Your statement is a summary of the previous month's sales and payments. It contains the monthly total of your gross payable sales, offset against the monthly totals of commission, payment service fees and subscription fees charged. If you look at your weekly summaries, the totals together match the figure that you see on your monthly statement.
Sample statement with explanatory notes:
A general outline of the payment process is as follows:
Every Friday, we send you a payment notification email that includes all sales for that week. From those sales, we offset your commissions and credit card payment service fees
On the first of each month, we apply your subscription fees to your account. On the first Friday of the month, your payment is therefore offset by that weeks commissions and payment service fees as well as your subscription
Should the amount that you owe us be greater than the payment for your sales, we will charge your credit card to make up the difference. As long as your sales are greater than your fees, we never need to charge your card
Please note that all EU sellers are charged 19% German VAT (location of AbeBooks European head office) on subscription fees, processing fees and sales commissions in accordance with EU regulations. If you are VAT registered and did not enter your VAT number during the registration process, please contact our customer service team in order to update your account and be exempt from the VAT charge in future. Please ensure to include the following information when contacting us: Name of the VAT registered company, Address of the company and Company status (Ltd., PLC, etc.)
Payment notification emails are advanced notice of your deposit; the funds will be transferred to your bank one week later, and then deposited by your bank within a few days.
Related subjects:
How and when do I receive my payments from AbeBooks?
Where can I view details for payments and fees?
