Debit Surcharging Reconciliation
We are excited to be supporting you in offering debit surcharge for Interac® transactions to help increase your revenue. We are working closely with all of our POS providers so that these additional transactions can be soon incorporated into your reporting. The initial launch phase will require some manual reconciliation as outlined below:
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Example 1: Transaction Amount $55.00 with a surcharge of $0.50. The transaction receipt will show as follows:
Example 2: Print out a Detailed Report – this example shows 3 total transactions:
Transaction 1: $55.00 Interac with $0.50 Surcharge = $55.50 total
Transaction 2: $45.00 Interac with $0.50 Surcharge = $45.50 total
Example 3: Summary Reports (Manual & End of Day)
For the same 2 transactions in Example 2 you will see the following if you manually print the Summary Report or the Automatic Summary Report that prints out end of day at Terminal Settlement time:
Interac Sales (2) $95.00 (transaction 1 for $55.00 and transaction 2 for $40.00)
Interac Fees (2) $1.00 ($0.50 each for transaction 1 & 2)
For the End of Day Summary you will see the Host Settlement amount for Debit as $96.00 ($95.00 in Sales and $1.00 in fees) – This will be the total amount deposited next day as your Debit deposit amount. NOTE: this amount will be greater than your POS total for debit which will not account for the total fees collected. Your POS debit total should be your total Sales minus the Fees amount on the above print outs. In the above example your POS end of day report will show $95.00 in debit transactions as it will not show the $1.00 collected in fees.
Additionally – if you have custom daily reports sent via email, we will include the surcharge amounts as a new column on the deposit and transaction reports.