merchant fees

[smallgrain]

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

[Arie]

Hi @smallgrain,

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.