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Credit card processing fees


#1

Hi, I am evaluating switching from my home made excel worksheets to manager and so far everything looks great.

The one thing that would help me along a lot is an easy way to add the credit/debit card processing fees my bank charges; otherwise I am forced to feed them in manually calculating the % of the daily card charges (different percentages for debit and credit) and this is very susceptible to human error when calculating and inputing the amounts.

Is there some way to make this more automatic? Maybe (ab)using Tax codes?

Thanks in advance!


#2

It’s not possible in Manager and I’m not aware of any accounting software that is automating this. The problem is that debit/credit card processing fees are usually not fixed percentage for whole lot. There is usually fixed per transaction charge, different percentage charges based on type of card etc.

Are you saying your credit card charges are always exact percentage of the amount regardless how many transactions you have and what types of cards your customers use to pay you?


#3

Thanks for the response!
As far as I’ve seen (this is a relatively new small business) there is a fixed percentage for debit cards and a higher one for credit cards (only Visa + MasterCard, not amex). This is in Mexico by the way.

I read somewhere on the forum that you might open up some kind of a .NET api or access to the db. I might be able to hook on to that when it’s ready.

Thanks for Manager, it’s awesome!