Revenue and Gross Profit First, consider the meaning behind the revenue and gross profit numbers on your income statement. Revenue equals all the income generated by sales of products or services during a period. It includes both cash purchases and purchases on account if you use the accrual accounting system and record revenue when it is earned.
With the introduction of taking EMV transactions on the devices themselves, there will NOT be any Test Mode available on our Clover Mobile and Clover Mini devices. If you would like to run a test transaction the devices, please run a small (i.e. $1.00) transaction within Sale app and refund the amount right afterwards.
1 In 2014 the average interchange fee per covered transaction was slightly lower for transactions processed over dual-message networks (which are mostly signature-authenticated) compared to those processed over single-message networks (which are mostly PIN-authenticated): $0.23 and $0.24 respectively. For transactions processed over single-message networks the average interchange fee per exempt transaction has been steadily declining since Regulation II took effect, and in 2014 was only slightly higher than that for covered transactions ($0.26 vs. $0.24).