I'm viewing my account statement. What do the transactions and headings (e.g. Trans Date, Description, Source...) mean?
As shown below, transactions are financial records that increases or decreases the balance of your account. Each row represents a transaction.
Please refer to the following for the heading/column meanings:
- Trans Date - Transaction date is the date when the transaction occurs (e.g. when your provider performs the service).
- Posting Date - Posting date determines when the transaction is finalized, posted and displayed to you.
- Description - Where available, the description of the transaction (e.g. cheque number).
- Source - Type of transaction. Types include but not limited to the following:
- Credit - A credit transaction. Decreases the balance of the your account. A credit transaction is normally used when your provider gives you a refund.
- ADJ - A charge transaction. Increases the balance of your account. A charge transaction is normally used when your provider charges your for their children's services.
- CSH - A cash payment transaction. Decreases the balance of your account. This is a cash payment you made to your provider.
- CHQ - A cheque payment transaction. Decreases the balance of your account. This is a cheque payment you made to your provider.
- CSH or CHQ with the label VOID in the Description column - A void payment transaction. Increases the balance of your account. This is normally used when the payment you made did not go through such as a bounced cheque.
- Amount - Transaction amount. Your balance is adjusted equal to the transaction amount. Any amounts with a bracket (or parenthesis) decreases your account balance and represents a credit transaction such as a refund or payment.
- Balance - Running balance of your account.
Additionally, Previous balance represents the account balance carried over from the day before the start date of the account statement you are viewing. For instance, if the date range you used to view the account statement or transactions is from February 1, 2008 - February 29, 2008, previous balance is equal to your account balance on January 31, 2008. In other words, if the balance on January 31, 2008 is $100, the previous balance of the account statement with a starting date range of February 1, 2008 is $100.
Current Balance, On the other hand, represents the final balance of the account statement you are viewing.
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