PT Billing is accomplished most frequently via auto-draft. By eliminating most opportunities for human error, auto-drafting increases the control and consistency of when a club’s invoices get paid. Though ABC provides Club OS’ users an easy-to-use billing platform, it is still important to comprehend how the drafting process can vary depending on details such as credit card type, calendar date, club location, etc. Below is a quick guide through the details of ABC’s auto-drafting process.
‘What Do I Need to Begin Auto-Drafting?’
To accept deposits beyond cash, a club must first procure their GUID (Global Unique Identifier) or Merchant ID. A GUID/Merchant ID assures that the club is correctly recognized during financial transactions. Club OS provides each club a GUID/Merchant ID application upon sign-up and requires its return before conversion is complete.
Also, to auto-draft, the package must be set up to be funded via recurring payments -drafting from either the Member’s credit card or their checking/savings account (referred to, occasionally, as 'ACH'). Once the package’s down payment is paid (typically in person), it is the package’s second invoice that will first institute an auto-draft.
‘How Long Does it Take To Receive Auto-Drafted Deposits?’
Payments made through a Member’s Visa/Mastercard/Discover Card require 48 business hours before they are able to appear within a club’s account. Payments made through either American Express or the Member’s bank account takes 72 hours.
NOTE: The deposits for a particular day will show in a lump sum, however, ABC also sends Daily Deposit Statements when funds hit their bank accounts, the Daily Deposit Statements are itemized by PT client and transaction amount.
‘How Will the Deposit Appear in the Club/Client’s Bank Account?’
Banks will display the same draft differently in the bank’s account than it will in the Member’s account.
A. The Club’s Bank Statement
Here, the account will summarize the act as:
Provided are the five sections of the summary:
Section A: ABC’s payment platform.
Section B: The identification number for the club location that is drafting the deposit.
Section C: The club to which the location belongs.
Section D: The name of the club location that is drafting the deposit.
Section E: Informs that the withdrawn deposit was for PT purposes.
Note: This summary is almost identical to a club’s received ‘membership deposit’ summary. However,
whereas the above summary’s Section E displays the deposit’s purpose, the membership summary
possesses no fifth section.
B. The Member’s Bank Statement
Here, the account will summarize the act as:
Provided are the three sections of the summary:
Section A: Stands for ‘ABC Merchant Service’.
Section B: The club to which the location belongs.
Section C: Informs that the withdrawn deposit was for PT purposes.
Note: A Member’s summary will never display the club location for which their deposit is drawn. Example:
A club could have a hundred Members attending ten locations yet each Member would receive the exact
same draft summary.
‘What Service Fees Should I Expect to See Auto-Drafted From the Club Account?’
Both Club OS and ABC will extract monthly fees from a club’s bank account.
A. Club OS
Club OS charges on the 15th of each month. For clubs that sign up only one or two locations, a Club OS subscription costs $179/month. That cost drops to $149/month when three more locations are registered.
Note: A club’s first billing cycle is determined by the date in which the club signed up for Club OS’ software.
ABC’s merchant fees draw on the 2nd of each month. (Or, if the 2nd falls on a weekend, the next business day.) Each fee deducts its percentage from the total earnings made by the club in its previous month.
Note: Merchant fees are found within the Processing Fees table of the club's Monthly Reconciliation Statement.
If your club has not been receiving Monthly Reconciliation Statements, please contact ABC's Merchant Services department at [email protected]
‘How Do I Verify That My Deposit Auto-Drafted Successfully?’
Best Practice: Three days after a draft has been set to draw, refer to the club’s bank account to verify that the transaction successfully took place.
Club OS also offers multiple reports that chronicle transactions’ outcomes. The Accrual Revenue Report shows successfully settled funds. (Note: 'Settled' is the status immediately preceding a fund's deposit.) The Unpaid Invoice Report lists failed payments. The PT Transaction Report records all attempts -regardless if they succeeded or failed.
If the settled transaction fails to deposit, contact either the club’s onboarding Account Manager or Club OS’ Customer Success Team for support.