Clearinghouse reports help you understand what transfers of funds must be done between your merchants and your head office, in order to collect and refund all the money linked to you program's liability.
If you have a full clearinnghouse enabled, this report shows you what movement of funds have been sent to the bank for the period.
The clearighouse reports may run at different frequencies but the reports (of the previous period) are generated and available in the system on Wednesdays – however the run date on the report is that of the previous Sunday i.e., the last day of the period.
Clearinghouse Summary
From the main menu, select Billing / Summary
Select the merchant
Select the operation date – Note: the run date on the report is that of the previous Sunday i.e., the last day of the period.
Click Search.
The following information will appear on screen:
Transfer to Head Office – These columns represent the total amount of gift card activations/ points or punch accumulations completed by the merchant in the given period.
Amount: Total amount of gift card/point activations/punch accumulations ($).
Net Amount: Net amount that was debited from the merchant’s account. The calculation for this amount is as follows: amount of activations/accumulations ($)/punch accumulations – amount of redemptions ($)/reward expirations.
Transfer to Merchant – These columns represent the redemptions/reward expirations/ payments by gift cards made by the merchant in the chosen period.
Amount: Total amount of redemptions/reward expiration/payments.
Net Amount: Net amount credited to the merchant account. The calculation is as follows: Redemption amount ($) /reward expirations – activations ($) /accumulation amount ($).
Clearinghouse Total – This section calculates the total amounts for all displayed merchants and of the ACH, for the period. If the user has access to a unique merchant, the information in the first section will be the same information as in the clearinghouse total section.
Clarification:
There can only be one net amount displayed in the period, however, the merchant will see a debit AND a credit for every period, according to the activity of the period and the totals seen in the clearinghouse report.
Details of the Clearinghouse Summary
Once a line is selected, you will have access to the “Transaction Details” button.
This will bring you to the following page which includes the detail of the individual transactions that comprise the total amount in the summary including:
The date of each transaction
The card number
If it is an activation / accumulation or a redemption
Got questions or need a hand? Just pop into the chat to talk to our team, or shoot us an email at [email protected]—we’re here to help!