Accounting and Finance, Credit Card Processing

Don’t Lose Money from Processing Fees Paid on Sales Tax

Information provided in this article is for educational purposes only and does not constitute tax advice. For tax advice for your business, consult a tax professional. Paying Fees on Sales Tax What type of businesses does this affect? Can I change how I process transactions to avoid paying fees on sales tax? Passing Fees to…

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For every transaction you process that is subject to sales tax, you pay processing fees on the total amount, including the sales tax. Processing fees paid on sales tax can add up quickly, so improperly deducting credit card processing fees paid on sales tax can be a costly mistake, a fact that many businesses that do their own taxes fail to consider.

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Credit Card Processing

Credit Card Processing Comparison Charts

Charts are easily manipulated, leaving you to try comparing apples and oranges. Even if the creator of the chart doesn’t intend to mislead, a lack of complete information can be just as detrimental to finding the right solution. When you’re looking for the best credit card processor, the key is to find the right one…

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I’m often asked why this site doesn’t have a lengthy merchant account comparison chart. The answer is simple – intricate comparison charts are useless.

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Credit Card Processing

Introduction to Samsung Pay

What is Samsung Pay? How does it work? Samsung Rewards What cards work with Samsung Pay? Security How much does it cost? How can I accept Samsung Pay at my store? What is Samsung Pay? Samsung Pay is a digital wallet that can be used with Samsung Galaxy phones in models S6 and later. Users…

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Samsung Pay is a digital wallet available from major electronics manufacturer Samsung.

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Credit Card Processing, Restaurants and Bars

How Tips Paid by Credit Card Could Affect Your Restaurant

Tips over a certain percentage of the bill can trigger flags for fraud, resulting in card issuer-initiated chargebacks, or can cause your transaction to be downgraded to a more expensive interchange category. Tip Tolerance What happens if I get a chargeback for a big tip? Tips and Interchange Downgrades Spotting Downgrades on Your Statement How…

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Now that credit and debit cards have become a popular way to pay for meals, customers often add tips for servers when they sign their credit card receipt. However, this common practice could have implications for your bottom line.

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