We are not able to get the calculation of total amount submitted and transferred for card processing statement for each day card transactions listed in monthly statements .Can you please help me in this?
Are you a Clover merchant? Are you using a specific app? This forum is for developers that build apps on our platform to get development assistance. If you are a Clover merchant you should contact Clover support/ Customer Service for assistance to take a look at your deposits and map to your fees. Although all of this should be on your statements in your dashboard
I am a developer, our app is published and is on app market, as for our few users there is a requirement to display merchant deposits on our sales reporting so we want to have clarity of amount submitted calculation for a card transaction to relate it from orders paid by card on clover
Have you taken a look at our funding apis: https://docs.clover.com/docs/funding
Yes I have already taken a look on funding deposit API for our few merchants response but the calculation part is not much clear as in Funding API reference the amount submitted field is not properly briefed, so we are unable to relate the API response with how orders paid by cards gross sales and fees parts are being addressed in total amount submitted and fees fields of Funding-Deposit API.
The calculation of the amount submitted for card transactions on a monthly processing statement involves several components and processes related to credit card transactions. Here's a general overview of how the amount submitted is calculated:
Gross Sales:The starting point is the total value of all sales transactions processed during the month. This includes all purchases made by customers using credit and debit cards.
Refunds and Returns:The amount of refunds and returns issued to customers is subtracted from the gross sales. This ensures that only the net sales amount, after accounting for any reversals, is considered for settlement.
Chargebacks and Disputes:If customers dispute transactions and initiate chargebacks, these amounts are deducted from the gross sales of kitchen showroom aberdeen as well. Chargebacks occur when customers dispute a transaction with their card issuer, and if the dispute is resolved in favor of the customer, the merchant is required to reimburse the disputed amount.
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