Auto Master Payment Demo Part 2
Part 2 of this multi-part series demonstrates just how easy it is to post payments in Auto Master Systems and reconcile using PaymentVision’s batch control and integrated reporting system.
You demanded it, we built it!
For years, customers have been asking for an integrated, PCI-certified, universal payment processing solution for Auto Master, and PaymentVision has delivered.
PaymentVision, with over 20 years of payment expertise, and Auto Master have joined forces to put together an exciting package for AMS users, unmatched by anyone in the industry.
Whether by ACH, check, credit card or debit card, entering and managing payments has never been easier, faster, and more secure.
Part 2 of this multi-part series demonstrates just how easy it is to post payments in AMS, and reconcile using PaymentVision’s batch control and integrated reporting system.
PaymentVision provides users with the ability to control their batch cutoffs, at various organizational levels, for all payment types across all payment channels from directly within AMS.
This enables dealers to tie their deposits to their cash drawer reports, turning what once used to take hours, into a simple 5-minute reconciliation process.
Batch cutoffs can be established from within the PaymentVision Batch Manager. The PaymentVision Batch Manager provides a list of all merchant accounts the dealer has registered with PaymentVision, and the last time a batch was created.
Let’s select an account and create an ACH batch. This will send the request to PaymentVision, to create a batch composed of all ACH transactions received since the last cutoff, retrieve the transaction details of this batch, and assign a batch ID to each transaction in AMS.
In this particular case, AMS has noticed that payments have been received through PaymentVision’s IVR and web payment channels since the last cutoff.
The system asked the user if they would like to post these payments now. By selecting yes, the system will automatically post the payments to the appropriate loan accounts, alleviating the need to manually post payments or wait the next day to import a file.
Dealers can run this once in the morning, and once again in the evening to control their batches and keep AMS up-to-date with payments captured outside of the system.
Dealers can then reconcile the two systems from directly in AMS using an integrator reporting system. Let’s step through this advanced reconciliation workflow.
From within the PaymentVision Report Center, select the date range that you would like to reconcile, and click on “Get Batch List.”
AMS will send a request to PaymentVision for a list of batches that have been processed during the selected date range.
Next, select the batch, and click “Generate Report.” This will send the request to PaymentVision for an itemized list of transactions, contained within the selected batch.
As you can see, the system provides a breakdown by location, by user, and by payment channel. The total amount displayed on this report should directly correspond to a deposit in the dealer’s bank account. We’ll leave this report open, and come back to it later.
Now, let’s make sure these payments are all accounted for in AMS. From within the AMS Report Center, open up the cash drawer report. Under the Specific Actions tab, click on “PV Batch.” This will provide a list of batches as recorded in AMS. Check the box corresponding to the batch ID used to generate the PaymentVision batch report, and click “Print”.
AMS will produce an itemized list of transactions and totals as recorded in AMS. To reconcile AMS in PaymentVision, simply compare the total amount on this report with the total amount on the PaymentVision report. As you can see, the totals match.
As a user of the Auto Master system, you are eligible for all these enhancements.
Call to set up a 15 minute demonstration to grasp the possibilities, accelerate your receivables, and start saving money today.
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