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.
In April 2016, Visa began charging a transaction fee for refund transactions involving a credit card. As noted below, a fees also applies to debit refund transactions, but this fee is slightly lower at $0.0155. In April 2016, Visa began charging a transaction fee for refund transactions involving a debit card. As noted above, a fees also applies to credit refund transactions, but this fee is slightly higher at $0.0195.