This release delivers four key enhancements to streamline your payment workflows, improve reconciliation accuracy, and enhance the client experience. Below is an overview of what’s new and why it matters.
1. Bulk Deposit Creation in Centerbase Accounting
What’s new:
Automatically grouped individual payment records into a single, consolidated deposit entry in Centerbase.
Each bulk deposit mirrors the total Stripe payout for a given day, matching your actual bank statement.
Why it matters:
Streamlined Reconciliation: Reduces manual effort reconciling dozens—or even hundreds—of individual transactions against a single bank deposit.
Improved Accuracy: Ensures your Centerbase accounting deposits align 1:1 with Stripe’s actual daily payouts, minimizing discrepancies.
2. Opt-In/Opt-Out for Automatic Bank Deposit Creation
What’s new:
A new toggle in System Settings to enable or disable automatic creation of deposit records in Centerbase.
When disabled, you can choose to manually generate deposits on demand, giving you full control over when and how deposits are recorded.
Why it matters:
Flexibility: Tailor your workflow: automate deposits when you want hands-off efficiency, or create them manually to align with your firm’s internal processes or review requirements.
Risk Management: Prevent unwanted or premature deposit entries—ideal for firms that require an additional review step before recording funds.
3. Manual ACH Payments Option
What’s new:
A new “Manual ACH” payment type available in the Payments Portal and API.
Firms can now enter ACH details over the phone or in person, then process the payment directly—no need to direct clients to an online form.
Why it matters:
Enhanced Convenience: Supports phone-in or in-office payment collection, accommodating clients who prefer not to or cannot use the web portal.
Broader Accessibility: Captures additional revenue opportunities by removing barriers for clients without immediate online access.
4. Automated Client Receipts via Email
What’s new:
Upon successful settlement of any payment (card or ACH), Centerbase will automatically send a professional receipt to the client’s email on file.
Receipt includes payment amount, date, transaction reference, and firm branding.
Why it matters:
Client Confidence: Instantly confirms to clients that their payment has been processed—reducing inquiries and support tickets.
Compliance & Record-Keeping: Provides a clear audit trail for both your firm and your clients, aiding in bookkeeping and client service.
Getting Started
Review System Settings: Confirm your preferences for automatic deposit creation. System Settings > Payment Processor > Centerbase Payments > Banking Details
Update Internal Processes: Communicate the availability of phone-in ACH payments to your front-desk and billing teams.
Inform Clients: Let your clients know they’ll now receive instant email receipts—no action required from them.
Monitor Deposits: Tonight’s release will begin generating bulk deposit entries at your next scheduled payout.
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