If you are a merchant, you know how complicated and tedious it can be to match the records of credit card purchases with the final deposits in your banking account.
There's a simple explanation for this—most credit card transactions require multiple vendors to process a transaction. These vendors can include your payment gateway, processor, acquiring bank and even your depository bank account. Each of these vendors has a separate report with its own format. Also, each of these vendors is charging fees for their services, sometimes bundled together by one vendor, other times separate.
So to get the complete financial picture of a card transaction from start to finish, it becomes necessary to sift through all these various vendor reports. Then you have to see that each of them matches up. And that is a pain in the you-know-what.
With Qualpay, the payment gateway, processor, and acquiring bank are all integrated into one single payments platform. Consequently, there are no separate reports that need analysis. Instead, all the information you require to get a clear picture of each of your transactions comes from just one source—us. That makes for more seamless and robust reporting capabilities that can also be tailored to your individual needs.
For example, with Qualpay, you can create custom reports designed for specific employees or specific tasks. You can also add filters to your reports that will make your searches even simpler. More than a dozen filters distinguish transactions by name, date, card type, and every other way you would seek a purchase record.
Better still, our fully-integrated payments platform works across all of your sales channels. That means you don't need separate merchant accounts for, say, in-store purchases versus online sales. So reconciling the numbers from such separate revenue streams is no longer a problem. Because it's now all tied together.
When we tell you that Qualpay has the best reporting in the industry, we're not just puffing out our chests. We don't need to do that. We've got superior reporting features to back up our claim. Look for yourself:
One reconciliation report lets you see it all in one glance. Our comprehensive reconciliation report allows you to quickly and easily match what has either been funded into or deducted from your depository account, matching amounts to batches or disputes. Each batch amount will reference all the sales included, and each dispute maps to the impacted sale.
Pending transactions are all lined up at the end of the sales day. Before a batch of transactions is processed, the transactions are all listed to determine whether they are ready for batch processing or not. If a problem arises with a transaction during this period, you have an opportunity to void and cancel the payment.
Every batch ever listed is in your batch history. All the transactions in the last 24 hours are batched out and processed with the card brands at the batch close. Meaning money moves from the cardholder to the acquiring bank. All your batches and the associated transaction details transactions are presented in your batch history. The batch report updates once you are funded for the batch, making it simple to cross-match batch figures with deposit figures.
Never lose sight of batches due for payment. There is a brief period between batch processing your transactions and when you get funded. During this time, the pending funding report provides a view into all batches due to be funded, so you don't lose sight of any monies due.
A dispute dashboard backs up your side of the story. Use work queues to manage and respond to disputes and the disputes history report to view the current status. Each dispute is linked to both other related dispute types and the original sale.
See all the credits and debits made to your depository bank account. We keep a complete history of all the deposits made to your bank, including credits for batches and debits made for disputes and other fees.
For a more detailed look at reporting and how Qualpay makes it easier to match your sales with your final deposits, check out the Guide we have written: Reporting Guide.
Qualpay is a fully-integrated payments platform that utilizes the most up to date technology to reduce costs and streamline back-office operations. Its comprehensive system addresses and resolves the payment challenges businesses face, ensuring a stronger, more robust infrastructure that allows companies to focus on growing their business. Qualpay's reporting intelligence and data analytics allow customers to quickly and efficiently manage their payment finances, saving them both time and money. Simply put, Qualpay provides a better way to manage payments. For more information, please visit www.qualpay.com.