Get A Clearer Picture of Your Monthly Processing Fees
By: Ashley Hiatt
Internal Training Department
Have you noticed the update to the Monthly Billing Statement report located on the Billing Tab in the Club Reporting System? With new links in the deductions section for Credit Card Pass Thru and ABC Processing Fees, you are now able to get a clearer picture of your monthly processing fees. In other words, clubs can now get a full breakdown of how much you are paying to credit card companies and ABC Financial for processing your monthly membership payments.
To view details regarding the merchant fees (Visa, MasterCard, American Express and Discover), click the blue underlined Credit Card Pass Thru Fee link in the deductions section of the Monthly Billing Statement. This will display a report that will show how many transactions were processed for each credit card type. You will also see the Total Transaction amount that was processed, the Percentage Commission Fee amount and the Monetary Transfer Fee amount. The total amount deducted for each credit card type is located in the “Total Amount” column. The grand total for all credit card pass thru fees is shown at the bottom of the report.
The Credit Card Pass Thru Fee report gives information on the fees being paid to the credit card companies. To find the breakdown of how much is being paid to ABC Financial Services for processing the payments, we have provided the report titled “Processing Fees”. When you run this report, you will see a description of each payment category and how many transactions were processed. The Transaction Amount is the total amount billed for each payment type and the Monetary Transfer Fee amount is the amount paid to ABC Financial. The grand total for all transactions is listed at the bottom of the Total Amount column.
Remember, this update was made to the Monthly Billing Statement report located in the Club Reporting System and should be used to get a breakdown of the monthly processing fees and credit card pass thru fees.
ABC Financial knows your time is valuable and we have provided this feature for your convenience. If you still have questions regarding the breakdown of credit card pass thru fees and processing fees, please contact our Technical Support department at 1-877-222-5767 and we will be happy to assist you.