Helcim introduces Gross Deposits to simplify merchant funding and financial management

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Sep 18, 2024, 10:00 ET

CALGARY, AB, Sept. 18, 2024 /PRNewswire/ - Helcim has introduced its new gross deposit funding system, designed to provide merchants with a more transparent and streamlined approach to managing their funds. Unlike the traditional net deposit method, where fees are subtracted before deposits are made, gross deposits allow merchants to receive their full sales amounts directly into their bank accounts, with fees deducted separately on the same day.

This update is a direct response to merchant feedback, aimed at improving the financial experience by simplifying reconciliation and maintaining accurate records. Merchants now benefit from clear, easy-to-track financial data without the hassle of mixed entries or untrackable deductions.

With gross deposits, merchants can now see their full earnings upfront, making it easier to reconcile sales and expenses. They can now know exactly what is being deposited each day, allowing for better financial planning.

The system is particularly beneficial for small and medium-sized businesses that prioritize clear financial reporting and predictable funding.

"We built gross deposits to give our merchants more control and transparency, helping them manage their finances more effectively," said Nic Beique, CEO at Helcim. "This feature addresses key pain points, making Helcim more attractive for businesses looking to switch payment platforms while retaining their existing accounting processes."

For more information on Helcim and how they can benefit your business, visit this link.

About Helcim

Helcim is on a mission to be the world's most loved payments company by giving small businesses every possible edge to thrive and enrich our communities. The company delivers an easier, smarter, and more affordable payment experience with a human touch. Helcim serves thousands of businesses in Canada and the US across 800 different industries, processing billions in payments each year.

Visit www.helcim.com for more details.

SOURCE Helcim