If you are a Manufacturer using mtCharge or another supported credit card payment gateway and have Manufacturer Plus, Premium, or Elite, this guide is for you.
You will be able to process payments in MarketTime, once all setup documents have been received. If you have not provided the needed documentation and are reading this guide, please email the Support Team at support@markettime.com so we can assist you in the process.
Managing Payment Terms to Enable Payment Processing
To ensure you're offering the most efficient path for taking and processing payments in MarketTime, you must keep your accepted payment terms up-to-date. This will help your Sales Agencies know which options are acceptable to your company.
Begin by navigating to the Manage Company screen (in the left-hand navigation), and then on the Order Settings tab:
On the left side, you can add/remove Payment Terms as needed.
NOTE: The payment terms available for use may vary depending on whether you are using mtCharge or a third-party payment gateway.
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 the correct Payment Terms for Your Company
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 your company's Payment Terms to only those you intend to accept. mtCharge Users - for more information on this process, including a templated email you can use, refer to your mtCharge Welcome email.
Requesting A New Payment Method (Card declined, etc.)
NOTE: Requesting a new Payment Method is a feature exclusive to mtCharge.
In cases where you've received an order with a credit card that you've attempted to process but declined, or the customer has called and requested that another card be used on an order, the Request Payment feature can be used.
For more information, see the Support Article, HERE
Processing Payments on MarketTime Orders
NOTE: When utilizing mtCharge to process payments, the total of a charge may not exceed 100% of the Order Total. Any additional fees (such as Shipping, Handling, or others) must be added in the corresponding fields.
To begin processing payments, log into MarketTime and navigate to the Orders screen.
For MTCHARGE: Click the Credit Card or Bank (ACH) Icon to the right of the desired order:
For 3RD PARTY PAYMENT GATEWAY: Click on the blue arrow to the right of the desired order and choose Shipment Transaction:
Both actions will take you here where 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
You can pre-authorize cards using the same process shown above. Note that pre-authorizations are not available when using a Net XX-mtCharge with CC term.
If 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.
When using the Pre Authorize button, you can place a hold on the card for the desired amount. This amount will be the combined total of the Order Amount, Shipping Charges, Handling Charges, and Miscellaneous Charges fields.
mtCharge Users - Once you click the Pre Authorize button the following window will appear. Here you can choose to capture payment for a previous pre-authorization or create a new one.
NOTE: This window only appears for those using mtCharge. Pre-authorization for third-party gateways will only allow the entry of a value for pre-authorization and won't include the ability to turn that pre-auth into a charge; an additional charge must be made to process payment.
Pre-authorizations with mtCharge expire after 7 days.
If you are using a third-party payment gateway, please consult them directly regarding the length of time a pre-authorization will be active.
Processing Payments on MarketTime orders with Net Terms via mtCharge
For Net Terms with mtCharge orders, use the Schedule Payment button to have the amount chosen deducted 30, 45, 60, or 90 days after the button is pressed. The date entered into the Charge Date field should correspond with the Payment Term field / what is shown on the order.
Utilizing "Future Date" Net Terms via mtCharge
If you've enabled the "Future-Dating" payment terms for your orders, rather than the set 30, 45, etc. dates for processing, you may choose any future date as the Charge Date for the transaction. Note, that for this feature to be used, you must choose a future date. You cannot select the current date.
Scheduled charges will appear at the bottom of the window as SCHEDULED until they are processed.
Processing ACH/Bank Transfer Payments on MarketTime orders using mtCharge
For information regarding ACH/Bank Transfers, please see the article HERE.
mtCharge Reconciliation Report
You can access a reconciliation report, to reconcile charges from your bank account against payments processed via mtCharge, in the Reporting Center of your MarketTime account. This report can be found by navigating to the Advanced Analytics screen in the left-hand navigation and selecting Report #10 mtCharge Orders, and then selecting the middle tab at the top of the screen mtCharge Charges and Refunds
NOTE: The available reports in your dashboard may look different than the image above
Refunds
Refunds may be processed for each relevant mtCharge transaction through the 10. mtCharge Orders Report. See our dedicated article HERE for more information on processing refunds.
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.
How mtCharge Transactions Flow Into Your Bank Account
Once a payment has been successfully processed in the MarketTime system, it will be batched with any other successful transactions from the day and then deposited to your linked bank account in a single daily payout.
Payouts can be viewed in the same #10 mtCharge Orders Report used for processing refunds or doing a reconciliation but under the mtCharge Payouts tab. Navigate to the Advanced Analytics screen in the left-hand navigation and select Report #10 mtCharge Orders, then click on the left tab at the top of the screen mtCharge Payouts
Once the report has loaded, you can search by date and filter the report as needed. Each row shows a separate transaction payout and includes P.O. number, Customer name, charges, system the order was placed through (BW, MT, AdHoc), etc.
Adding up all payout rows for the day minus the associated fees should equal the amount deposited into your account.