All Collections
Payments
CardConnect
How credit card deposits work
How credit card deposits work

Viewing credit card transactions in Open Tender and reconciling deposits

JC Harrington avatar
Written by JC Harrington
Updated over a week ago

Open Tender is not a payments company.

We allow you to establish a direct relationship with the payment processor of your choice, which allows you to receive credit card deposits directly into your bank account on a daily basis.

This is very different than other online ordering services that first collect the funds, hold onto them for some period of time (say 30-45 days), and then deposit them into your bank account in one big deposit. The daily deposit approach allows you to receive the funds almost immediately, which makes it easier to manage your cash flow.

How to reconcile your credit card deposits

In order to allow you to reconcile your Open Tender transactions to your credit card deposits, go to Reporting > Credit Card Batches and select the relevant time period you're looking for. This will display all of the credit card batches for that time period and calculate totals in the row at the top of the report.

Beware of settlement delays

Certain individual transactions may not settle on the regular schedule and therefore won't be included with your batch as planned. This will cause the batch difference between what is displayed in Open Tender and what you're seeing in your credit card processor account.

Did this answer your question?