Matching a supplier payment that includes AMEX fee in bank feeds

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Contributing Cover User kim432
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Matching a supplier payment that includes AMEX fee in bank feeds

Please help!  I have paid my suppliers through the Pay Bills function and used my AMEX credit card.

When the amount appears in the Bank Feed, it includes both the supplier payment and the AMEX fee as a total amount.

When I use the find function on the Bank Feed to find the bill that was paid, it won't allow me to enter the AMEX fee and therefore I can't match and approve the payments.

How do I add the AMEX fee so that I can match my payments?

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Ultimate Partner GDay53
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Re: Matching a supplier payment that includes AMEX fee in bank feeds

@kim432

 

Welcome to the MYOB Community Forum, I hope you find plenty of useful information.

 

If you use the Undeposited Funds account you can match the totals.

Pay your bill from Undeposited funds.

Enter the Amex Fees as spend Money from Undeposited Funds.

In Prepare bank Deposit match the bill payment and the fee as a deposit.

The bank feed should now find the deposit created and match.

 

Graeme Day
Registered BAS Agent #24745540
First Class Accounts Clayfield
Mobile: 0402 841 627
gday@firstclassaccounts.com
MYOB Certified Consultant
MYOB Diamond Partner
Contributing Cover User kim432
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Re: Matching a supplier payment that includes AMEX fee in bank feeds

Fantastic thank you that has worked!

Partner AlanT
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Re: Matching a supplier payment that includes AMEX fee in bank feeds

@kim432

 

Hi Kim,

 

Another way to record the Amex charge is to use the Finance Charge feature.

 

You will need to set this up in the Setup » Linked Accounts » Purchases Accounts and tick the option called I pay charges for late payments.  You can then select the expense account to post these to.

 

Screen1.jpg

 

Then when you are paying the bill, enter the full amount that has been paid to the supplier then click in the Finance Charge field for the fee.

 

Screen3.jpg

 

This is just another way to do it. 

 

Hope this also helps.

 

Alan

 

Contributing Cover User kim432
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Re: Matching a supplier payment that includes AMEX fee in bank feeds

Hi Alan,

 

Thank you very much for replying.  I couldn't do it this way because AMEX was processed through B2B pay third party. When I was paying the bill in MYOB I couldn't enter it as a finance charge as it wasn't paid to the supplier it was paid direct to the thrid party who paid the supplier for us.  I did try adding it as a finance charge but it wanted to pay the full amount including the AMEX fee to the supplier.

 

Unless I am missing something?

 

Kim

 

 

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