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A merchant summary is a sheet, similar to a credit card voucher, provided by the bank.

Banks will be required to group together various types of non-cash transactions such as:

visa card transactions

Bankcard transactions

MasterCard transactions

Cheques

Gift vouchers

EFTPOS transactions

Once the above types of transactions have been grouped together, you can then calculate the amounts for each type of transactions.

Finally, you can add all of these individual amounts together to give you an overall amount for non-cash transactions. This amount will be entered onto a merchant summary sheet.

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Q: What is merchant summary used for?
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