Fully Managed Billing includes several features designed to simplify payment processing, improve reconciliation, and reduce administrative work for studios. This article highlights key concepts and best practices to help you understand how Fully Managed Billing works within ClubReady.
Content
- Integrated Chargebacks and ACH Returns
- Credit Card Updater
- Bank Reconciliations and Remits
- Deposit Timing
- Legacy Gateway Considerations
- Additional Resources
Integrated Chargebacks and ACH Returns
Fully Managed Billing includes integrated processing for chargebacks and ACH returns. These transactions are automatically managed within the ClubReady billing ecosystem, helping reduce delays in reconciliation and making financial reporting more accurate.
Helpful Tip
Add your email address to the Chargeback Notifications distribution list to receive updates when disputes occur.
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Credit Card Updater
The Credit Card Updater service automatically updates eligible credit card information when participating card issuers provide updated account details.
This helps:
- Reduce payment declines
- Improve successful billing rates
- Minimize account interruptions caused by expired or replaced cards
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Easier Bank Reconciliations
Fully Managed Billing simplifies the reconciliation process by keeping payment activity, chargebacks, ACH returns, and remits within the same billing ecosystem.
When reviewing deposits and reports, it is important to understand that remittance amounts may differ from Gross Sales totals due to fees, returns, chargebacks, and other billing activity.
Helpful Tip
If your Gross Sales Report does not match your remit amount, review the Remit vs. Gross Sales article to understand the differences.
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Deposit Timing
With Fully Managed Billing, deposits follow a predefined processing and funding schedule.
Because payment processing and settlement occur before funds are deposited, the date a payment is collected may be different from the date it appears in your bank account.
Example
A payment collected on Monday may be included in a deposit received on Wednesday, depending on processing timelines and banking schedules.
Understanding your deposit schedule can help with cash flow planning and reconciliation.
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Legacy Gateway Considerations
Some studios may still have historical transactions that were processed through a previous payment gateway.
In those situations, there are a few important considerations.
Historical Chargebacks
ClubReady manages chargebacks that occur on transactions processed through Fully Managed Billing.
Chargebacks associated with transactions processed through a previous gateway may still require handling through that original payment processor.
Refunds on Historical Transactions
If a refund is needed for a transaction that was originally processed through a previous gateway, the refund may need to be handled outside of the Fully Managed Billing process.
Common options include:
- Credit Balance
- Written Check
- Cash
The appropriate method should follow your studio's internal policies and procedures.
Best Practices
To get the most value from Fully Managed Billing:
- Review your remit reports regularly.
- Subscribe to chargeback notifications.
- Familiarize yourself with your deposit schedule.
- Understand how chargebacks and ACH returns are processed.
- Review historical transactions carefully when issuing refunds.
- Use the available reporting resources to support reconciliation and financial management.