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New Feature Update – SpendaPOS End-of-Day Funds Settlement

Ola Polczynski
11 February - 3 min read

End-of-day funds settlement just got a whole lot easier with Spenda’s new feature upgrade in SpendaPOS.

For businesses who are currently using Spenda’s virtual terminal and integrated EFTPOS solutions, this upgrade provides greater accuracy and better transparency of funds which helps to eliminate manual errors and makes it easier to action post-shift and end-of-day settlements.  

Here’s what’s new:

All transactions that are made via the virtual terminal and integrated EFTPOS system will now be automatically pre-filled into the system upon settlement. And because these values are directly fed in from the day’s transactions, these amounts are fixed and users will not be able to manually alter them. This function eliminates the need for staff to tally up sums at the end of the day, meaning there’s less room for error and it also becomes a huge time-saver for the business.

However, there is still the option to manually enter in sales that were not processed via the virtual terminal or integrated EFTPOS system.

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SpendaPOS: Prefilled amounts automatically showing upon settlement

Then, once all the amounts have been entered and the register has been balanced, a digital receipt showing all transactions made for the day will be made available.This receipt includes a clear breakdown between transactions made via the virtual terminal, integrated EFTPOS and any other manual payments.

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SpendaPOS: Funds Settlement receipt showing transaction breakdowns

This breakdown gives business owners greater transparency of how transactions are made and shows the exact corresponding amounts that they can use to reference and cross-check with their financial data.

 How you can access these new features:

Users will soon be prompted to upgrade Spenda via the App Store. If you need help upgrading to the new release you can access our live chat directly from the SpendaApp by clicking on our logo at the bottom left corner or by calling 1300 682 108 for assistance.

Alternatively, If you currently aren’t using a virtual terminal or your Spenda EFTPOS terminal is not integrated and you would like to access these new features, please get in touch with our sales team via sales@spenda.co to get set up.

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