Your Billing Reserve Statement tracks all funds withheld from your transaction processing for applicable payment gateway service fees. At the next payment gateway monthly billing, the amount of funds needed to cover your billing balance is then transferred to your Billing sub-account and applied to your bill. The entries on this statement reflect these events.
The following information is presented on the Billing Reserve Statement:
Current Outstanding Balance –The amount of funds currently in your Billing Reserve sub-account.
Date – The date of the statement entry.
Type – The type of action taking place for your Billing Reserve sub-account. For example, Transfer.
Item – The specific item or action taking place. For example, Billing Transfer.
Item Description – Any additional description of the item. For example, Usage fees transfer from settlement.
Amount – The amount being transferred in to or out of your Billing Reserve sub-account. If this amount appears in parentheses, funds are being transferred out of the account, and the Account Balance is decreased by the same amount.
Account Balance – The current dollar amount in your Billing Reserve sub-account. A negative balance indicates funds owed to the payment gateway. A positive balance indicates funds owed to you.
Tips for reading your Billing Reserve statement:
Amounts indicated in parentheses, for example “(272.02),” indicate that funds are being moved out of your Billing Reserve sub-account. The Account Balance is decreased by the same amount.
Amounts that are not enclosed in parentheses indicate funds that are entering your Billing Reserve sub-account. The Account Balance is then increased by the same amount.