🌍 Transparent reporting is currently available for Stripe accounts who process: EUR, GBP, USD, AUD, CHF; & for all Adyen Merchant of Record accounts (learn how to find out whether you're using Adyen MoR).
With transparent reporting, your interchange and scheme fees will now be totally visible in your reports. You'll be able to see a breakdown of your fees per payment, with information about each payment card, so you can:
See your exact payment processing cost, broken down by fee type.
Gain more insight into the cost drivers of your network fees.
Track how your fees accumulate.
See the exact fees associated with the processing of virtual credit cards.
Track your fees with the Payment report
To see a breakdown of your fees:
From the Dashboard, click Payment report.
Choose the date range you want to check your fees for.
Export. Note: Information about your fees is only available in the export of the Payment report.
From there, you'll be able to see the following new columns:
Issuing country code
The country where the payment card was issued.
The bank where the payment card was issued.
The type of card funding (eg. credit, debit, or prepaid) which card schemes (eg. Visa/Mastercard) use to determine fees.
Unregulated fees charged and defined by card schemes such as Visa and Mastercard.
A fee defined by card schemes (eg. Visa/Mastercard) and paid to issuing banks. Interchange fees vary depending on country, and change a few times per year. Check out the current interchange fees for Visa and Mastercard.
The commission agreed with us and outlined in your contract (per card type).
The difference between the estimated and the real (adjusted) fee. Visible in the Mews Payments balance report as Commission adjustment.
Adjusted total fee net
The total amount that was settled after we received new values from Stripe (sum of interchange, scheme, and commission).
Adjusted tax value
If the account needs to pay taxes on payments, the value will be shown here. Otherwise, a "0" is displayed.
Adjusted total fee
Equal to the sum of the adjusted total fee and the adjusted tax value.
💡 The scheme fee, interchange and commission columns will be blank until 3 days after the payment is taken—this is how long it takes for Stripe or Adyen to send us the actual fees.
Real-time commission adjustments
We estimate how much commission you'll pay based on the previous month. Once we receive the actual fees from Stripe and Adyen, they're automatically added to the Payment report export and reflected in Mews Payments balance report. You can track these commission adjustments in the Mews Payments Balance Report.
Note: Commission adjustments only apply for Stripe accounts, and only for Visa and MasterCard payments. If your property has a negative account balance, commission adjustments may not go through until it is positive.
Track commission adjustments
To see the adjustments we've made to your fees:
Go to Main menu > Finance > Merchant balance.
Choose the date range you want to see your commission adjustments for.
Under Type, deselect all except Commission adjustment.
If the amount listed next to Mews Payments commission adjustment in the Mews Payments Balance Report is negative, we've charged extra (because our estimate was too low), and if it's positive we've returned money to you (because our estimate was too high).
💡 Commission adjustments will also be visible on your Mews invoice.
Commission adjustments and accounting integrations
If you use an accounting integration, the fees listed will match the ones in the Payment report but only with the fee total net or fee total column, as accounting integration will pull estimated fees. It probably won't be possible to match it with the real charged fees presented in adjusted total fee net. That's because accounting integrations pull information the day after the payment, but we update that payment three days later once we have the real fees.
To check that the numbers match between the Payment report and your accounting software, schedule a daily export of the Payment report at the same time your accounting software pulls data.