Card Scheme Fees Paid (Visa / Mastercard / JONET)
Recording monthly card scheme fees paid to Visa, Mastercard, or JONET for card network services.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Card Scheme Fees Expense | Expense (+) | 25,000.00 | - |
| Cash / Scheme Debit Account | Asset (−) | - | 25,000.00 |
💡 Accountant's Note
Card scheme fees include transaction processing fees, assessment fees, and network access fees. They are a cost of running the card business and are recognized as incurred. They reduce the net interchange revenue earned by the bank.
Practitioner & Systems Framework
💻 ERP Architecture
Scheme fees are charged by Visa/MC via their service invoices and auto-debited from the bank's settlement account at the scheme. JONET fees are billed by the Jordan Payments and Clearing Company (JPCC). The CMS records the fee components separately for management reporting on card economics.
⚠️ Audit Flags
Auditors reconcile scheme fee invoices to the settlement account debits. Unexplained variances may indicate unauthorized deductions or processing errors. The card business profitability analysis (interchange income net of scheme fees and fraud losses) is a key management report reviewed in the audit.
📄 Required Documentation
Monthly Visa/MC/JONET fee invoices, settlement account debit confirmations, CMS fee expense report, and card economics management report.
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Expert Analysis by Qusai Ahmad
General Accountant Supervisor & IFRS Specialist
Specialized in SAP GUI automation and Middle Eastern tax compliance. Building digital tools for the next generation of finance leaders.