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.
For example, if your average ticket runs at $50, a credit card transaction fee with a rate of 2.3% can be $1.45. However, an ACH billing transaction can be a flat $0.55. For a $100 transaction, the difference is $2.60 vs. $0.55. Over a year with, say, 1,000 transactions thatâs a difference of $2600 vs. $550.