Who this is for: school and district bookkeepers, treasurers, and financial administrators managing online store revenues in Edlio Pay (OSP).
Understanding Deposit Schedules & Remittance
Funds collected through your school's online payment store are batched and disbursed directly into your designated school bank account via Automated Clearing House (ACH) transfer:
Deposit Timing: Depending on your district contract, deposit batches typically run semi-monthly (such as the 1st and 16th of each month) or on designated weekly schedules (often Tuesdays). Each deposit covers transactions completed during that respective payment window.
Bank Settlement: Once an ACH transfer is initiated by Edlio Pay, financial institutions usually take 1 to 3 business days to post the settlement funds to your school ledger.
Deposit Summaries: Bookkeepers receive automated email notifications confirming the total deposit amount, invoice references, and period dates whenever a transfer is processed.
Accessing and Reading Your OSP Statements
Detailed reconciliation reports showing all orders, payment method fees, and deductions are available in the administrative portal:
Log into the OSP Management Portal.
Navigate to the Statements tab from your main top menu.
Select the Statement ID or date range you wish to reconcile.
Review the itemized breakout, which matches gross sales, non-refundable card processing fees, and net ACH remittance amounts.
Negative Balances and Refund Netting ('Refund Withholding')
When a school issues customer refunds through OSP, the timing of those refunds directly impacts your bank statement:
Same-Period Refunds: If a refund is processed within the active open sales period, it is subtracted directly from gross sales, reducing that period's net ACH deposit.
Prior-Period Refunds (Refund Withholding): If a refund is issued after a prior period has already closed and settled, the refunded money cannot be deducted retroactively from the closed deposit. Instead, OSP places a temporary Refund Withholding deduction on your account, which automatically nets out against your next positive sales cycle.
Negative Balance Rollovers: If your refunds exceed your sales during low-volume periods (such as summer breaks or canceled events), your statement balance will reflect a negative amount. Negative balances carry forward automatically and are satisfied by incoming revenues from future store sales or manual reconciliation check arrangements.
Reconciliation Note: Individual customer refunds do not appear as separate line items on your commercial bank statement. They appear exclusively as net deductions on your internal OSP Statements.
Changing Your School Bank Account (ACH Update Form)
Because banking changes govern direct wire and ACH transfers, bank account details cannot be updated casually or over phone calls:
Request an official OSP ACH Update Form from Edlio Pay Support.
Complete all required fields: School Legal Name, District, Bank Name, Routing Number (ABA), and Checking Account Number.
Attach a copy of a Voided Check or a formal Bank Verification Letter printed on financial institution letterhead.
Ensure the document is signed by an authorized school administrator or district treasurer.
Submit the completed package to Edlio Pay Support. Please allow 3 to 5 business days for banking pre-note verification prior to live deposit routing.