Bank Processing Fees

Hi ​@ozzyleb 

You can add the fees in the processing center in the highlighted field below 

Refer step 09 in the below article for more information

To Set Up a Processing Center for Settlement of Credit Card Payments

Thank you Kashani. I'll check it out and get back to you.

Sometimes Woopayments deposit a lump amount for 2 or 3 invoices. Can I reconcile 1 deposited amount in bank account to 2 or 3 invoices in the bank feed??

KushaniPerera88 wrote:

Hi ​@ozzyleb 

You can add the fees in the processing center in the highlighted field below 

 

Refer step 09 in the below article for more information

To Set Up a Processing Center for Settlement of Credit Card Payments

I'm using MYOB Acumatica. Your screenshot and the link is different to what I have. Processing Centre isn't there.

Hi ​@ozzyleb 

You may elaborate if the fee is charged to the Customer ( added on SO/ Invoice ) and then collected by adding that fee to the Order value ‘OR’ its just treated as a deduction from total payment you receive from the client using payment gateway mentioned. 

For scenario #1, where you intend to collect the fees from customer, one can add that fee as a non stock item on Sales order or Sales Invoice manually. 

For scenario #2, refer to the suggestion given below. The Payment method will be the Woo commerce gateway in this case.

• One can use ‘Charges’ tab on ‘Payments and Applications screen’ to add an entry type to add Bank fee on AR payment receipt transaction. 
• Here is an example, say client receives $10 and out of that $1 is charged /deducted by Bank as Bank fee. 
• Setup an entry type for Bank fee first using CA203000 screen. You may refer to Demo tenant for an example
• Add the Entry type on ‘Entry types’ tab on Cash account profile (CA202000) for required Cash account linked to the Payment method client would use to receive payment.

Receiving payment of $10 against the Invoice

Added Bank Fee

Note the GL entries generated post release of above Payment.

Hope this helps.

Regards,

Hi Vjay,

Yes I understand. I have tried this.

How WooCommerce works with us is if the invoice is $10, they keep $1 and transfer $9 to us in the bank account. We pay the fee, not the client. Most times, WooCommerce will deposit a lump sum for 2 to 3 invoices.

Also, when processing bank transactions, if I mark the invoice to COMPLETE, sometimes it doesn't appear in MATCH TO PAYMENTS. Because in order to add a charge in the payments and applications, it will COMPLETE the invoice. 

Cheers