Payment Processing - Glossary of Terms

Below is a glossary of terms related to payment processing through Accrisoft Freedom.
This includes terms related to Transaction Types, Origins and Response Codes from the Gateway.

Transaction Types  
Charge Electronic transaction 
Refund Refund given to customer
payment Cash or Check was hand given in-person
credit A credit was given to a member's account
Origins  
Gateway Manually run payments for outstanding Invoices from the payments module by pressing the green Add a Payment button
Recurring Payment created by the Recurring tab in the Finance - Commerce Module
Admin Payment created by Accrisoft automated Installments Module
Website Payments that came from Courses
Forms Someone made a payment through the front end of the website, using a form
My Account A member logged into the member portal and paid an outstanding invoice

Response Codes

 
1 - ACH Accepted ACH Bank Transactions
1 - APPROVAL  Credit Card Transactions
1 - NO REASN TO DECL  "No reason to decline"

Applicable to $0 verification requests and may also be returned when issuing refunds.

Some credit cards respond this way. Should be treated as an approval.

- ACH_ROUTING and ACH_ACCOUNT required Missing an bank account info OR the invoice was set to charge a "person", and not the "Unit"
0 - Insufficient Funds: R01  

ACH Bank responded with "Insufficient Funds" for the transaction amount

0 - Account Previously Rejected: R03 ACH Processor Response: account number or routing number entered does not match the customer name
0 - Account Previously Rejected: R04

ACH Bank account or routing number entered isn’t correct

R12 An ACH return code R12 indicates the bank was sold to another DFI a.k.a. Depository Financial Institution
0 - DECLINED Declined by Credit Card Processor. Only customer's bank can confirm the specific reason. Most common reason for declines are: Incorrect credit card number or expiration date
0 - SERV NOT ALLOWED Merchant may not be set up for a specific card type OR customer's credit card company does not allow them to purchase products from your business type
0 - TRAN NOT ALLOWED Rejection by the credit card provider, usually based on settings created by cardholder. Example: "John Smith set his credit card to decline all international transactions"
E - INV ACCT NUM Account number is not valid - contact cardholder to confirm information

For a list of additional response codes, here is an article from Cardconnect:
https://www.cardconnect.com/launchpointe/running-a-business/credit-card-response-codes/