Fund disbursement

[HOBADEV]

As a new user for Click and Pledge, we are trying to figure out the best way to keep track of donations in Quickbooks Online. Our previous payment system would issue a monthly disbursement into our account. It looks like with C&P funds are transferred at the end of every business day - do you know if it's possible to change that to be monthly or weekly disbursements? Or if anyone has any suggestions for adding these so that it's not a hassle for our finance team?

Thank you for your help!

[CnP.Support]

Good day HOBADEV

Companies that deposit money in your account once a month or any other cycle are, in all instances that we have seen, aggregators. What this means is the money is paid to the company and in general it is the company's name that appears on the credit card statement, e.g. Network for Good, Kimbia, etc. In such scenarios the donor donates to these organizations and then they in return send you the money in fixed intervals. For example some of these organizations pay out on a monthly basis as long as the money has been received by the 15th of the month, else it will be paid the month after which keeps the donation out of your account for over 2 months.

Click & Pledge's system is a merchant account and we never touch the money and direct deposit it straight from the gateway to your bank account. Every night, at 12 midnight, the batches are submitted to the processors for settlement and next day sent to your bank for deposit. The money appears in your bank account in 48 hours. This is always a good process given you will earn interest and benefit from the donations immediately rather than waiting for 2 months.

Currently we cannot change the deposit cycle as we do not have any mechanism to hold your money given we do not have access to the money and all payments are made directly to your account. This is why your name appears on the credit card and all contacts on the transactions point to you, minimizing chargebacks, disputes, etc.

I hope I have answered your question. Please let us know if we can be of any further assistance.

[NobelityProject]

Is there a batch deposit minimum? If someone donates only a dollar through our payment page, and with the fees, it ends up being that we owe click and pledge about a dollar, how is this resolved? Will any amount that surpasses the fees taken out be deposited into our account, or is there a minimum amount it has to hit?

[CnP.Support.AM]

Good day @NobelityProject

I have forward this to our accounts department and they will get back to you shortly with the details.

[NobelityProject]

CnP.Support.AM Any update on this?

[CnP.Support.AM]

Sorry for the delay. I have sent a reminder and they will in touch with you Today.

[NobelityProject]

Thanks so much! It seems that once enough money comes in to exceed the fees, it'll get rolled into the next batch deposit!