Say Hello to Your New Monthly Statement!
At Clearent, our goal is to help you succeed and be more profitable. That’s why we’re excited to unveil our new and improved monthly statements!
We’ve always been firm believers in honesty and transparency, and our new statements are easier to read than ever before. Everything you need to know about your costs associated with payment processing is clearly outlined and takes the guesswork out of managing payments.
Read on to learn more about new sections that have been added to your statement and how to pull past statements in Merchant Home. You can also check out our video walk-through.
At the top of your statement you will find an at-a-glance breakdown of your total processing volume and costs for that billing cycle.
- Disputes: Chargebacks
- Adjustments: Refunds or charges made outside of normal billing
- Withholding: Risk-based funds holding, usually flagged for potentially fraudulent transactions, IRS liens, etc.
- Amounts Already Collected: Unless you were subject to disputes, adjustments, or withholding, this section will only be populated if you are on daily discount
The Bank Activity section is a simple way to balance your credit card processing volume with your bank account. The amounts deposited or withdrawn are listed by the funded date. If you are on daily discount, you can also clearly see where interchange and discount fees are deducted from each deposit.
Because Clearent places such a premium on transparency, the Fee Description section is extremely straight-forward. The rates shown here reflect the pricing in your signed Merchant Agreement and you will also clearly see all monthly fees that are not part of daily discount.
Accessing Your Statement in Compass
To access your statement through the Compass Online Reporting Tool, please follow these steps.
- Log in to Merchant Home.
- Select “Statements and Tax Forms”.
- To view one or more statement(s), check the box for each statement to view and then click “Download Selected”.
- To view all available statements, choose “Download All”.