Finance

Are You Ready For Mastercard’s New Recurring Payment Rules?

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Earlier this fall, Mastercard issued new rules for merchants processing recurring credit card charges on its network (essentially, merchants who process recurring charges to a Mastercard-branded credit card, regardless of the issuing bank). As originally announced, these new rules would have presented extra and potentially burdensome administrative work for small nonprofits, including arts organizations, that have recurring monthly donations (though enforcement for the recurring donation case was due to begin later than for other types of recurring charges). Stripe, one of the major payment processors, has a helpful breakdown of the new … Read more

A Quick Solution To The Problem Of Missing Credit Card Receipts

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We’ve all been there, on one end of the conversation or the other: it’s the end of the month and the finance team is missing receipts for charges on company credit cards. Cardholders get a list of undocumented purchases and begin the scavenger hunt. Some are easier to find and forward to bookkeeping, such as online purchases that had an email receipt. Perhaps it was a recurring charge for some software or other subscription; that too should have either an email receipt or documentation available for download from the provider’s website. Some … Read more