A settlement cutover done on your EFTPOS machine “tells” the bank that your business is done trading for that day. This can only be performed once per day.
Follow the steps below to perform a manual settlement cutover:
1. Press “FUNC” on the keypad and press 1 for “MERCHANT“ (if option 1 isn’t “MERCHANT”, and is instead “QUICK ACCESS”, press 5 for “PAYMENT MENU”. Then you can press 1 for “MERCHANT”)
2. Press 2 for “ADMIN“
3. Press 2 to perform the cutover.
If you want to check the running total without performing the cutover, you can run a “Settlement Inquiry” by following the steps below:
1. Press “FUNC” on the keypad and press 1 for “MERCHANT“ (if option 1 isn’t “MERCHANT”, and is instead “QUICK ACCESS”, press 5 for “PAYMENT MENU”. Then you can press 1 for “MERCHANT”)
2. Press 2 for “ADMIN“
3. Press 3 for “SETTLEMENT INQUIRY” and enter the date (the terminal will save the last 7 days of transactions in its memory).
If you wish to perform regular settlement cutovers manually, we recommend doing this at the same time every day such as at close of business trading. For settlements not performed manually, Paymark will automatically do the cutover at midnight.
If you wish to set a settlement cutover window at a certain time, you can contact Paymark on 0800 729 627 to set this up for you.
