merchant fees

smallgrain — Mon, 28 Mar 2022 09:54:44 GMT

Hi there,

I am new to square and bookkeeping in general, does GST apply to merchant fees or are they a GST free expense?

Thank you in advance

Re: merchant fees

Arie — Tue, 29 Mar 2022 00:20:05 GMT

I noticed it's your first post, welcome to our community 👋

There is a portion of Square’s fee that is shown as GST, as Square is registered for GST. Our quoted per transaction processing fees, e.g 1.9% for payments taken on the Square Reader, are inclusive of GST. We provide a statement at the end of each month breaking down your fees, and GST portion in your Dashboard. To download this statement, head to Account & Settings > Business > Tax Invoices.

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merchant fees

Re: merchant fees