Bank Feeds
Part of Accounting integrations
Mapping POS totals without losing refunds and fees
Map POS sales, refunds, tenders and provider fees to the ledger, then reconcile each close with settlements and bank deposits.
Map point-of-sale (POS) totals as a reconciliation of sales, refunds, payment methods and fees. A single net card deposit cannot show all four. Set the posting unit first, such as a closed shift or trading day, and retain the POS report that explains each summary entry.
Read the close report before mapping accounts
Check what the POS calls gross sales: does it include GST, discounts, tips, gift-card activity or cancelled transactions? Check whether its refund figure covers refunds issued today for sales made on earlier days. The answer depends on the system's report definitions.
Record those definitions beside the ledger mapping, so a later software or report change is visible.
Separate sales activity from the way customers paid. Cash, card and other tenders may settle at different times. A card payment normally creates an amount to reconcile with the payment provider or bank; it should not automatically create a second sale when the bank feed arrives. If the POS also sends individual invoices or orders to the ledger, check whether importing its daily summary would duplicate them.
| POS component | Check before posting |
|---|---|
| Sales and discounts | Confirm whether totals are before or after discounts and which transactions are included. |
| Refunds and voids | Distinguish a completed refund from a cancelled sale that never settled. |
| Cash and card tenders | Compare tender totals with cash counted and provider settlement reports. |
| Fees | Identify fees withheld from settlement or billed separately; retain the supporting report. |
| Differences | Record an owner and reason instead of using an unexplained balancing amount. |
POS Component Checks Before Posting to Ledger
- Sales and discountsConfirm whether totals are before or after discounts and which transactions are included.
- Refunds and voidsDistinguish a completed refund from a cancelled sale that never settled.
- Cash and card tendersCompare tender totals with cash counted and provider settlement reports.
- FeesIdentify fees withheld from settlement or billed separately; retain the supporting report.
- DifferencesRecord an owner and reason instead of using an unexplained balancing amount.
Follow a refund through to settlement
A refund can appear in the POS on one day and reduce a later card payout. Keep its transaction reference and the original sale reference where available. Check the associated GST treatment with the accountant; a later refund can raise an adjustment question, and a software default is not enough to settle it.
Provider fees should have their own mapped treatment. Some may be withheld from a payout while others are charged separately. Compare the provider's fee report with what the POS exports before deciding whether the accounting integration or the bank feed will record the expense. Assigning both routes to the same fee duplicates it.
Mapping Fees: Bank Feed vs Accounting Integration
- Pros: Use bank feed to record feesAvoids duplication if fees are already reflected in the payout; aligns with actual settlement.
- Cons: Use accounting integration for feesCan cause double-counting if both system and bank feed capture the same fee.
- Pros: Use accounting integration for feesProvides better audit trail when fees are part of transaction processing.
- Cons: Use bank feed onlyMay miss fees not deducted from settlement, leading to incomplete expense tracking.
Reconcile each close
For a chosen shift, compare the POS close report with the proposed ledger entry by component. Match tender totals to counted cash and provider activity, then match later card payouts to bank deposits. Carry unresolved amounts forward with a reference. Before switching on unattended posting, test a return, partial refund, void, delayed payout and a fee charged outside the payout.
A discrepancy is a question to investigate, not an invitation to force the entry to balance. Preserve the original close report, the correction and who approved it.
Australian government guidance says businesses must keep records of income and sales, business expenses and bank records, as well as GST records if registered. A summary journal is most useful when those source records remain retrievable.
Reconciling Each POS Close
- Step 1Compare the POS close report with the proposed ledger entry by component.
- Step 2Match tender totals to counted cash and provider activity.
- Step 3Match later card payouts to bank deposits.
- Step 4Carry unresolved amounts forward with a reference.
- Step 5Test returns, partial refunds, voids, delayed payouts and external fees before enabling unattended posting.
