Statements and fees

Merchant statements provide a wealth of payment processing data, and their use varies based on your business's needs and size. Our statements are divided into three major sections, the Deposit Summary, Funding Summary and Interchange Qualification Summary with a Cover Page to start with. The Deposit Summary is broken down into smaller sections. See below an overview of your statement:

• The Cover Page displays basic merchant account information along with any important service announcements and account information
  
• The Deposit Summary displays the Card Type Summary along with any fees that were calculated and assessed. It also provides a summary of any Other Charges, Chargebacks and Financial Adjustments during this statement period
• The Card Type Summary section indicates the total amount of money processed during the statement period. It provides you a summary of cards accepted, including Sales and Return volumes, item counts and average ticket
• The Card Type Charges shows you a breakdown of charges for each card type you have processed transactions with. It displays the processing volumes and any associated processing fees for each card type. This will include fees going to the payment brands as well as Chase’s fees
• The Other Charges section shows your monthly non-card specific fees. This includes terminal rental fees, monthly admin fees and other charges that do not usually vary from month to month. The total of those fees is easily found under Total Other Charges
• You will find Total Amount Charged underneath Other Charges. This is the sum of Card Type Charges and Other Charges. These charges will be deducted from your bank account at the beginning of the month following the statement period
• The Chargebacks & Reversals section lists and summarizes the chargebacks and reversals for your statement period
• The Financial Adjustments section shows you itemized financial adjustments processed during the statement period based on date and description, as summarized in the Funding Summary section. The amount charged to your account is indicated in black, while any credits to your account are indicated in red.
• The Funding Summary gives you a thorough view of your daily deposit details for each payment brand, including chargebacks and reversals, financial adjustments and charges and fees. Negative are shown in red text with parentheses
• The Interchange Qualification Summary provides you with a comprehensive view of interchange qualification for each payment brand you process transactions with

To quickly assess how much money you made, first look at the Funding Summary section. This section displays how much money Chase Merchant Services funded your business, per day. It will also display any other events that affected the amount you were funded, such as a chargeback, an adjustment or fee. To see the full amount at once simply look at the Amount Transferred under the Totals line.

 

Each line on the on Funding Summary will show you the following:

• The date of the Funding and Processing
• The Card Type
• The Amount which is the net dollar amount for that specific card type
• Charges & Fees which is the net charges and fees amount deducted from funding during the statement period
• Chargebacks/Reversals which is the net dollar amount of the financial events due to chargebacks and reversals for that day
• Financial adjustments which is the net dollar amount of settlement adjustments to your account
• Amount Transferred which is the net dollar amount transferred to your account by Chase Paymentech, reflecting all adjustments

Note: The sections cross reference each other. For example, if you see a chargeback in the Funding Summary and want more information, go back to the Chargebacks & Reversals section. Or, if there is an adjustment that seems out of place, return to the Financial Adjustments section.

The Card Type Summary section will show you the total breakdown of your sales by card type for the entire statement period. It will show you the number and amount of sales, the number and amount of credits (or returns), the total number both sales and credits as well as the net sales amount. The Net Sales amount is a total dollar amount of the sales minus the credits for that card type. The net total is divided by the total number of items to calculate the Average Ticket for that specific card type.

 

The section will also display the Totals for the Number of Sales, the Sales in dollar amount, the Credits which are returns, the Total Number of Items and the Net Sales for a quick overview of every card type combined.

To see the amount of all fees taken for that statement period, you need to look at Total Amount Charged. This includes the Total for all Card Types and the Total Other Charges.

The general rule when reading your statement is that positive amounts are shown in black and negative amounts are shown in red with parentheses. For example, fees in the Card Type Charges and Other Charges sections are represented positively in black to provide you with the total amount of charges and fees. However, because charges and fees are, by definition, owed by and deducted from your account, the total amount shows up as negative on the Funding Summary section. See a breakdown of each section for more understanding:

• In the Card Type Summary section, negative amounts (debits) are shown in red. Positive amounts (credits) are shown in black. This is because deposits are amounts added to the merchant account and therefore, a credit is black and a debit (or credit to the cardholder's account) is red
• In the Card Type Charges and Other Charges sections, negative amounts (debits) are shown in black. Positive amounts (credits) are shown in red. This is because fees are amounts subtracted from the merchant account, therefore, a debit is black, and a credit is red
• In the Chargebacks & Reversals section, negative amounts (debits) are shown in red. Positive amounts (credits) are shown in black. This is because  Chargebacks are "charged back to the merchant" meaning they were initiated to get money back for the customer from the merchant and reversals are, by definition, reversing the chargeback and giving the money back to the merchant. Therefore, a credit to the merchant account is black and a debit is red
• In the Financial Adjustments section, negative amounts (debits) are shown in black. Positive amounts (credits) are shown in red. This is because Financial adjustments are debited from the merchant account, therefore, a debit is black and a credit is red
• In the Funding Summary section, negative amounts (debits) are shown in red. Positive amounts (credits) are shown in black. This is because Funding is the amount added to the merchant account and therefore, a deposit is black and a subtraction from the deposit is red

The statement serves as a summary of your business's financial activity. Unfortunately, individual transactions cannot be displayed on statements due to space and size restrictions. Remember, however, that all your transactions activity can be found in real time on your Resource Online account.

Visit our dedicated disputes support page, to understand everything about chargebacks and how to manage the disputes process.

The amount transferred could be negative if the sum of all refunds, fees and adjustments exceeds the total amount of positive sales activity.

If you are set up to receive your statements by postal mail, there could be a delay from the postal service or an issue with the mailing address we hold on file. If you are set up to receive them by email, there may be an issue with the email address we have on file. If you are experiencing any issues with your statements please give us a call so we can rectify and update your records.

Remember that regardless of how you are set up to receive your statements they will always be available through your Resource Online account as the quickest way to view them.

Please make sure you contact us as soon as possible as any discrepancies must be brought to our attention within 90 days from the date of the statement.