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Joanne G

payment card fees

Posted By

Hi, i have just changed my merchant account to a new supplier who takes their percentage of card payments off at source and I'm confused how I would account for this - my previous one paid me the full amount then I paid all the charges back to them each month. Now a payment  of say £100 will only come to me as something like £98.25 (maybe not exact but just as an idea). So how to i account for the discrepancy in Sage? 

Thanks

J

Parents
  • 0

    Hi Richard,

    Thanks for that. Would I be able to do this when the bank feed that comes into sage would only show  the reduced amount  can I change the amount that gets transferred from the bank feed? I'm fairly new to Sage and don't have an accounting background so this is all like rocket science to me!

    Thanks again

    J

Reply
  • 0

    Hi Richard,

    Thanks for that. Would I be able to do this when the bank feed that comes into sage would only show  the reduced amount  can I change the amount that gets transferred from the bank feed? I'm fairly new to Sage and don't have an accounting background so this is all like rocket science to me!

    Thanks again

    J

Children
  • 0 in reply to Joanne G

    Hello Joanna,

    With the transactions coming from the feed I would discard these transactions as if you were to match them to customer invoice then they would always have an amount outstanding. I would discard them then record the full amount manually against the invoice and then do a money out transaction to record the charge. If you are unsure we are happy to discuss and we are here on 0191 479 5911.

    Kind Regards

    Richard

*Community Hub is the new name for Sage City