If you run a multi-location or multi-department business, there’s a chance you have multiple bank accounts. This can keep your finances tidy and might even be necessary. If your business has multiple locations, for instance, it might be easier to manage batches and reconcile bank accounts separately. Similarly, businesses managing multiple brands, like auto dealerships, might need to separate deposits by manufacturer. Likewise, legal firms often need multiple merchant accounts to manage client payments during trial.
Separate bank accounts might seemingly satisfy an organizational need, but doing so necessitates multiple merchant accounts. It’s a one-to-one relationship. With many providers, it can become a chore to keep tabs on all these accounts if they have separate logins. With PayJunction, controllers, accountants and business owners benefit from easy access to all their merchant accounts under one login.
Keep Tabs on Multiple Merchant Accounts
To do this in PayJunction's Virtual Terminal, go to "More and then "Accounts" from the main page. From here, you can edit basic information for each account such as contact info, batch time or security settings all in one place!
From the search page, you can search transactions by account. You can also view batch reports and deposit reports by account. These can be viewed at a high level as well as an overview of batches and deposits from multiple accounts. With a central login, all the information that you need is at your fingertips.
Restrict Access to Employees
Admin users can log in one time and gain access to all Virtual Terminal functionality for each of their merchant accounts, including but not limited to:
Employees, in contrast, can be restricted to run transactions just at their location or for their respective department — making it easy to maintain accurate bookkeeping. Employees can also be restricted to only see their transactions or those of their department or location, whatever is deemed best.
Obtain Richer Business Insights
Through the Virtual Terminal, you can look at all of your merchant accounts to see total sales in aggregate or side by side. Our reporting feature lets permitted users see sales broken up by location or department (if designated) and over time. Look back month over month, year over year or by custom date.
If your business has multiple merchant accounts, you can easily download these reports to compare sales figures for different locations, brands or departments.
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Would PayJunction’s Virtual Terminal make multiple merchant account management a bit smoother for you? What are some other challenges you’ve faced in operating a multi-location or multi-department business? We’d love to hear from you!