What is DC settlement?
A DC Settlement is the Debit/Credit settlement . Here’s how a signature (not PIN-based) debit or credit card transaction actually works under the covers; it’s a two step process: Step 1: You (or the merchant) swipes the card in a card reader. The card reader connects to the acquirer; this is the credit card processing company.
How long does a DC settlement take?
A DC Settlement is the Debit/Credit settlement. This is not something that typically happens in real time; instead, what happens is it takes one to two business days. This can leave you in the weird situation where you have $500 in your account, spend $50 at a merchant, there’s a $50 hold on the funds in the account.
Where is the DR on a bank statement?
The letter DR (should really be dr.) indicate a debit entry, and should be shown in figures on the left hand coloumn of your accounting sheet, whether that be balance sheet, profit & Loss account of bank statement.
What does the acquirer do?
The acquirer verifies the account is valid. The acquirer verifies there are sufficient funds in the account to cover the transaction; it does this by issuing a “hold” on the funds amount. The funds amount in the hold is deducted from your account or card limit, but not yet transferr. Continue Reading.
Is it hard to answer definitively without additional context?
Unfortunately without additional context it will be hard to answer definitively.
Where to file an abatement?
Pay the bill, and file and application for abatement with the Assessors Excise Office
What is a C-19 form?
Insurance Company Settlement Letter AND C-19 form (Affidavit of Lost or Stolen Plate) from the Registry of Motor Vehicles OR
What is excise in Massachusetts?
Chapter 60 A of the Massachusetts General Laws imposes an excise for the privilege of registering a motor vehicle or a trailer in the Commonwealth of Massachusetts . The excise is levied annually in lieu of a tangible personal property tax. Non-registered vehicles, however, remain subject to taxation as personal property. The excise is levied by the municipality where the vehicle is principally garaged and the revenues become part of the local community treasury. The Registry of Motor vehicles prepares the data for excise bills according to the information on the motor vehicle registration and sends it to the Assessors. The Assessors then prepare bills based on the Registry's data in conformity with Department of Revenue requirements.
When an abatement is granted, is the excise bill prorated?
When an abatement is granted, excise bills are prorated by the month, thus the owner is responsible for the excise accrued through the month in which the car was last registered to him/her.
