Deductions on receiving the payment from Mswipe.
The net amount is the amount receivable after deductions.
The Final payment is the amount received from Mswipe.
Final Payment after loan deduction
The final payment after loan deduction is the calculation done by the software for net receivable. This is used to verify if the payment received is right.
Reconciliation of all Stores
After individual store reconciliation, the software sums up the total transaction amounts and verifies the total amount in the bank statement. This helps the merchant keep a track of the total payments received, not received, and even pending. It helps in analyzing net receivables and net deductions. A merchant can then accurately know which store is recording less payments and can also pinpoint the exact transaction.
Total Card Sales
In this line item, the Total card Sales for one month from all the stores are recorded.
Total Credit Card Sales
If the Total Credit card Sales for one month from all the stores are recorded here.
Amount Received as per Bank Statement
The amount that is received in the bank statement as Card payments is recorded here.
The difference between the Total card Sales and the amount received in the Bank Statement is recorded here.
The software does reconciliation of Mswipe transactions very easily. A business can automate the data upload and easily and readily view the results when needed. The results help the business keep an accurate tab on the sales done and payments received through which partner and also the net income of each store and all stores. The software accommodates automated data load in any format (XLSX CSV, PDF, etc.) which saves any form of manual effort. The summarized result is accurate and can be analyzed easily to make data-driven decisions for the business.