Card type details are once again available to users! Bookkeepers everywhere have a need to know the explicit amounts paid by each type of card. But since the introduction of PCI security rules several years ago, this information was forbidden to be known by a POS system, until now. Stores that implement the new P2PE all-in-one credit card devices will once again enjoy this information at their fingertips.
Three new sub reports have been added to the bottom of the familiar Credit Card Deposit List. While everyone will see all three new report groups, only stores utilizing P2PE credit card devices will have much information to review in the first two reports.
The first report, Card Type Details lists 8 different card type totals plus a grand total that matches the Grand Total of the Credit Card Deposit List report. We hope this information makes your daily bookkeeping duties easier.
The Second report, titled Non-Swiped Cards is presented to inform you as to why your monthly card processing fees are larger than you (and all the traveling card processing salesmen) believe it should be. Very simply stated: non-swiped cards cost more (a lot more) to process than swiped cards. Use of the new AVS Address Verification System, present in Paladin POS equipped with P2PE credit card devices, COSTS LESS than non AVS qualified cards. Why pay more than you have to? Since this detail is presented terminal by terminal or employee by employee it is quite easy to see anyone that is not collecting and using AVS data and is costing you money!
The final report, Processor Attention, is presented on the Grand Total report only. Today’s credit card processing industry is in turmoil over recent major security breaches. Rules are changing and well established mores are changing too. With increased approval times we’re seeing an increase in the number of duplicate charges reported. A legitimate question was presented to us asking how bookkeeping staff could shortcut the reconciling process on days the processor’s deposit didn’t match the amount sent by the store.
Our answer was to provide a list of all credit card transactions that required more than one transmission to the processing platform. Rarely does re-transmission of an approval request result in a duplicate charge, but it has occurred. This list will vastly simplify the task of reconciling the store’s records to the credit card processor’s batch report.
A sample of the new report is displayed below with fabricated test data:
Remember to use our new report detailing Credit Card AVS Status detailed to you in build notice 7989 on 24-Jan-14 and our new Credit Card Expiration Report as reported in build 8042 on 19-Feb-14. Both reports add additional value and insight into an ever changing landscape of credit card processing fees, complexity and bookkeeping requirements.
If you have questions or suggestions about this information, contact email@example.com.