How to read a Moneris statement

The four numbers FeeHound needs

Card sales: gross Visa, Mastercard and Amex sales for the month, before refunds. Leave Interac out.

Number of card sales: the count of sales, not refunds.

Total fees: every processing fee for the month, before any GST, HST or QST line shown on its own.

Interac: your Interac sales, number of Interac sales and Interac fees, if Interac is on the same statement.

Where to look on this statement

Page 1 usually has a summary of sales and deposits by card type, with a count and an amount for each. Use the sales figures, not the deposit figures.

A fee summary follows, with discount or processing fees by card type. On interchange-plus plans you will also see interchange and card network fees. Transaction fees and monthly fees, including terminal rental, are listed separately.

Amex is often listed with volume but billed by American Express directly. If you see Amex sales with no Amex fees, choose "Amex bills me directly".

Statement messages near the end can announce fee changes. Note the date a change takes effect for the rights questions.

Common mistakes

Net sales and deposits are not sales. Net sales have refunds taken off, and deposits have fees and chargebacks taken off.

Some fees come out of your daily deposits and never appear in a monthly fee total. Add every fee line, and compare the sum with the printed total.

Chargebacks, prior-period adjustments and annual fees sit in the same list as pricing fees. Enter them in their own boxes so we can set them aside.