MerchantConnect, a web-based real-time reporting service, provides the streamlined, and secure reporting
you need. You can quickly and easily access payment information, while protecting cardholder and
account data. MerchantConnect brings together all the information necessary to better manage electronic
payment processing activity.
Information That’s Right on the Money
No matter what your practice or how sophisticated your accounting infrastructure is, chances are you could
manage your payment activity more efficiently and effectively. Whether you are looking for a convenient
online tool for a single location, powerful reporting across your whole enterprise, or a fully customized
payment analysis, MerchantConnect provides information that is right on the money.
For a physician or facility with specific reporting requirements, MerchantConnect offers fully customized
solutions. You receive in-depth analysis of virtually any information that you might need; produced for any
time period, in any format. Data can be summarized or detailed through a variety of hierarchies – from
chain, to region, to store and to individual batch. Integration with enterprise systems eases overall accounting
functions. Order the data you need to analyze qualified/ unqualified interchange transactions, as well as chart
the impact of downgrades on your bottom line.
Online Case Management (OCM)
OCM solution allows you to easily receive, view, respond to and manage all your chargeback and retrieval
activity through our online MerchantConnect Premium reporting
Additional Reporting and Reconciliation tools
Merchant Connect Settlement Reconciliation Service (SRS)
MerchantConnect SRS provides a timely, easy-to-understand breakdown of credit and debit transaction
activity that was settled by Elavon and reported to the IRS. Merchants will now be able to access information
related to Settlement Reconciliation, including:
- Tax ID Number (TIN) Validation: Check to ensure Elavon has your correct TIN and Legal
Business Name on file to avoid IRS-mandated backup withholding. If your information does
not match, you will be directed to securely submit a Form W-9 Online.
- Processing Volume: Easy access to processing amounts are updated monthly to provide
reports on your settlement activity, chargebacks, and other expenses related to your card
- Simple and Clear Reporting: Reports are easy to understand and roll up monthly,
quarterly, and annually for up to 4 years.
- Electronic 1099K: Sign up to receive your Form 1099K electronically to avoid postal
Benefits of SRS
Assists in reporting requirements: Reconciliation documentation provides reports on merchant transactions,
less chargebacks and other costs and credits that can be applied to reduce reported gross card volume and
determine net electronic card income settled through Elavon.
Saves time and labor. The SRS simplifies the reconciliation process for merchants and their
bookkeepers, accountants, and tax advisors by providing itemized merchant account details that
can reduce the effort associated with state or federal tax preparation.
Comprehensive record keeping: Merchant reports roll-up monthly, quarterly and annually for up
to 4 years from the time of initial reporting, plus they are available 24/7 via our secure, online account access
Information Regarding SRS and Tax Preparation
Merchants will receive a 1099K from each entity that performs a settlement function, including Elavon. The
information we report on the 1099K and in the SRS tool only pertains to activity processed through Elavon as
the settlement entity.
The 1099K will only provide gross volume at the TIN level; therefore, in order to calculate the
net figure, they need information on any related returns and allowances to deduct.
Merchants can log in and obtain not only the gross volume settled, but also the details on related fees and
chargebacks — all at the TIN level. This eliminates the need for them to manually gather this information from
statements across all MIDs for 12 months of processing activity.