net payment to the agent was $6.95. If the sender (company) paid the fee, then the net payment to the agent is the same as the amount of their commission.
- Total Cost - the total cost to the company for this payment. If the sender (company) paid the fee than the amount of the fee is added to the amount of the commission.
If the recipient paid the fee then the total cost is the same as the commission amount.
- Notes - this will show the notes you've added for any vendor payments.
- ACH ID - this is an ID that will show up in your bank account when the payment posts. This ID will only show up in the payment transfer log once the payment has been completed. This ACH ID will be synced to QuickBooks and added to the Memo section for an agent's commission entry so you can easily match the entry synced from BrokerSumo to QuickBooks to the actual payment when it shows up in your bank account.
- Status - shows the status of the payment. You'll see either Pending, Processed, Failed or Cancelled.
- Pay Date - this is the time/date that the payment posted in the recipients bank account.
- Action - if the payment has not processed yet you'll have an option to cancel it.
Please note, if you try to cancel payment but it's already been processed then the system will not allow you to cancel the payment because the funds have already started transferring. This typically happens around 12pm CST the next day after you made the payment.