The Transaction Report in the Billing Reports section has been revamped to provide clearer insights into monetary transactions. With several new enhancements, this report is designed to give users a deeper understanding of their financial activity.
Categorizing Transactions
One significant update is the categorization of all types of transactions. All types of transactions are now sorted into specific categories. This change is a game-changer in terms of organization and transparency. This categorization makes it significantly easier to track and understand where your money is coming from.
Here are the new Categories.
Payments - claims, cash, and check
Losses - credit card or ACH returns and chargebacks
Refund - billing refunds
Pending - claims that don’t have a transaction status update from the payment processor
Retail Payment - POS payments
Retail Refund - POS refunds
Visual Chart
Users now have the option to display their Top Summary and Transaction Summary Report in the form of visual charts.
TRANSACTION OVERVIEW
The Transaction Report now features an improved Transaction Overview at the top of the page, making it easier to quickly review key payment information at a glance. The overview provides a clear summary of Payments Collected, Total Refunds, Amount Processed, Total Transactions, Average Amount, Most Used Payment Method, and relevant loss information.
The top summary shows distinct, clearly labeled totals:
Total Payments Collected (retail + membership payments).
Total Refunds in its own field.
Total Amount Processed = payments − refunds (before fees).
Average Amount is retained.
TRANSACTION REPORT SUMMARY
This addition offers a dynamic way to comprehend your financial picture or a more intuitive analysis. The system will classify all transactions based on category.
This visual representation is particularly valuable for those who are more visually oriented or want to grasp financial insights at a glance. This is an optional view; simply click the dropdown arrow to either minimize or maximize the chart.
Just like the rest of the reports in the system, there is a button for Export to Excel.
Please check this demo video for more information.