Grocery POS News

The Importance of Checking Your Credit Card Batches Daily

Aug 27, 2020 12:41:00 PM / by Lynn Skurla Perkins posted in Accepting Credit Card Payments, Integrated Payment Solutions, Credit Card Batches

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We posted this originally back in 2017 - but thought it was worth re-posting as an important reminder!  Today more than ever, you need every $ in your bank account.

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In some businesses, credit sales account for over 80% of their daily sales.  If this is your business, you are depositing very little cash every day.  And while most of us count for and reconcile the cash, are you reconciling your daily credit card deposit to the credit card batches that actually go into the bank?  It seems easy and automatic, but here are a few tips and tricks we have learned over the last couple of decades installing integrated credit card systems.

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Understanding Daily Discounting

May 27, 2020 1:24:56 PM / by Lynn Skurla Perkins posted in Accepting Credit Card Payments, Credit Cards, daily discounting

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One of our processing partners, Clearent, offers insights to the differences between the Daily Discount and the Monthly discount for credit card fees and why it might be useful during this economy:

The Power of Daily Discount

Credit card processors typically offer two billing options, Daily Discount and Monthly Discount. The difference between the two is the timing of when the fees are deducted from the merchant’s account.

The impact of COVID-19 on our economy has led many small business owners and consumers to take a closer look at their expenses and work harder to stick to a budget.

And,.as COVID-19 continues to impact our economy, Daily Discounting can be used as a helpful budgeting tool.

Daily Discount is when fees are deducted from the merchant’s daily sales volume – a little bit at a time. With Monthly Discount, the merchant receives the gross deposit from their sales and their credit card processor deducts all fees at once.

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