Introduction
This article explains expired POS transactions, the fact that KEV will be making a one-time special deposit into the district’s bank account to cover the transactions that have expired, outlines how you can identify the transactions that have been settled through this special deposit, and provides tips to prevent transactions from expiring in the future.
TABLE OF CONTENTS
- Understanding Expired Transactions
- Identifying the One-Time Special Deposit
- Restrictions and Adjustments
- Next Steps
Understanding Expired Transactions
Expired transactions occur when a credit card payment is completed at the Point of Sale (POS) but the batch is not closed within 30 days on the device on which the payment took place. When this happens, the credit card authorization expires, meaning the customer’s credit card is never charged, and the payment is not processed into the district’s bank account.
To prevent transactions from expiring, ensure the following:
- Keep POS devices powered on and connected to the internet overnight to allow the batch to close automatically.
- Regularly monitor device connection status to avoid missed batch closings.
To resolve the existing expired transactions, KEV will directly fund the amount of these expired transactions into the district’s bank account.
Identifying the One-Time Special Deposit
Inside SchoolCash, the one-time special deposit will appear in reports as if they were settled by the payment processor (Nuvei).
This means that this deposit will be trackable in the reports in SchoolCash Accounting/SchoolFunds Online and SchoolCash Catalog, like regular batched transactions. The deposit will show as an adjustment on your district’s bank statement.
If you would like a list of the POS expired transactions, please reach out to Support.
Restrictions and Adjustments
Transactions in the batch for the one-time special deposit cannot be processed as a credit card refund. Those transactions created receipts, but the cardholder was not charged, so any kind of refund will not be needed.
Next Steps
If you experience issues or need further assistance, please contact support.