In the Business Center, you can access valuable information regarding Gross and Net payments, which provide insights into your financial transactions.
Here's what you need to know:
Gross Payment
Gross payment represents the expected payment for the invoices assigned to you. It indicates the total payment amount before any deductions or processing fees.
Net Payment
Net payment refers to the actual payment you receive for the invoices assigned to you. It is the gross payment amount reduced by the processing fee charged by the payment processor used for your organization. The result is the net amount you receive after deductions.
For Credit Card and ACH Payments:
In the Invoice table, for invoices containing Credit Card or ACH payments, the system will display the total Gross amount of all payment types in your invoices, along with the total Net amount of all Credit Card and ACH payments.
For Offline Payments
For Offline payments, there is no processing fee involved. As a result, the Gross and Net payment for Offline payments are the same.
Detailed Information in the Payment Table
In the payment table, you can find comprehensive details about each payment, including payment type, payment status, payment date, amount, and more.
By understanding the distinction between Gross and Net payments and having access to detailed payment information, you can effectively track and manage your financial transactions within the New Business Center.