OVERCOMING COMMON NO'S

I want to Auto-Settle

$ $ $ ON THE NET can be configured to enable merchants to auto-settle. However, this is NOT recommended. Shift4's $ $ $ ON THE NET auditing functionality is the first line of defense against problem transactions. It empowers users to take control of their payment transactions by allowing a company wide audit to be conducted prior to deposit. Compared to traditional methods of transaction management, this proactive approach yields significant financial and operational benefits. However, merchants may be so accustomed to doing it "the old way" that they do not fully appreciate the value of the pre-settlement audit process.

Merchants employing the traditional reconciliation mode of transaction accounting (i.e. auto-settling), typically put off batch balancing and verification until their monthly bank statements arrive. This practice tends to put merchants in a reactive, defensive position, requiring them to correct errors that were made weeks or even months earlier. If errors are discovered after settlement, merchants may pay discount rates for a transaction for which they will ultimately not receive funding. Erroneous transactions also cause customer service issues and increase labor costs from retrieval requests.