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Rafiq11
November 7, 2022
Question

MyPos reconciliation minus fee?

  • November 7, 2022
  • 1 reply
  • 0 views

Hi,

I am switching from my usual merchant account as the fees are not worth the occasional card payment.

I have purchase a MyPos Go device and I am trying to figure out how to reconcile the payments minus the fee.

 

There were some topics in search with SumUp but I get a red message missing error so I can't read the messages.

 

I take the payment on the MyPos device, the payment goes to a bank account they have setup for me, from there they minus the fee and I can withdraw the remainder whenever I want to to my bank account.

 

I intend to withdraw after every transaction to make it easier to track for me.

 

How do I allocate the payment as it is 1.3% less than the invoice amount?

 

Thanks.

1 reply

A
Ashleigh1
November 7, 2022

Hello Rafiq, 

 

Welcome to the Community page, 

 

Are you recording it as a customer invoice in QuickBooks? If you are then you can received payment to the open invoice and select the Undeposited funds as the bank account. Then create a bank deposit and you can record the bank charges/fees with the negative amount under the Add items to this deposit. 

 

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