Billing Statement Breakdown

Description: Please review this article to learn details of the various sections of a merchant's statement for review.

Access Statements in Titan

Navigate to Titan > Activity > Statements.
Select View PDF for the requested statement to download the document.

Statement Review

Statement Basics

At the top of the statement is:

Shift4 company logo
Shift4 mailing address
Billing month
MID: Merchant Identification Number
DBA name: Does Business as Name
Business legal name & billing address

Current Month Sales and Gross Sales Volume

A pie chart shows the card activity for the month.
A bar chart shows Year-Over-Year sales activity.

Summary Sections

The Summary Section outlines:

Category: A listing of each category with billed charges in the statement.
Amount: The total amount charged in each category of the statement.
Total Processing Service Fees: The overall total amount of fees charged for processing transactions in the billing statement.

The Advantage Program Summary:

With Advantage Program, the Merchant passes the processing fee charges to the cardholder, and are charged substantially less for processing by Shift4. These are included in the summary as fees paid:

Note: Authorization, Additional Services and Other fees are NOT reduced or included in the Advantage Program.

Activity Detail

The Activity Detail outlines the total processed sales and credits.

Card Scheme: Different types of credit cards accepted by the merchant.
Sales: The total amount of money made from sales in a month.
Sales Qty: The total count of sales transactions for the month.
Refunds: The total amount of money refunded or credited back in a month.
Refunds Qty: The total count of refund transactions for the month.
Net Amount: The amount of money left after subtracting refunds from sales for each card brand.

Authorization Detail

An Authorization is defined as any request to a card holder's bank to transfers of funds, including refunds. An authorization can be accepted or rejected.

The authorization detail section outlines:

Card Scheme: Types of cards accepted by the merchant.
Quantity: Count of authorizations per card type.
Rate: Cost per authorization.
Fee: Overall cost of authorizations for that card type.
Authorization Total: Overall cost of all authorizations.

Deposit Detail

The deposit detail section includes:

Process Date: The day the batch of transactions was put into the bank.
Quantity: The total transactions deposited.
Batched Amount: The total money to be deposited in the batch.
Net Amount: The money received after subtracting adjustments and chargebacks

Processing Detail

Interchange / SimpleChange / Flat Rate Pricing Models

The processing detail section breaks down fees directly related to processing transactions, and includes a mix of Pass-through Fees and Shift4 fees."Pass-through Fees", which are fees charged by card brands, are billed by Shift4 and then passed on to the card brands. Each card brand has its own rates and fees, based on the sales processed with their cards.

Card Scheme: Card brand details
Description: Fee type per card brand
Amount: Total sales per card fee type
Discount Rate: Fee rate per card fee type.
Quantity: Number of transactions per card fee type.
Trans Fee: Fees per transaction type (Seen under SimpleChange pricing model).
Processing Fee: Total fees per card fee type.

Processing Detail - Advantage Program

For merchants on the Advantage Program, the Supplemental Fee that the cardholder pays will show under the Card Holder Service Fee, the total of which will be under the Advantage Program Discount in the Summary section.

Tiered Pricing Model

Under Tiered Pricing, the Processing Detail section provides a breakdown of sales that fell into the various transaction rate tiers.

Note: Check Card in this section would mean debit ran as credit.

Other Detail and Additional Services Detail

The Other Detail fees section includes the following non-processing fee types:

Pass-through Fee: Fees set by card brands for network usage.
Shift4 Billed Fees: Fees charged by Shift4.

The section contains the following information on each fee:

Description: Fee type by card brand is a pass-though fee.
Amount: Total sales per card fee type, which may be used to calculate the total fee.
Rate: Base cost of the fee.
Quantity: Number of times the fee was assessed
Other Total Fee: Total cost of all "Other Fees".

If the merchant uses Gift Card Services, POS SaaS (Software as a Service), or POS Accessories, these service fees will be located in the Additional Services Detail section.

Note: For POS SaaS (Software as a Service) setups, POS Fees are charged as long as the equipment is on the account, even for seasonal accounts during their off seasons.

The section contains the following information on each fee:

Fee Description: A description of the service being provided.
Quantity: Number of times the fee was assessed
Rate: Base cost of the fee.
Additional Services Total Fee: Total cost of all "Additional Services Fees".

Please refer to the Billing Matrix & Statement Glossary for additional information on these fees in these sections.

Multi-MID Summary Sections

Merchants with multiple MIDs can generate Multi-MID statements which will include summary sections showing the totals of all MIDs:

Each MID will have its own details section included in the statement:

Net Vs Gross Billing

Note: Most merchants who are inquiring about Net or Gross Billing, will be on Daily Discount. (Including Advantage Program)

Net vs Gross?

To locate if the merchant is on Net or Gross billing structure:

Open MID in Titan > General Tab > Funding Type:

Net Billing: One Deposit that will more than likely NOT match their batch. Merchants will receive deposits minus their processing fees.

Note: For merchants Advantage Program: Service charge, processing fees and service charge deposits will go into a Shift4 holding account ending in xx7314. Merchants on the Advantage Program must remain on NET funding and cannot be moved to Gross.

Titan > General tab > Funding Type: N = Net

Titan > Activity > Deposits:

CBOS/mReports: Clearing and Settlement Detail

Gross Billing: Will see multiple debit and credit transactions. The Credit will match the batch amount. The debit will be the processing fees for that business day.

Titan > General tab > Funding Type: S = Separate = Gross.

Titan > Activity > Deposits:

CBOS/ mReports: Clearing and Settlement Details

Monthly and Daily Discount

Merchants can be billed for processing in one of two ways, Monthly or Daily.

Monthly: Processing Fees are taken out once every month.
Daily: Processing Fees are taken out every business day.

Note: On Daily pricing, merchants will also have a debit at the beginning of the month which is made up of Shift4 fees (statement fees, LBM, etc.) for the prior month.

Monthly discount

Monthly Discount: Merchants are billed for all processing fees, including Other, Authorization, and POS billing, based on their sales volume and number of transactions, all at once.

Note: Merchants on monthly discount will see either "748" (Monthly-48 hour funding) or "724" (Monthly-24 hour) in their Titan account under the "General" tab for funding information.

Daily discount

Daily Discount: Processing fees are spread out each day. Merchants are still billed at the start of the month for prior month's Shift4 fees (statement fees, LBM, etc.).

Note: Merchants on daily discount will see either "1148" (Daily-48 hour funding) or "1124" (Daily-24 hour) in their Titan account under the "General" tab for funding information.

1148

Merchants on Daily Discount with 48-hour funding will have their processing fees and other monthly fees debited daily with their deposits. They'll see two separate debits on their bank statements: one for interchange/SimpleChange fees and another for the authorization fee.

1124

Merchants with 24-hour funding are billed daily for processing fees. At the start of each month, they're charged for previous month's Shift4 fees (statement fees, LBM, etc.).

FAQs

Why do I see 2 transactions on my account every day?
- If the Pricing tab shows Gross Billing, this is why.
Why are my batches not matching my deposits?
- If the Pricing tab shows Net Billing, this is why.
I thought the Advantage Program meant I didn't have to pay for anything. Why am I getting billed at the beginning of the month?
- The Advantage Program Covers Processing but does not cover Authorizations or Additional Services and Other Fees.

If you have any more questions about Billing please contact Shift4 support by visiting our Support Page.

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