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Understand your credit card processing statement

SOLVEDby QuickBooksQuickBooks Payments (Merchant Services)41Updated 1 week ago

Learn the answers to some of the questions about your statement.

Your monthly statement shows your processing activity by date. You'll also find some totals that help you see how your business is doing and track the fees you pay for service. Here are the sample statements.

This is an example of a statement with no monthly service fee.

Statement for free account_QBPayments_US_Ext_091721.PNG

This is an example of a statement with a monthly service fee.

Statement with monthly fee_QBPayments_US_Ext_091721.PNG

What is a discount fee?

Discount fees are the fees paid by a merchant to their customer’s card-issuing bank and card associations. This will let you process a payment on a network like Visa without having actual cash available. In some cases, such as American Express, the card-issuing bank, and the card association are the same company.  In the case of Intuit, these would be the fees based on your processing fee rates. 

What is an authorization fee?

An authorization fee is a per-transaction fee that applies to all credit cards that Intuit assesses.

Why doesn’t my fee counts match the number of transactions?

Fees for some transactions processed near the end of the month may show on the next month's statement.

Why don't deposits match my sales by date?

  • You processed additional sales after the daily batch time (3 PM Pacific time).
  • Intuit withheld funds for a time before the deposit.

How can I lower the fees I pay?

  • Swipe cards whenever possible. Swiped rates are significantly lower. You can order a GoPayment card reader via the GoPayment mobile app.
  • Reverse bad sales before batch time (to void instead of refund).
  • Don’t try to swipe again and charge a lower amount if your card gets declined.
  • Get signatures whenever possible to guard against chargebacks.
  • See if you qualify for a lower rate plan.

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