Merchant account settings can affect deposits and how you manage your money as a business. To learn more, follow the steps below.
The Allow override for money distribution at checkout setting redirects credit card transactions into the correct merchant account when checking out customers. This option is available when you have multiple employees with individual merchant accounts.
Note
Allow override for money distribution at checkout only applies to service providers and not the business owner. Any purchases made with the business owner cannot be overridden.
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Navigate to
→ → . -
Tap Employee Account.
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Toggle Allow override for money distribution at checkout on (green).
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Tap Save.
Now, when you go to the Checkout screen and check out a credit card transaction, you can select which merchant account the transaction will deposit into. You will be asked to select the merchant account while processing the credit card payment; then, you can select the Tip amount (if applicable).
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Navigate to
→ . -
Click Employee Account.
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Toggle Allow override for money distribution at checkout on (green).
Credit card transactions can now be redirected to the correct merchant account when checking out customers.
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Click Save.
Now, when you go to the Checkout screen and check out a credit card transaction, you can select which merchant account the transaction will deposit into. You will be asked to select the merchant account while processing the credit card payment; then, you can select the Tip amount (if applicable).
If your business sells products (online or in-house) and services, it may be beneficial to create a separate merchant account for retail transactions. A separate merchant account for retail sales allows you to divide retail and service transactions into two different bank accounts, create an LLC solely for retail sales, or create a clear distinction between service and retail sales. Once set up, online and in-house sales of any item purchased from your Inventory Management page will deposit into the bank account attached to your separate retail merchant account.
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Tap More and then Credit Card Processing.
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Scroll down and toggle Separate Retail/Product Merchant Accounts on (green).
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Tap Start Your Credit Card Application.
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Select your expected retail Monthly Credit Card Processing Volume. See here to learn more about credit card processing rates for small and large businesses.
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Provide all required information and then tap Submit Application.
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Once the application is processed and approved, select the merchant account that will be used for the separate retail/product account.
There's no credit check, so the approval process is instant. You'll receive an email once the merchant account is approved.
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Go to
→ . -
Scroll down and toggle Separate Retail/Product Merchant Accounts on (green).
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Click Start Your Credit Card Application.
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Select your expected retail Monthly Credit Card Processing Volume. See here to learn more about credit card processing rates for small and large businesses.
If your business already has a merchant account setup, you can set up additional merchant accounts for your employees.
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Provide all required information and then tap Submit Application.
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Once the application is processed and approved, select the merchant account that will be used for the separate retail/product account.
There's no credit check, so the approval process is instant. You'll receive an email once the merchant account is approved.
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