Billing Statement

what is a billing statement

Your Billing Statement tracks all payment gateway service related billing events, including the assessment of all service fees. Actual billing for payment gateway services occurs on the first day of each month.

The following information is presented on the Billing Statement:

Current Outstanding Balance – The amount currently owed to the payment gateway for service and other applicable fees (billed monthly).

Date – The date of the statement entry.

Type – The type of action taking place for your Billing sub-account. For example, Payment.

Item – The specific item or action taking place. For example, Credit Card Payment.

Item Description – Any additional description of the Item. For example, Payment Received.

Amount –The amount being transferred, billed, or refunded. If this amount appears in parentheses, funds are being transferred to your merchant bank account.

Account Balance – The current dollar amount in your Billing sub-account. A positive balance indicates funds owed to the payment gateway. A negative balance (displayed in parentheses) indicates funds owed to you.

Tips for reading your Billing Statement:

Amounts indicated in parentheses, for example “(272.02),” indicate that funds are being transferred to your merchant bank account. The Account Balance is decreased by the same amount.

Amounts that are not enclosed in parentheses indicate charges or return payments to your Billing sub-account. The Account Balance is then increased by the same amount.


Category: Forex

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