What does this tool do?
The bank deposits your point-of-sale sales into your account, then deducts its fee and the VAT on it in separate transactions. With hundreds of transactions a month, it is hard to know how much you actually paid. The tool reads the bank statement and totals for you:
- The amounts collected in each settlement, the bank fee, the VAT on the fee, and the net.
- The breakdown by card type: mada, Visa and Mastercard, and “Other” for anything whose type is unknown.
- The breakdown by month, and the effective fee rate.
The tool is for the accountant who records bank fees and claims input VAT, and for the business owner who wants to know the cost of card payments.
How to use the POS fees tool
- Download the bank statement from your bank as PDF, Excel or CSV.
- Upload the statement on the tool page. You can upload several statements for consecutive periods, and the tool removes duplicate transactions between them (same date, amount and balance).
- Review the result in four tabs: Summary, By month, Details and Checks.
- Download the report as an Excel file with formulas: one sheet for the summary and one sheet for the details of each settlement. Seeing the result and downloading require registering once with your mobile number and email.
The statement must have a date column, and an amount column or debit and credit columns; a description, reference and balance are preferred. A PDF file must be text-based, as issued by the bank, not a scanned image. Hijri dates are not supported at the moment.
How does the tool extract the fees?
The tool works in two ways, depending on the statement layout:
- By reference: if transaction references start with PAY followed by the network code, such as PAYMADA, PAYVISA and PAYMCCR in Bank AlJazira statements, the tool groups all transactions with the same reference into one settlement. The credit transaction is the amount collected, the debit one containing the word “VAT” is the VAT, and the remaining debit transactions are the fee. If no VAT description appears, the tool treats a transaction equal to 15% of another transaction with the same reference as its VAT.
- By description and date: if there are no such references, the tool searches the description for words such as mada, Visa, Master, point of sale or POS. It then links each fee or VAT amount to the settlement with the same reference, or to a settlement of the same type on the same date.
It then calculates the effective rate = fee ÷ amount collected before VAT, and also shows the rate including VAT. If the statement has a balance column, it checks the running balance transaction by transaction.
Worked example: three settlements in one statement
A statement with three settlements under the references PAYMADA, PAYVISA and PAYMCCR, and an electricity bill payment. The rates in this example are hypothetical, for illustration only; actual rates vary according to your agreement with the bank.
| Card | Collected | Fee | VAT | Rate | Net (SAR) |
|---|---|---|---|---|---|
| mada | 10,000 | 80 | 12 | 0.80% | 9,908 |
| Visa | 4,000 | 100 | 15 | 2.50% | 3,885 |
| Mastercard | 2,000 | 50 | 7.50 | 2.50% | 1,942.50 |
| Total | 16,000 | 230 | 34.50 | 1.44% | 15,735.50 |
The electricity transaction was not included because it is not a point-of-sale transaction. Total deductions are 264.50 SAR, and the effective rate is 1.44% before VAT and 1.65% including VAT.
In the “What do the numbers say?” section, the tool notes that Visa and Mastercard are 37.50% of sales but 65.22% of fees, and that if these transactions (6,000 SAR) had gone through mada at its effective rate of 0.80%, they would have saved about 117.30 SAR including VAT.
How to record the result in your books
From the example above, the settlements can be recorded in one journal entry for the period:
| Account | Debit (SAR) | Credit (SAR) |
|---|---|---|
| Bank (net deposited) | 15,735.50 | |
| Bank fees expense | 230 | |
| VAT — Input | 34.50 | |
| POS sales receivable from the bank | 16,000 |
The VAT on the fee can usually be deducted as input VAT if the business is registered for VAT and has a tax invoice or notice from the bank. Confirm this with your tax advisor, and read Calculating net VAT on the return.
Points to check before relying on the result
- The bank deposits the net amount: some statements show the amount after the fee is deducted, with no separate fee transaction. In that case the calculated fee is zero, and the tool reminds you to request the detailed settlement statement from the bank.
- VAT that is not 15%: if a settlement's VAT differs from 15% of its fee, a note appears in the Checks tab.
- Incomplete month: if the statement starts or ends mid-month, the tool warns you so you do not compare it with full months.
- Classification by description can be wrong with banks that use different descriptions, so review the Details tab.
The statement is read and analyzed inside your browser, and it is not uploaded to our servers or stored.
Frequently asked questions
How do I calculate the mada fee from a bank statement?
Is VAT charged on POS fees?
Can VAT on bank fees be deducted as input VAT?
Which bank statement formats does the tool accept?
Why does the fee show as zero in the result?
Do you upload my bank statement to your servers?
Content last reviewed: 2026-10-26