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

Basic Statement

At the top is:

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

Activity Summary

The Activity Summary outlines the total processed sales and credits.

Total Sales: The total amount of money made from sales in a month.
Card Brands: Different types of credit cards accepted by the merchant.
Number of Sales: The total count of sales transactions for the month.
Total Credits: The total amount of money refunded or credited back in a month.
Number of Credits: The total count of refund transactions for the month.
Deposit after credits: The amount of money left after subtracting refunds from sales for each card brand.

Deposit Detail

The deposit detail section includes:

Deposit date: The day the batch of transactions was put into the bank.
Summary Totals: The total money from all transactions deposited.
Amount Batched: The total money to be deposited in the batch.
Amount After Adjustments: The money deposited after subtracting adjustments and chargebacks.

Processing Detail

Interchange / SimpleChange / Advantage Program / Flat Rate

The processing detail breaks down "Pass-through Fees," fees charged by card brands, not Shift4. Shift4 bills these fees and passes them on to the card brands. Each card brand has its own rates and fees, based on the sales processed with their cards.

Note: For merchants on the Advantage Program, the Supplemental Fee that the cardholder pays covers the PROCESSING DETAIL ONLY, not Authorization or Other fees.

Processing Detail Other: Tiered

The processing detail other section provides a breakdown of sales that fell into a Mid or Non Qualified category.

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

Card Brands: Types of credit cards that the merchant takes.
Qualified: Regular credit card transaction rates.
Mid-Qualified Rate: Extra fee for transactions meeting some criteria.
Non-Qualified Rate: Extra fee for transactions not meeting certain criteria.

Authorization Detail

The authorization detail section outlines:

Authorization: A request to use funds, can be accepted or rejected.
Card Brands: Types of cards accepted by the merchant.
Number: 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.

Other Details

The other fees section outlines:

Pass-through Fee: Fees set by card brands for network usage.
Shift4 Billed Fees: Fees charged by Shift4.
Fee Amount: Number of fees applied.
Fee Volume: Number of times the fee amount is charged.
Fee Rate: Cost of one fee.
Total Fees: Total cost of all "Other Fees".

Internal: Refer to Billing Matrix & Statement Glossary for additional information.

Summary

The summary section outlines:

Summary By Section: The breakdown of information in different parts of the statement.
Total Billed by Section: The total amount charged in each section of the statement.
Total Processing Fees: The overall total amount of fees charged for processing transactions in the billing statement.

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.

Note: Authorization and Other fees are NOT reduced or included in Advantage Program.

Processing Fees: The overall charge for handling card transactions in a month.
Fees Paid via Advantage Program: Money paid by cardholders for processing through Advantage Program.
Other Section Fees: Additional charges that may relate to the program.
Total Billed to Merchant: The total amount the merchant owes after subtracting fees paid by cardholders from processing fees.

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.).

POS BILLING

If the merchant uses Gift Card Services, POS SaaS (Software as a Service), or POS Accessories, an extra statement will be added at the end. These are billed separately and through ACH.

Shift4 Address: The official mailing address of Shift4.
Billing Month: The month covered by the statement for billing.
MID: Unique number identifying a merchant.
Legal Name & Billing Address: The merchant's official business name and address used for billing.
POS Accessory Packages: Extra accessories added to the point-of-sale system.
POS System Packages: Installed point-of-sale systems on the account.

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.

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?
- Advantage program Covers Processing but does not cover Other, Authorizations or POS Billing.

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

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