Was this page helpful?
Thank you!

Comments or suggestions?



Enter Email Address (optional)
email

How are merchant account fees shown on my bank statement?

The way in which merchant account fees appear on your bank statement depends on how the fees are deducted by the merchant account processor. Fees are deducted in two ways:

  • Fees are deducted after the money is deposited.

    Most merchant account processors accumulate the fees during the statement cycle (usually a month), then deduct them from your bank account at the end of the cycle. Your monthly bank statement shows each deposit and a single fee charged at the end of the month.

    Other merchant account processors deduct fees each time a deposit is made. This is usually done when the merchant account processor deposits payments. In this case, your monthly bank statement shows a fee for each deposit (that is, two separate transactions each time).

    For fees that are deducted after the money is deposited, you must write an expense check to appropriately account for the fees in QuickBooks.

  • Fees are deducted before the money is deposited.

    The merchant account fees are not shown on your bank statement. It shows only the net deposit amount, which is the total of all your credit card payments for that day minus the total merchant account fees charged for that day.

    Deposit = total credit card payments - total merchant account fees

    The Merchant Service for QuickBooks makes it easier for you to account for the difference between your QuickBooks deposit total and the deposit total on your bank statement. Learn how.

    In the Go onlineMerchant Service Center, you can search for fees and also access up to 13 months of statement history.

Learn more about your statement

For more help reading your monthly statement, visit the Merchant Service Center's Home page (choose Customers > Credit Card Processing Activities > Merchant Service Center) and click Learn how to read your statement.

See also

KB ID# H_SVC_QBMS_HOW_ARE_MERCHANT_ACCT_FEES_SHOWN
9/25/2016 10:21:18 PM
PPRDQSSWS403 9138 Pro 2017 93d55b