This solution outlines the cycle/schedule that Blackbaud uses to release/disburse transactions to Sphere clients.
Billing Cycles for Sphere transactions are the 1st-15th and 16th-end of month. Blackbaud always releases disbursements to Sphere clients seven days after the 15th and the last day of every month. As of March 1, 2013, all disbursements will be handled via direct deposit (ACH). Customers will continue to receive by mail their Transaction Detail Report twice a month to confirm the amount of their direct deposit.
Processing fees (Blackbaud fee and Credit Card fee) are deducted from each online transaction and the net amount is the amount disbursed.
Note: After the disbursement cycle ends, the fees will populate on the relating reports in Sphere.