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• # 115407
• Fri 28 Jul 2017 08:06 AM

Help please?

There are several payments on bank accounts for things that look to be the same with several different names; FDMS, FDR, Paymentsense, VLS, EMS (there could be more that don't come to mind right now)

The chunks of paperwork that arrive in relation to some of them are not clear re what they are and VAT etc.

Can anyone knowledgeable on these please help as to what they might be allocated to; ie 'card machine hire' or 'bank/merchant charges' and what the VAT element is on them?

Thank you

Karen 

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• # 115409
• Fri 28 Jul 2017 09:06 AM

Hi Karen,

FDMS is First Data Merchant Services

EMS is Elavon Merchant Services

Your client(s) should have a login for these accounts (and I assume the others you have listed will have the same facility) where they will be able to download the relevant invoices relating to the payments taken out of their bank.

The invoices will detail the expense items and the vat applicable as some items are not vatable.

For receipts into the bank from these companies this will be the sales amounts taken through the card machine.

Hope this helps with your query.

Marilyn

• A clever person solves a problem.

  A wise person avoids it.

  Albert Enstein

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• # 115410
• Fri 28 Jul 2017 09:21 AM

Thank you for replying Marilyn.

I understand that FDMS is First Data Merchant Services etc but the invoices I get are not that clear and I am surprised that I dont see VAT listed on them, as in the past I have seen invoices that are part exempt and part VAT-able.  So I wondered if anyone knew (in general) what the account name/code would be for each named charge and what is VAT-able.

I dont have a log-in.  I thought I would ask here in the first step of my investigations.

Thank you for responding

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• # 115429
• Mon 31 Jul 2017 12:13 PM

Hi Karen

I have a client who uses First Data and they get a monthly and a yearly statement. The yearly statement is for the lease of the actual reader and those charges are vatable, the monthly statement lists all the sales which obviously includes vat and the service charges which are not vatable. So if you were using Sage the postings would be

4000 - Sales  T1

7703 - Leasing Costs T1

7901/2 Bank/Merchant charges T9

hope that helps

CAP

Oh by the way the vat element on the reader is 20% standard rate. 

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