Merchant Statement

A merchant statement is a monthly report provided by the merchant service provider that details all the transaction activity for the month, including total sales volume, individual transactions, fees, chargebacks, and refunds. It’s a crucial document for merchants to understand their sales activity and costs associated with payment processing. The merchant statement is typically generated at the end of each billing cycle and may be provided in paper or electronic format. It usually includes a summary section that provides an overview of the account activity for the month, followed by detailed sections that break down the transactions, fees, and other charges. Merchants should carefully review their merchant statements each month to ensure that all transactions have been correctly processed, and that there are no unexpected charges or discrepancies. It’s also a good idea to keep a copy of the merchant statement for record-keeping purposes and to reconcile it with the business’s accounting records.