When submitting a future initial billing and/or recurring order on our Virtual Terminal, we have two reports that provide information on these transactions. Future Initial Billing To review your future initial billing transactions, head to the Reporting dropdown menu and choose Future Billing Report. From there, all initial billing transactions and their subsequent (second) transaction…
Actum Processing, a third-party processor, solely works with merchants processing transactions (debits and/or credits) in the ACH or Automated Clearing House network. ACH, which has been in existence since the 1970s, does not happen in real-time. However, processing speeds have increased by leaps and bounds in the past 50 years. Typically, it takes a couple…
Altogether, our Payout Report serves as the central hub of information pertaining to your processing fees associated with your merchant account transactions. If there’s a report that breaks down a merchant’s overall activity, then this report provides an overall perspective. In this case, this entry walks merchants through on using and understanding our this report.…
When merchants process ACH transactions, they can accept authorizations in many ways. Each has its compliance requirements that merchants need to familiarize with when accepting ACH. The way in which ACH transactions are authorized depends on the Standard Entry Class (SEC) code(s). With this in mind, this post explains SEC codes along with Proof of…
All things considered, ACH payments can return for one of 85 reasons. By the same token, Actum can help automate the processing and notification of returns for merchants to avoid returns due to manual errors. Also, Actum can eliminate the stress that comes with managing returns on your own by understanding these codes. With this…
Merchants have the ability with viewing settled transactions with the Merchant Activity Report by logging into https://reports.actumprocessing.com. In fact, the reports in our portal provides indispensable information for your merchant account. Moreover, this entry walks merchants through on viewing transactions as they head towards the final leg of the ACH cycle. As can be seen,…
Transaction fees are based on the pricing outlined in the Exhibit B. In this case, please review your Exhibit B. First, the following formula calculates the costs for each individual debit transaction: (Per Debit Fee x Total # of Debits) + (Total $ Amount of DebitsxDiscount Rate %) = Total Fee On the other hand,…
In general, understanding funding schedules helps merchants in terms of anticipating their funds. With this in mind, this entry illustrates the time window for merchants. 5 Business Days • Day 0 – First, the bank receives transactions submitted before the cut-off time. • Day 1 – HOLD – In this case, the funds reached the…
You can access the Merchant Activity Report by following the instructions below. 1. Log-in to your Actum account by going to https://reports.actumprocessing.com.2. Under the Reporting menu option, left click on Merchant Activity Report.3. Choose a date range to review transactions. For all transactions submitted since January 1st, choose YTD (year-to-date) and left click on the…
Reconciling deposits with transactions may seem daunting at first glance. However, this entry provides instructions on how reconciling deposits in our portal, which may help with understanding your funding schedule. 1. First, log-in to Actum through https://reports.actumprocessing.com.2. Move your cursor over the Reporting menu option and select Merchant Deposit Summary. 3. Select the specific month…