How deposit and fee transactions are labeled
Autobooks will make deposits into your designated checking account when you receive payments from your customers. Autobooks will debit any fees owed from that same designated checking account, when applicable.
How fees are assessed
Autobooks will debit fees for a payment transaction from your account at the end of the same business day that your payment was deposited. For example: Autobooks deposits your customers full payment into your checking account on June 8. The transaction fee for that payment will be debited in a separate line item from the account at the end of the business day.
If you subscribe monthly for Autobooks Accounting features, your subscription fee will be debited from your designated checking account every 30 days from the date you subscribed.
Autobooks transaction descriptions
Payment deposits from Autobooks will always contain our name in the transaction description. The remainder of the description will include the words "disbursement" or sometimes "settlement" (final wording is dependent on the payment provider).
Fees that are debited by Autobooks will also have our name in the description, along with the phrase "web pmts". This descriptor is true for both transaction fees as well as montly subscription fees.