There is a lot of data in your merchant statement, so we've provided answers to many of your questions along with a video tutorial containing a more detailed explanation of fees and charges that appear on your statement. You can also check out some additional resources below.
Do you have questions about how and when you are charged fees? Read more about daily and monthly fees to get help adding up all your fees for a given month.
For an easy way to explain rates to customers, see What are my Daily and Monthly fees?
Most of our merchants are charged the minimum transaction discount fees on a daily basis known as daily settlement. There are then adjustments, due to updated processing rates, made at the end of the month along with any additional service fees.
However, merchants that meet certain criteria (e.g. been with us at least three months, etc.) are eligible to receive a monthly settlement total fee instead. Depending on this settlement type, the monthly statement will read differently.
Daily Settlement type merchant accounts
Monthly Settlement type merchant accounts
The top section of the page is the same on every page of every statement. It has the customer's account number followed by the legal name and address. The DBA name and location address are listed on the right side of the page.
Total Debited to Your Account indicates the total charge deducted from your bank account for the Month Ending date listed at the top of the statement page.
Summary of Card Deposits broken down by Card Types, this indicates transactions that were processed for the month, how many of each type, and the total dollar amount for each type. It also indicates if there are any returns or adjustments, and gives the net dollar amount. using the following formula:
SALES CASH ADJUSTMENTS (total sales for that card type) - RETURNS EXCL ADJ PAYMENTS (total refunds, returns, etc.. for that card type) = NET
Mastercard Credit Card
Summary of Card Fees explains how the discount rates, authorizations, and address verification service fees are calculated.
Summary of Miscellaneous Fees includes the Total Card Fees plus the Monthly Fee (if any) to calculate the Total Charges for the month.
NOTE: The Less Discount Paid value plus the Total Card Fees equals the overall monthly total of card fees for the account.
Summary of Monetary Batches lists all closed batches by date. The GROSS total minus any returns or credits (R&C) which gives the NET total of the batch. This is the amount which is then deposited within the funding time a few days later.
Summary of Daily Deposits shows all the debits and credits to your merchant account, throughout the month, for the transactions processed.
The statement below is an example of a merchant who obtained their own AMEX account (not boarded through Intuit) which was integrated with our merchant service. For these types of AMEX accounts, AMEX will deposit the funds to the merchant for those transactions. In this case, there are no fees displayed for discount rates, however there are still charges for authorizations and address verification.
Red = Cards funded by the card issuer; Blue = Bankcards ; Green = All card types together
$0.07 Non-Qual Fee - Additional verification is needed for all Non-Qual transactions and there is a $0.07 fee for this process.
$0.29 transaction Fee - Transaction fee (separate from an authorization) will apply to all Travel and Entertainment Cards. This includes but is not limited to: P-Cards, Corporate Cards, and Travel Cards. This fee will appear as AVS CPU on credit card statements.
Assisted Serv - For a Voice Authorization with an operator there is a fee calculated at 1.750
POS WATS and POS AUTH - Authorization charges. POS stands for Point of Sale. A POS-WATS fee occurs when a terminal dials out to a toll free number and POS-AUTH is when a terminal dials out using a system of many lines. For example, a split connection where the terminal shares with a fax or phone line.