Two exciting enhancements to the DICK’S Team Sports HQ solution are set to launch: Net Processing and Weekly Disbursements!
If you are involved with financial transactions or bookkeeping within your youth sports organization, you definitely want to keep reading!
As you may remember, we recently launched DIY credit card refunds, which has been a great win for our admins. Our latest financial-focused enhancements are certain to delight as well.
What is Net Processing?
In a nutshell, this means your registration money minus the transaction fees. Prior to this enhancement, there has always been two separate transactions every other week – one depositing your registration money and the other debiting the credit card transaction fees.
Starting next week – this will be combined into one transaction on our side and then deposited directly into your account.
We believe moving to Net Processing will be a big advantage for your organization’s bookkeeper. By eliminating an extra transaction on your books, it will be much easier to reconcile your accounts. Less time reconciling, more time on the field. Excellent.
In the past, customers using our merchant account to collect credit card payments for their programs would receive disbursements on a bi-weekly schedule. Enough of that!
Now, your organization will receive a weekly distribution of funds to your account from registration money collected. This gives you more flexibility in your finances and the ability to pay unexpected organization expenses with ease.
Please note: The end of the first weekly disbursement cycle is today (12/9) at 6 PM. You will see the first weekly invoice posted on Monday (12/12) and funds will be distributed to your bank account on Tuesday (12/13). Our new weekly disbursement process will continue in this manner from this point forward.
As part of our mission, we’re always on the hunt for time-saving solutions for our partners, the unsung hero volunteer. Along with the DIY Credit Card Refunds feature, these are great examples of our partners voicing their needs and then our team building the necessary solution. Keep the recommendations coming and stay tuned for another exciting year of new feature releases coming out in 2017!