How to Read Your Merchant Services Statement
Find the figures you need, understand unfamiliar lines and avoid counting the same charge twice.
The short answer
Start with the statement period, gross card sales and payment count. Then separate processing charges, recurring services, adjustments and one-off items. Add relevant costs invoiced elsewhere only once. The amount paid into your bank is not automatically the right sales figure for a cost comparison.
In this guide
Gather the records for the same period
Open a complete monthly merchant statement, the matching transaction summary, your current tariff and any separate terminal or EPOS invoices. Choose an ordinary month first, then check a busy and a quiet month if your trading changes significantly.
Write down the start and end dates. A calendar-month software bill and a four-week processing statement do not cover identical periods. Record that difference instead of presenting an approximate comparison as exact.
Your provider’s statement guide can help decode its terminology. Elavon, for example, publishes a dedicated statement help page. Use the guide for your own provider because layouts and labels vary.
A fictional statement, explained line by line
| Statement line | Example | What it means here |
|---|---|---|
| Gross card sales | £20,000 | Sales processed before the listed fees |
| Successful payments | 1,000 | The count used by this fictional tariff |
| Processing percentage | £240 | £20,000 at 1.2% |
| Per-payment fees | £30 | 1,000 at 3p |
| Terminal rental | £25 | Already inside this statement |
| Compliance service | £5 | A listed provider charge |
| Total recurring provider charges | £300 | £240 + £30 + £25 + £5 |
Suppose software costs a further £45 a month and a separate annual service costs £60. Add £45 and £5 per month. The recurring baseline is £350 a month, or £4,200 over a year if the same month repeats. Do not add terminal rental again.
Separate charges from movements of your money
Fees deducted before settlement and fees collected separately can make a bank deposit hard to interpret. Reconcile the transaction report, fee statement and bank entries so that the same processing cost is included once.
Refunded sales, chargeback amounts and money held in reserve are not all service fees. Separate the principal amount from any associated administration charge. A reserve may affect cash availability without being a permanent fee; ask the provider about its release conditions.
A charge labelled “authorisation” may use a different event count from completed sales. If that is the case, do not multiply the fee by your successful-payment count and assume the result reconciles. Use the actual charge or ask for the correct breakdown.
Put the right figures into the calculator
- Monthly card sales: use the matching gross sales figure and confirm how refunds are treated.
- Provider bill: enter the recurring charges covered by that bill.
- Costs outside the bill: add software, terminals, connectivity or support only when not already included.
- Annual costs: enter the annual amount in the annual field. The calculator spreads it over 12 months.
- Missing figures: mark them as unknown rather than entering zero.
A setup invoice or an equipment purchase should not be silently repeated every month. For a future comparison, include relevant future one-off costs in the comparison route. Keep exceptional historical events separate from the ordinary recurring baseline.
Questions to send your provider
- Which card types and channels are included in each rate?
- What event count does each pence charge use?
- Which fees count towards the minimum monthly charge?
- Is this amount a service fee, a refund, a reserve or a settlement adjustment?
- Which terminals, subscriptions and annual charges are billed separately?
- What changed since my previous tariff, and from which date?
Keep the provider’s written explanation with the statement. For an initial EPOS Savings review, you can describe the unclear line or include your calculator report. There is no statement-upload requirement.
Common questions
Should I use turnover or card sales?
Use the card sales covered by the fees you are examining. Total business turnover can also include cash, bank transfers and other sales outside that processing bill.
What if I cannot reconcile the statement?
Record the unexplained difference and ask the provider to identify it. Treat the result as incomplete rather than creating a precise saving from uncertain inputs.
Put your own figures to work.
Use the free calculator to organise your costs and keep a report. If something is unclear, you can ask for a free initial review.
No registration required. Calculator entries stay in your open browser page unless you choose to share a report in a review request.
Sources and how to use this guide
Primary references checked on 15 October 2026:
Worked examples are original fictional scenarios, not customer results, market averages or provider quotations. Unless stated otherwise, they use a consistent VAT basis and include only the costs listed. Provider prices, eligibility and terms can change. Check your written agreement before deciding.
Our guides explain costs and comparison methods. They do not rank the whole market or claim hands-on product testing. Source links are references, not a claim of partnership. Read the calculation method and limitations, or about the service.
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