Merchant Account Reconciliation Challenge
Many businesses choose to have multiple merchant accounts rather than one merchant account if they have different business divisions or products. The reason behind having multiple merchant accounts is to track their sales by division and determine their ROI by department or product. Having multiple merchant accounts also helps businesses mitigate their risks by not relying on just one processor and increases their monthly processing volume to handle spikes in sales.
However, the more merchant accounts you have, the more time you have to spend in managing them. Each account has to be reconciled to ensure the deposits match with your daily settlements. If they’re not, the processor has to be contacted to fix the discrepancy.
If you’re using just a few merchant accounts, you may be able to keep up with these daily reconciliations yourself. But what do you do if you have half a dozen? The amount of work you have to do every day to reconcile your accounts can be overwhelming. If you have an internal accounts division, they must have the necessary experience to reconcile these merchant accounts, as every processor has its own billing procedure. A customized process has to be created when reconciling accounts from different processors.
How the Gurus can help?
Chargeback Gurus® has been in business for over 14+ years, helping e-Commerce businesses manage their merchant accounts and reconciliation. Our process has helped merchants keep track of their processing volume, reserve funds and daily deposits. Our reconciliation service has helped merchants manage their daily cash flow effectively.
Our Merchant Account Reconciliation service offers you the following:
- Daily reconciliation of your merchant accounts
- A daily report showing you all merchant account activity
- Investigation any time there is a discrepancy in balances. We work with your processor so you don’t have to!
- We’ll make sure you get your money on time. You won’t have to worry about being unable to pay your own bills due to your funds being tied up with the processor
- For those classified as high risk merchants, we will track your reserve funds held by the processors and ensure you get your funds released on-time
How you Benefit:
Focus on your business while we focus on your merchant accounts and cash flow
Gain access to financial experts with years of experience in the industry
Obtain real time reporting on all of your merchant accounts
Benefits of Working with the Chargeback Gurus®
We do much more than your merchant account reconciliation. We at Chargeback Gurus® are ready to assist you with a wide variety of different services.
- We will use our 360 degree risk/vulnerability assessment to determine weak points in your business processes, back office support, and website in order to improve your sales and reduce the number of chargebacks.
- We provide business consulting services that include the following:
- Help with bank account and merchant account setup
- Provide guidance on increasing your merchant processing volume
- Assist with implementation of fraud prevention software
- Evaluate processes for merchant account compliance
- Prevent online & chargeback friendly fraud
- Managing merchant account risk
- We set up chargeback prevention alerts by partnering with merchant banks
- We provide a dedicated account manager to every client to assist with managing accounts, monitoring back office support, compiling daily reports, etc.
- We will fight your chargebacks on time and provide a real-time tracker to manage your chargebacks and monitor your recovered revenue
- We will work to prevent canceled rebills and improve your customer retention via customer service and sales support
We’re Ready to Help
Having trouble reconciling your merchant accounts? Call us at (866) 999-3758 or click here to schedule an appointment with one of our merchant reconciliation experts to discuss your reconciliation challenges.