Processing Payments in MarketTime

If you are a manufacturer using mtCharge or have a supported credit card payment gateway and has Manufacturer Plus, Premium or Elite, this guide is for you.

Once MarketTime has retrieved the necessary information to set up your company with mtCharge or your payment gateway in our system, it will be available to you. If you have not sent us that necessary information and are reading this guide, please reach out to sales@markettime.com so we can get your company set up.

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TABLE OF CONTENTS

Managing Payment Terms to Enable Payment Processing

Removing Payment Terms

Adding Payment Terms

Ensuring Sales Agencies have set Payment Terms

Processing Payments on MarketTime Orders

Pre-authorizing Cards on MarketTime Orders

Processing Payments on MarketTime Orders with Net Terms via mtCharge

Processing ACH/Bank Transfer Payments on MarketTime orders using mtCharge

mtCharge Reconciliation Report

Processing Ad-hoc (standalone) Payments using mtCharge

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Managing Payment Terms to Payment Processing

 

To be sure you're offering the most efficient path for your Sales Agencies and Retailers to support your use of mtCharge and Payment Processing within MarketTime, it all starts with keeping your accepted Payment Terms up to date.

Begin by navigating to the Manage Company screen, and to the Order Settings tab:

 
On the left side, you can add/remove Payment Terms as needed.

Payment Terms available for payment processing in MarketTime are as follows:

Terms using Credit Cards	Terms using ACH/Bank Transfers
Credit Card	ACH/Bank Transfer **
Net 30-mtCharge with CC *	Net 30-mtCharge with ACH **
Net 45-mtCharge with CC *	Net 45-mtCharge with ACH **
Net 60-mtCharge with ACH *	Net 60-mtCharge with ACH **
Net 90-mtCharge with CC *	Net 90-mtCharge with ACH **
Net 120-mtCharge with CC *

*Only available using mtCharge

**Enabled by request, please contact mtcharge@markettime.com for more information.

NOTE: If using a third-party payment gateway, accepted credit card types may differ, please consult your payment gateway as needed.

 

Removing Payment Terms

Removing terms you don't intend to offer can be done using the "trashcan" icon next to the Payment Term you wish to remove:

Adding Payment Terms

 

To add terms that aren't automatically enabled or re-add terms you may have mistakenly removed, use the drop-down at the bottom, select the desired term, and click the "plus" button to add it:

Ensuring Sales Agencies have set Payment Terms

 

If you're not actively managing your data or your Sales Agencies are using their own "copies" of your data to manage on their own, you'll need to instruct them to update the available Payment Terms to those you intend to accept using our dedicated support article. This can be sent to your Sales Agencies to ensure they're using the appropriate Payment Terms based on what you'll be offering.

 

Processing Payments on MarketTime Orders

 

 

To begin processing payments log into MarketTime and navigate to the Orders screen.

 

Click the Action Icon to the right of the desired order and choose Shipment Transaction:

 

Here you can fill out the following fields according to your needs:

1. Invoice No. - If desired, an Invoice Number can be provided for this charge.

2. Shipping Method - If needed, the Shipping Method for this charge can be manually updated.

3. Tracking No. - If desired, a Tracking Number can be provided for the Salesperson/Retailer.

4. Tracking Link - If desired, a link for tracking can be provided for the Salesperson/Retailer.

5. Ship Date - If needed, the Ship Date for this charge can be altered.

6. Order Amount - This amount represents the dollar amount of the whole order total that is being shipped (not including Shipping/Handling).

7. Shipping Charges - If additional Shipping charges apply, an amount may be added here.

8. Handling Charges - If additional Handling charges apply, an amount may be added here.

9. Miscellaneous Charges - If additional miscellaneous charges apply, an amount may be added here.

10. Notes - Any relevant notes to this charge may be added here.

 

Once you've filled out the desired fields, you may click Process Payment to proceed.

 

In the resulting pop-up, review the total amount for accuracy, and click Proceed if the amount is correct.

NOTE: This will reflect the total of the Order Amount, Shipping Charges, Handling Charges, and Miscellaneous Charges fields.

You will receive a success screen once the payment is successful. 

All relevant transaction information will appear in the window:

 

 

Pre-authorizing Cards on MarketTime Orders

While this feature is available for mtCharge, it is not currently offered if using Net Terms with mtCharge.

You must be already using MarketTime to process payments to pre-authorize cards. For more information, please contact Sales at sales@markettime.com 

 

This same process can be followed to pre-authorize cards for amounts you deem fit.

f you want the capability to pre-authorize cards but do not have the button shown below to pre-authorize, contact support by emailing support@markettime.com to enable this feature.

Using the Pre Authorize button, you can place a hold on the card for the desired amount.
NOTE: This amount is the combined total of the Order Amount, Shipping Charges, Handling Charges, and Miscellaneous Charges fields.

In the resulting window, you can choose to capture payment for your chosen amounts against previous pre-authorizations, the window will allow you to do so, or create a new charge with the corresponding option.

Pre-authorization with mtCharge expires after 7 days. 

If utilizing a third-party payment gateway, please consult them directly on length of pre-authorization charges.

 

 

Processing Payments on MarketTime orders with Net Terms via mtCharge

 

NOTE: Pre-Authorization is not available for orders with "Net Terms via mtCharge" Payment Terms selected or certain third-party Payment Gateways.

 

For orders Net Terms with mtCharge, using the Schedule Payment button will schedule the account to  have the amount chosen deducted 30, 45, 60, or 90 days after the button is pressed, depending on the term selected for the order, as seen in the Charge Date field:

 

 

Processing ACH/Bank Transfer Payments on MarketTime orders using mtCharge

For information regarding ACH/Bank Transfers, please see our dedicated article on the subject.

 

 

mtCharge Reconciliation Report

 

Found on the Advanced Analytics screen, you can access a reconciliation report for payments processed via mtCharge.

NOTE: Your available reports may not look exactly as below.

This report displays as 10. mtCharge Orders.

 

This report allows you to reconcile charges from your bank account against payments processed via mtCharge.

The Refund button also allows you to process a refund for the desired transactions.

 

 

Processing Ad-hoc (standalone) Payments using mtCharge

 

Those utilizing mtCharge as their payment processor within MarketTime may also process ad-hoc or standalone payments.

NOTE: At this time, mtCharge only allows ad-hoc charges on credit cards.

Using the Payments screen, click the New button to begin an ad-hoc charge.

 

 

Amount (1) - The amount you wish to charge the credit card.

Customer First/Last Name (2) - The First and Last name of the card holder.

Customer Email ID (3) - The email address to be associated with the transaction.

Description (4) - The description of the transaction.

Statement Descriptor(5) - The note that will appear on the customer's bank statement for this transaction.

Card Information (6) - The credit card you wish to charge.

 

Clicking on Process Payment will immediately attempt to process payment and the status of the payment will be displayed on the Payments screen.