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Card Payment Configurations(MIGRATED)

http://wavelet.asia/customer-portal/?p=7631

In Wavelet EMP, the card payment configurations are used to specify the various payment modes using credit cards, but not including cash, cheque, etc.

 

 

Field Name

Description

Example Value

Sort Code

When the payment mode is being listed, sometimes, certain payment mode are displayed at the bottom, to make the application more users friendly, users could make use of this field to sort the drop down list according to sort code.  Hence, the frequently used payment mode could be sorted at the top.

 

100010, 100300, 300230, A2300 etc.

Bank Code

When selecting the payment mode, especially for credit card transactions, some point of sales would like the issuing bank of the credit card to be recorded. To automate this data entry, users could fill in the bank code, and at the Point of Sales, when this card payment configuration is selected, the bank code will also be auto populated.

 

RHB, MBB, PUB, SBB...etc..

Bank Name

This is for display purpose, instead of reading the bank code, it is more user friendly to allow the users to view the transactions by bank name.

 

RHB Bank, Hong Leong Bank...etc.

Payment Mode

The payment mode code is being displayed at the drop down list at the point of sales. When specifying the payment mode, it is important for the person who configure this to make it unique.

The payment mode will also be displayed in the management reports, collection reports etc. hence, should be carefully chosen.

 

VISA-MASTER, RHB EZ VISA 6M,

HLB EPP 12M etc...

Card Type

Sometimes, certain payment mode are only applicable to VISA, MASTER, AMEX, DINERS etc.

 

 

Policy on Finance Charges

The system is able to auto calculate the net amount paid by the banks when cashier uses the credit card terminals. The difference between the amount paid by the consumer and net amount is automatically charged to the P&L as finance charges.

The percentage calculations could be specified.

 

 

Preferred Cash book

The cash book at which the transaction would be recorded could be specified here for bank reconciliation purpose.

 

 

Branch Option / Branch

This is to decide whether the payment mode is applicable to all branches or if it is applicable to only specific branch.

The reason to filter the payment mode by branch is to minimize mistakes of the point of sales cashiers when selected the payment mode because certain payment mode may be applicable to specific branches. More options/choices for the cashier means more mistakes.

 

 

Default Payment Remarks

Safely ignore this field, it is only applicable to florist module.

 

Applicable for E-Commerce

If a certain mode is applicable to E-Commerce module, the same payment mode could be used in e-commerce. Otherwise, it is only for back-end processing purpose. Applicable to florist module only.

 

 

E-commerce Alias

A more friendly name or alias may be preferred when displaying the payment mode.

 

Admin Fee

At the Point of Sales, the policy on finance charges above are for the bank end, means between the merchant and the banks. For certain businesses with low margin, for example, computer shops, the finance charges for the bank might just erode the gross margin completely. Hence, there's a need to impose finance charges to the customers should they prefer to pay with credit cards.

 

OPTION -> Allow the users to specify whether to impose admin fee to the consumers.

Ratio -> 0.01 = 1% (percentage charges to the customers based on the card amount)

Rounding Scale -> When rounding off the admin fee, the precision in terms of the number of decimal places could be specified here.

Rounding Mode

 

ROUND UP

Rounding mode to round away from zero. Always increments the digit prior to a non-zero discarded fraction. Note that this rounding mode never decreases the magnitude of the calculated value.

ROUND DOWN

Rounding mode to round towards zero. Never increments the digit prior to a discarded fraction (i.e., truncates). Note that this rounding mode never increases the magnitude of the calculated value.

ROUND CEILING

Rounding mode to round towards positive infinity. If the BigDecimal is positive, behaves as for ROUND_UP; if negative, behaves as for ROUND_DOWN. Note that this rounding mode never decreases the calculated value.

ROUND FLOOR

Rounding mode to round towards negative infinity. If the BigDecimal is positive, behave as for ROUND_DOWN; if negative, behave as for ROUND_UP. Note that this rounding mode never increases the calculated value.

ROUND HALF UP

Rounding mode to round towards "nearest neighbor" unless both neighbors are equidistant, in which case round up. Behaves as for ROUND_UP if the discarded fraction is >= .5; otherwise, behaves as for ROUND_DOWN. Note that this is the rounding mode that most of us were taught in grade school.

ROUND HALF DOWN

Rounding mode to round towards "nearest neighbor" unless both neighbors are equidistant, in which case round down. Behaves as for ROUND_UP if the discarded fraction is > .5; otherwise, behaves as for ROUND_DOWN.

ROUND HALF EVEN

Rounding mode to round towards the "nearest neighbor" unless both neighbors are equidistant, in which case, round towards the even neighbor. Behaves as for ROUND_HALF_UP if the digit to the left of the discarded fraction is odd; behaves as for ROUND_HALF_DOWN if it's even. Note that this is the rounding mode that minimizes cumulative error when applied repeatedly over a sequence of calculations.

 

 

 

 

 

 

 

 

 

 

 

For florist module, the card payment configurations are used to represent all payment modes, including cash, cheque, terms, etc. Hence, the following fields that are specific to the florist modules are described below:

 

 

 


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