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title: "EFTPOS Settlement"
canonical: "https://kb.myframeworks.com.au/space/FRAM/28383370/EFTPOS%20Settlement"
format: markdown
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# Overview

Businesses that accept payment via EFTPOS (Electronic Funds Transfer at Point Of Sale) terminals should regularly perform EFTPOS settlements for several reasons:

1. **Accurate financial records:** An EFTPOS settlement reconciles the payments made by customers with the funds deposited into the business's bank account. This process ensures that the financial records accurately reflect the sales made by the business.
2. **Timely access to funds:** Settlements help businesses ensure that they receive the funds from EFTPOS transactions in a timely manner. Settlements can be performed daily, meaning businesses can access their funds quickly and use them to pay expenses or invest in the growth of the business.
3. **Fraud prevention:** Regular settlements allow businesses to monitor EFTPOS transactions for potential fraud or errors. By comparing the transactions processed with the funds deposited, businesses can identify any discrepancies and take appropriate action.
4. **Easier bookkeeping:** Performing regular EFTPOS settlements simplifies bookkeeping and accounting processes, reducing the risk of errors and saving time.

Performing regular EFTPOS settlements is crucial for businesses that accept payment via EFTPOS terminals. Settlements ensure accurate financial records, timely access to funds, fraud prevention, and easier bookkeeping.

> ❌ Frameworks has the ability to process an EFTPOS settlement from within the application, however, it is a requirement for the terminal to be integrated. If you are interested in how integrated EFTPOS could be utilised within your business, don't hesitate to get in touch with Sterland Support[.](#)

## Using the EFTPOS Settlement Option

> ⚠️ EFTPOS Settlement is only available for Linkly/Integrated EFTPOS.

1. Click the **Frameworks Menu** icon and navigate to **Sales > Till Reconciliation & Banking >** **EFTPOS Settlement **from the navigation tree.
2. Click **Process** to trigger the EFTPOS settlement on the EFT machine. This prints out the required paperwork to the POS docket printer. This process ensures that the EFTPOS and credit card sales your business makes are settled into your linked business transaction account.
3. Take the receipt provided to your bank as part of your daily takings.

![image](media://201f09fa-a4ff-4c33-b4b3-9d3b5607ef1c)

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![image](media://24bd3296-1712-43be-b3df-f832fa0716a0)


# Additional Informaion 

> ✅ Refer to the [EFTPOS Settlement](https://sterlandsupport.atlassian.net/wiki/spaces/fwksproau/pages/30507106) Operator Guide for more information on other settlement processes.