The Virtual terminal is a payment solution that handles making miscellaneous transactions not associated with event enrolment. However it can be used to make partial payments toward an event’s registration costs.
The main roles of the virtual terminal payment processing software is
- to process miscellaneous payments to new and existing registrant
- to set up a set of recurring payments
- to make partial payments towards existing pending or deferred payments and
- to allow you to set up payment plans.
Within the virtual terminal you have a series of options and input fields including Reference Number, Frequency, charge amount, customer name, customer email, the company(if applicable), the event(if applicable), a description of the transaction, the GL number to log the transaction to and the payment method.
Starting with Reference Number. You have two options, if you are servicing an existing customer you can append the transaction to the existing reference number by inputting that reference number. The other option is to create a new transaction with a unique reference number
Next you select the payment frequency, one-time payment, Monthly recurring payment (credit card only), or a payment plan. One-time payment is exactly how it sounds where there is one-transaction between you and the customer. This can be used for anything from a selling camp shirts to a miscellaneous charge.
A Monthly recurring payment, creates a monthly credit card series of payments, ideal for memberships or subscriptions. Once this is initiated, a future next payment will appear in Tasks; Deferred Payments. Each month the charge needs to be run manually but is conveniently queued up, so that it is just the click of a button to process. After a recurring payment runs, the next payment will appear queued up for next month. To stop a recurring payment, the line in the Deferred Payment Page needs to be deleted after the last payment.
Payment Plan is a planned (scheduled) series of payments. When you select this type in frequency, the payment plan editor will appear. To set up a payment plan follow these steps:
- Enter the Total Amount, Deposit Amount and Number of Payments
- Click on the ‘Show Plan’ button
- According to what you’ve entered, the payment plan will get calculated and be displayed to the right.
- The Date and amount of each payment can be adjusted. Note: The total of each payment + deposit must equal the Total amount you initially input.
The deposit amount will be processed on the submission of the transaction. The planned payment will appear in the Tasks; Deferred Payments. When the time comes, the cashier needs to process the payment there just like Monthly Recurring Payments.
If a customer is paying toward a pending or deferred payment you can input the reference number into the virtual terminal and it will automatically be listed in the charge Amount section. You then can input a partial or the full amount into the box.
For the charge amount (One-time payment and Monthly Recurring Payment) through Company plus Description just input the customers information and transaction details. In the GL Number box input the GL Number that you have associated with the event that the transaction is taking place for.
To add a payment to a registrant already enrolled in an event, use the Event section dropdown menu and select the event the customer wishes to make a payment too.
In payment method, you select the tender type being used to make the payment. The virtual terminal allows point of sale transactions from credit/debit, cash, cheque, and on-account. On account is like a bar tab where you keep track of the amount the customer owes.