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Settle
Simple Explanation: The End-of-Day Batch Management window
allows you to re-transmit your transaction information to your terminal-based
payment processing company. Terminal-based re-transmission is called
settlement. Settlement initiates the transfer of funds from the customers'
accounts to your account. We recommend that most merchants settle their
batches once per business day.
If your processing company is host based, skip ahead to the section Batch
Management (see page 186).
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Note: Currently, the Settle Batch window can be used to settle batches for
applicable credit card and gift card processing companies. The Select
Merchant Number window allows you to specify which merchant account you
want to settle.
WARNING: Settlement is a necessary part of terminal based payment
processing! If you do not settle your batch, your payment processing company
will not initiate the transfer of funds from your customers' accounts to your
account (and vice versa).
Settling Your Batch
1. Click Batch on the menu bar. Click the Settle option.
2. The Select Merchant Number window will appear. Make sure that the desired
merchant account number is selected. Click the OK button.
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