I have a card payment bank account set up and a clearing account. The customers pay the card fee. When a customer pays by card, I add the fee to the invoice then deduct the fee from the total payment. All is good using this method. I am wondering how I would manage card payments for non invoiced items. I wasn’t able to think of a method other than at the end of the day having to generate an invoice for the total amount of the non invoiced items sold and managing it all as if it were just one big purchase and one payment. Is there a way? Help appreciated.
Just do a receipt for the net amount, with the gross amount posted to sales and a negative amount posted to bank charges
Either a single transaction for the day’s sales or individual transactions for each payment although that’s probably not necessary
Yes, I see that I could do that. That will show though in the expenses. It’s not really my expense though as the customer has paid it to the card company. I suppose there is no other way unless I do what I have been doing and just create one bulk invoice.
It is actually your expense - you sold goods to the customer to the value of $100, the customer paid $100 and the credit card company or bank charged you 2% or whatever, and deducted that before remitting the balance of $98 to you
It’s not when the customer is paying the card fee in addition to the sale price as @PeterW59 stated:
- The customers pay the card fee.
- When a customer pays by card, I add the fee to the invoice
- It’s not really my expense though as the customer has paid it to the card company.
To use your figures, sold goods to the value of $100, added the card fee of 2% so the customer pays $102 on the card and the seller receives $100 from the card merchant
So the $2 charged is contra off by the card fee of $2 - so in effect no income or expense.
Yes, as you have a mix of invoiced and non-invoiced, this puts all credit card sales on the same footing.