Accepting credit card payments only gets more complicated when managing a multi-location dealership – even more so when each location has different departments.
Using a system that encompasses all your needs to manage the complexities of a multi-location business will minimize time spent preparing reports and give you greater oversight across your dealership. With our Virtual Terminal, you can access every department and location’s activity from anywhere, in real time, so you never miss a beat.
Track Department Sales
Instead of manually filing, tallying and storing paper receipts, use a Virtual Terminal to automate this process. Whether all sales go through a central cashier or each department has its own terminal, a Virtual Terminal files each department’s transactions, receipts and batches separately, and stores them digitally in one central location for easy, future reference.
How does it work? When you run a transaction, simply select the corresponding department and the transaction is automatically filed under that department’s sales.
Streamline Deposit Reconciliation
Whether accounting is done at a central location or each location has its own set of books, a sophisticated Virtual Terminal can simplify the job. Instead of printing out batch reports at the end of the day, a Virtual Terminal produces these in real time, settled or unsettled. A plus? The system automatically totals multiple batches, allowing you to stop tallying batches manually before you reconcile your bank deposits.
Oftentimes, there is a discrepancy between what you expected from the batch total versus what you actually deposit. Top-of-the-line Virtual Terminals offer detailed deposit reports to remove the guesswork. Typically, you cannot address the discrepancy seen between the batch total and deposit total until the merchant statement is available at the end of the month or later, pushing the task of reconciling the bank account into the next month.
Deposit reports allow you to verify funds daily by providing the deposit total along with the fees charged, any chargebacks that occurred and other fees, such as Amex. All you need to do is compare the already totaled batch report to your deposit report and that’s it! You’ve reconciled your bank account.
Control User Access
It’s difficult to track staff accountability across multiple locations and departments. And with old-school terminals, there is simply no way to track who is doing what, which can be a problem when faced with a major accounting issue. Eliminate speculation with a Virtual Terminal and let it be your eyes and ears on the floor.
You can grant all permissions to admins while restricting users from issuing refunds or looking through transactions or reports. The Virtual Terminal logs all user activity and associated actions taken, so you can get a quick glance of your sales team's performance in any time period. Finally, you can restrict user access to a given department or location to avoid transaction errors.
Generate Beautiful Reports
Tracking sales performance manually wastes time and is prone to human error. Using an old-school terminal requires staff to manually tally batch reports for approximately 30 days of sales just to produce one month’s total, and that's for just one terminal. If you need a quarterly report, you have to do totals per terminal and then per department for three consecutive months.
A Virtual Terminal runs reports automatically for insights into a department or location’s performance across custom time periods. It also allows you to compare the relative performance of locations and departments, as well as past versus current quarters or years.
With a Virtual Terminal, you can confidently manage multiple locations and departments with ease. So what are you waiting for?
Picturing the change our Virtual Terminal would make? Tell us below how you think it would benefit your business!