Introduction
To effectively navigate the dashboard, it is essential to understand key financial terms and their significance. This help topic aims to clarify the meanings of funding, batches, transactions, authorizations, and statements within the context of the Merchant Dashboard Merchant Dashboard.
Table of Contents
Funding
Funding refers to the process of transferring money into your Merchant Dashboard account to cover transactions.
Importance: Proper funding ensures that your account has sufficient funds to process transactions seamlessly. Funding is initiated through various methods supported by Merchant Dashboard.
Batches
Batches are groups of transactions processed together for efficiency and organization.
Importance: Batching transactions allows for easier tracking and reconciliation of financial activities. The dashboard enables you to view and manage batches based on specific criteria or timeframes.
Transactions
Transactions represent individual financial activities, such as sales, purchases, payments, or refunds.
Importance: Understanding transactions helps you monitor and analyze the flow of funds within your SchoolCash account. The dashboard provides detailed transaction histories and summaries for accurate record-keeping.
Authorizations
Authorizations are approvals or permissions granted for transactions to proceed.
Importance: Authorizations ensure that transactions meet specific criteria and have the necessary permissions to be processed. The dashboard displays authorization statuses and details for each transaction.
Disputes
Disputes and chargebacks occur when a cardholder challenges a transaction, typically due to unauthorized charges, billing errors, or dissatisfaction with goods or services. In the context of Merchant Dashboard, disputes or chargebacks may arise for various reasons, such as discrepancies in transaction records, billing inaccuracies, or misunderstandings between the school and the cardholder.
Statements
Statements are documents summarizing financial activities within a specific period.
Important: Statements provide comprehensive overviews of financial transactions, balances, and other relevant information. The dashboard generates statements for easy review and analysis of your Merchant Dashboard account’s financial performance.
Conclusion
Understanding these financial terms is essential for effectively navigating your Merchant Dashboard. By familiarizing yourself with funding, batches, transactions, authorizations, and statements, you navigate the dashboard confidently and make informed decisions for your school’s finances.