Forum Discussion

5 months ago

Solved

BPAY payments on invoices, amount received in the bank not the same as the invoice?

Hi everyone,

I'm having some trouble understanding BPAY payments from our clients for our invoices.

I know that BPAY fees can't be covered by the client, although have noticed that the amount we receive into our bank account from the client is LESS than the total invoice amount.

Although when the client has sent through proof of payment directly from their bank statement, it has the original invoice (higher amount) total.

Could anyone please guide me on where to find out:

Where the BPAY fee is being allocated then? As the AccountRight software has still been auto matching the invoices when clients pay through PAYNOW.

Keen to also know your experience and if it's better to just turn off the BPAY option for payment and keep CreditCard options only.

Thank you in advance :)

Dragana

BPay

Shella_A
5 months ago
Hi anidcounts,

Glad to know that you've found where the fees are. There is a transaction fee that will apply to all payments made online. The difference in the amounts is due to the surcharge fee. Transaction fees of 1.8% of the invoice total + $0.25 per transaction. When your customer pays $400, the fee is deducted before the amount is deposited into your bank account, which is why you received $392.55. The surcharge is automatically calculated and deducted at the time of the transaction, not at the end of the month. See this link about online payments for more details.

Cheers,

Shella

3 Replies

Doreen_P
MYOB Moderator
5 months ago
Hey anidcounts,

BPAY surcharge fees are being allocated to the Payment category or Fee category when you initially setup Online Invoice Payments. You can check this link for more information regarding surcharges for online payments.

Best regards,

Doreen
anidcounts
5 months ago
Hi Doreen,

Thank you so much :) I have found where the fees are.

Although, I'm still confused how the client paid $400 and has proof of this yet we only received $392.55 in the bank but MYOB matched the invoice to the payment for the $400.

Does the surcharge get paid automatically at the end of the month with the monthly MYOB surcharge fees?

Thanks again!
- Shella_A
  MYOB Moderator
  5 months ago
  Hi anidcounts,
  
  Glad to know that you've found where the fees are. There is a transaction fee that will apply to all payments made online. The difference in the amounts is due to the surcharge fee. Transaction fees of 1.8% of the invoice total + $0.25 per transaction. When your customer pays $400, the fee is deducted before the amount is deposited into your bank account, which is why you received $392.55. The surcharge is automatically calculated and deducted at the time of the transaction, not at the end of the month. See this link about online payments for more details.
  
  Cheers,
  
  Shella