Credit Card Settlement allows you to view and modify credit card transactions prior to final processing. The Credit Card Settlements screen provides a list of credit card transactions. The screen provides information on the charge amount, charge date, guest name, room number, folio number, window number, credit card number, expiration date, and approval code.
Amounts on hold and Amounts to be settled appear at the bottom of the screen. The system calculates these amounts in real-time based on the transactions you select:
The Total Amount to be Settled represents the total amount of one or more credit card payment transactions selected for settlement.
The Total Amount on Hold represents the total amount of all credit card payment transactions not selected for settlement.
After reviewing transactions, the system sends the charges electronically to a third-party credit card processing company for batch settlement processing. Credit Card Settlement usually runs once a day as part of the end-of-day routine. You can also run this option at any time, for example, at the end of a shift.
Parent topic: Financials