How does CORE handle BQE ePayments deposits?

When you create an ePayments profile in the Settings > ePayments screen, you have to specify the CORE bank account where the ePayments are to be deposited and an expense account where it logs the charges (e.g., processing fee) for the online payments. When a client pays you via ePayments and that payment is processed successfully, CORE automatically creates the payment transaction and deposit in the specified bank account. For an existing BQE ePayments user (merchant), it also logs the processing fees against the specified expense account. The money is actually deposited in your bank account in daily batches (excluding weekends), referred to as payouts, and each payout can include multiple payments grouped together as one deposit (it depends on which payments are cleared at the time of payout). However, for a new user, the first payout is deferred by 10 business days after approval. After the 10-day period, CORE will initiate the first payout transaction if there are accumulated balances by then and it might take additional 2 days before for the funds move to your bank account. This is a safety measure to prevent any fraudulent activities.

BQE ePayments charges a $0.30 fee per payout, but as of now, this charge is not automatically posted against the expense account nor reconciled. To make sure your CORE bank account reflects this charge after the payout happens, you must create a New Funds deposit on the account with the following details:

  • Amount: $-0.30
  • From Account: The expense account where you want to log the payout fee

Check CORE Help Center for more on creating deposits

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