This article explains how SchoolInsight’s Payrix Disbursements report helps bookkeepers enter data into the district/school’s accounting system. To access the report:
- Go to Main > Online Payments > Payrix Disbursements > Account Code Breakdown
The Payrix Disbursement report displays details about each disbursement (details in this KB), and you can expand them to see more information.
The Account Code Breakdown tab categorizes payments by account code, which should match your accounting software. This should provide the necessary information to enter an appropriate transaction for the disbursement into your accounting system.
What about rounding? Payrix calculates fees to 5 decimal places, how will this impact my reporting?
The Account Code Breakdown tab will handle rounding for you. It takes all the Payrix Fees (calculated to 5 decimal places) and subtracts the fractional penny that’s rolled over to the next disbursement. This will give you a clean dollars/cents value to enter into your financial system. The fractional amount that’s rolled over will be applied on the following disbursement.
If you have not set up account codes, or would like to review them, read the following knowledge base article for further details: How do I set up account codes to handle account reconciliation better?