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    4 Replies Latest reply on Feb 20, 2008 3:50 PM by amspcs

    Merchant services and billing

    Excellent Adventurer

      I receive a monthly invoice from Quickbooks POS Merchant Services which bills $18 or so every month. It gives me a monthly summary of all credit card charges processed (which is usually one). It lists the gross amount paid but it doesn't tell me how much is withdrawn for the fee. I have to wait until I get my bank statement to find out how much the fee was and then I have to assume that the electronic deposit is for that particular charge. Why doesn't the invoice tell me, how much they're deducting for the fee?
        • Re: Merchant services and billing
          LUCKIEST Guide
          Merchant services and billing. Good question.
          Call QB and ask.
          Go to Members and add a few words about your business
          LUCKIEST
          • Re: Merchant services and billing
            amspcs Ranger
            Just call QB Help 800-558-9558 and find out what your discount rate is (or refer to your merchant statement---this is something you should know). Beware you have THREE rates, qualified, mid-qualified, and non-qualified. What you are seeing deposited into your account is the amount of your sale LESS the appropriate discount fee which they deduct on a daily basis. In other words, if you process $100 and your discount rate is 2%, you'll see $98 ($100 less 2% of $100 which is $2) deposited into your bank account. Also note this isn't the only fee you'll pay. At the end of the month you'll see further debits from your account to cover per item fees, statement fees, other misc non-qualified fees, etc. By the way, when you call QB help you'll also need your merchant number, which you'll find on your monthly merchant statement which they mail to you. Hope this helps.
            BG
            amspcs@juno.com
            www.merchantservices-help.com
            • Re: Merchant services and billing
              M&M Services Wayfarer
              Give me a call about this issue, I have been working with Quick Books for about six years now and this has been a complaint from business owners for a long time. Can give you options on what you can do to get them to add it to your statement.

              M. Walker
              866 351-1627
                • Re: Merchant services and billing
                  amspcs Ranger
                  M&M--What 'issue that merchants have been compaining about" are you referring to? I have been in the merchant services industry for many years now, including several with Quickbooks, and I have no idea what you're talking about. Since we are both in the merchant services industry, presumably we both know that merchant statements deal in batch totals, not individual ticket totals, so they never break down costs transaction-by-transaction. . This is the industry norm and certainly not an issue of any kind ---all this merchant needs to do is call his help number and get a brief education as to how to run batch reports on his end, and how to understand his merchant statement when it arrives in the mail. I must also be frank and express the opinion that I feel the purpose of this forum is to help people and provide useful information, not hornswaggle them into calling us so we can get our hooks into them and pitch our services. If you have useful info for the poster of the question, then spell it out for all to read and profit from---that's why this is called a 'forum'. If the reader is appreciative of the info provided and they make the decision to initiate contactl, that's great! But I don't think simple 'call me' posts are appropriate.

                  BG