How do I change my Clearing or Bank account for EFT/ACH payments?

To change the Clearing or Bank account you have set for credit card, EFT or ACH payments follow the steps below:

Note: We recommend using a Clearing account or Undeposited Funds and here is why:

Here's a simple example to explain why we recommend using undeposited funds or a clearing account:

1. Example Scenario:

   - You have 5 transactions today totaling $500.

   - In a few days, your bank will show a single $500 deposit.

2. Without Using Undeposited Funds or Clearing Account:

   - Each of the 5 transactions gets recorded directly in your checking account in QuickBooks.

   - This means you have 5 separate entries to match to the single $500 deposit, which can be confusing.

3. With Using Undeposited Funds or Clearing Account:

   - Undeposited Funds:

     - Record the $500 deposit in QuickBooks.

     - QuickBooks will help you match the 5 transactions to this deposit.

   - Clearing Account:

     - Record the $500 deposit by debiting your bank account and crediting a clearing account.

     - Check the clearing account against your Payment Gateway statements to make sure everything matches.

Using these methods keeps your QuickBooks neat and makes it easier to see that everything matches up correctly.

Step 1: Login to Benji Pays.

Step 2: Click on "Settings>Payment Gateway Settings".

Step 3: Next to the payment gateway you wish to edit, click the pencil icon. Scroll until you see "EFT/ACH or Credit Card Payment" and choose the correct account from your accounting software from the drop down menu and click "Save Gateway". 

Business Central

For Business Central companies the account dropdowns in gateway settings list your Business Central G/L accounts. 

The Payment Account you select for a currency is a clearing account, and when Benji Pays creates a cash receipt journal for the gateway it uses that account as the journal's balancing account. If you change the Payment Account after the journal exists, the journal batch keeps its original balancing account; update Bal. Account No. on the batch in Business Central (Cash Receipt Journals > Edit Journal) or create a new journal from Settings > Business Central Settings.

The Settlement Deposit Bank Account fields list your Business Central Bank Accounts (not G/L accounts). Choose the bank account your processor deposits into.

If you do not have a clearing account yet, use Create Account next to the Payment Account field and Benji Pays will create one in Business Central named for the currency, for example BPCLR-CAD.