Forum Discussion

SusieExpTech's avatar
SusieExpTech
Experienced Cover User
5 months ago

Accounts receivable: GST on MYOB's Credit Card Surcharge on payments not reconciling with payment amount

Hi MYOB Community,

 

I have a payment made by a customer via Credit Card, and it doesn't match the invoice price. Payment is $3.90 more than my invoice. The price difference between the Invoice amount and the Bank Feed amount is exactly the GST of MYOB's Surcharge for a credit card payment, less $0.25 cent merchant fee.

My payment notification from MYOB looks like:

You've just been paid $2,581.83 by (Customer)

Invoice amount $2,305.62

Tax                     $  230.56

Surcharge          $    45.65

Total amount     $2,581.83

Surcharge (excluding GST)

                          $    41.50

Merchant Fee    $      0.25

Total amount 

Received           $2,540.08

And that is the amount in my Bank Feed.

 

My Invoice to match this payment against is $2,536.18

 

What am I missing in the invoicing process that it does not include the GST of the surcharge?

And how do I best reconcile this payment now.

 

Thank you!

  • Genreve_S's avatar
    Genreve_S
    MYOB Moderator

    Hi SusieExpTech

     

    I understand how the amounts might not match the invoice directly because of the values. Generally, invoice payments should automatically match invoices once paid. I recommend reading the article 'Automatically Matching Online Invoice Payments' to see what might be hindering this from happening. For GST calculations, check out the article 'Fees and Charges for Online Payments.'

     

    If you need more help, visit myob.com/support or myaccount.myob.com to find MOCA, our virtual assistant. MOCA can help with immediate queries, and if it can't help, you'll be directed to our live chat team.

     

    Thanks,
    Genreve