Credit Card Surcharge
Hi Guys, We have started giving our customer the Credit Card Surcharge costs. As I can see in our receipt it adds it to their payment, and MYOB has reconcilled it in Bank Fees fine. We have ...
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HI ChrisMYOB
Thanks for your reply. I have gone through our set up looking at the settings we have chosen. This is what we have:
Online Invoice Payments (I dont have editing access)
Allow Online Invoice Payments: Selected
Settlement Bank Account & Bank Account for Dirct Debit of Fees: has the Banking icon.
BSB & ACCT numbers dont have numbers there
Ledger Account to Record Payments: Our Business Bank Account is selected (Asset)
Credit Card Surcharging
Enable the option to pass on credit card surchages: Selected
Income account to record late charges and surchages: Sales - Other (Income)
Does this seem correct?
Hello SusieExpTech
Those settings do appear to be right, can ou confirm that your customer has paid with a credit card only, as mentioned when paying via Bpay the charge isn't pushed forward so this could be why you were both charged if they paid one via Bpay and some via credit card.
You will be able to run an online invoice payment report, which will tell you the method of how they have paid. If it is all credit cards I would advise contacting our online payments team so they can investigate why you were charged the amount. Our online invoice team can be reached by created a support case via myaccount.myob.com
Thanks ChrisMYOB
Still confused by it as I am looking at last months transactions now - two transactions both paid by Credit Card. I'll show you what I have worked out.
September transactions: 2
Charged to the customer:
Date Paid Invoice Amount 1.8%
15/9 $2,343.84 + $42.19
15/9 $2,469.13 + $44.44
Totals $4,812.97 + $86.63 (Including GST) = $4,899.60
$86.63 and $0.50 for 2 transactions, will be $87.13
Charged to us from MYOB Invoice
Invoice total: 2 transactions is $88.69 (including GST)
Which is 1.8% of the total amount paid to us by our customer (inclusive of the 1.8% they paid)
$4,899.60 x 1.8% = $88.19, plus $0.50 = $88.69
So MYOB charges the customer 1.8% per invoice, and we get charged 1.8% of the total amount paid to us, including the 1.8% paid by the customer, plus $0.25 per transaction. I thought we were just "passing on" the charge to our customer and paying a 25cent transaction fee, which is why my figures dont reconcile.
SusieExpTech wrote:Thanks ChrisMYOB
Still confused by it as I am looking at last months transactions now - two transactions both paid by Credit Card. I'll show you what I have worked out.
September transactions: 2
Charged to the customer:
Date Paid Invoice Amount 1.8%
15/9 $2,343.84 + $42.19
15/9 $2,469.13 + $44.44
Totals $4,812.97 + $86.63 (Including GST) = $4,899.60
$86.63 and $0.50 for 2 transactions, will be $87.13
Charged to us from MYOB Invoice
Invoice total: 2 transactions is $88.69 (including GST)
Which is 1.8% of the total amount paid to us by our customer (inclusive of the 1.8% they paid)
$4,899.60 x 1.8% = $88.19, plus $0.50 = $88.69
So MYOB charges the customer 1.8% per invoice, and we get charged 1.8% of the total amount paid to us, including the 1.8% paid by the customer, plus $0.25 per transaction. I thought we were just "passing on" the charge to our customer and paying a 25cent transaction fee, which is why my figures dont reconcile.
we were looking at adding credit card payments to our invoices, does MYOB calculate what the fee should be and add to the final cost or do we have to calculate it? (we would pass the fee to our client).....what the procedure to apply?
Hi guys,
Can someone please let me know how I can go about reconciling this discrepency and explaining it to our management?
As clearly we are not just "passing on the fees" to our customer and us only paying 0.25 cents per transaction.
Thank you.
We now have credit card facility approved and switched on...and we have enabled the option to pass on the surcharge to our clients...however its fustrating to have to remmeber to enable it as weve accidently sent out a couple invoices where it wasnt ticked...
what happens tho when a reminder invoice is sent out, does it have the box ticked to apply the surcharge? as it appears we have to remember to enable this when sending out invoices where its not set as default:manfrustrated:...
