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JamesWoodcock
December 15, 2020
Question

short payment

  • December 15, 2020
  • 1 reply
  • 0 views

Ok,  I invoiced a customer £202.95 for goods and this particular customer could only pay by means of sum up (accepts credit card payments). I linked sum up to my QB bank account and the payment from sum up came through as £199.52, as they had charged some £3.43 commission on the transaction. My question is how do I correctly close off the customer payment (match) and at the same time charge the business for the £3.43 commission. Thanks

1 reply

C
ChristieAnn 11
December 15, 2020

Hi there, JamesWoodcock.

 

It's good to see you here in QuickBooks Community. I'll share steps on how to correctly close off the customer's payment with the credit card charge so your account stays accurate. 

 

First, I recommend creating a service item for the £3.43 commission and change the income to an expense account. This way, you're able to use this to deduct the original invoice amount.

 

Here's how:

 

  1. Go to the Sales menu at the left panel. Then, select the Products and services section.
  2. Click the New button.
  3. Select Service.
  4. Add a name for the service item. Then, from the Category dropdown, select the category that best describes your product or service.
  5. Select the I sell this product/service to my customers checkbox. If you don't sell the item, you can leave it unchecked.
  6. Enter an amount in the Sales price/rate field.
  7. Click the Income account dropdown arrow and choose any expense account you want to use to track the sale.

 

For additional information, you can click this article: Add product and service items to QuickBooks Online.

 

Once done, I recommend creating a credit note for the customer so you're able to add the service item you created. That way, this will start deducting the whole invoice amount you've made so you can record the invoice payment with the correct cost. Follow the steps below.

 

  1. Select + New.
  2. Choose Credit note.
  3. From the Customer dropdown, select the customer's name
  4. Enter the credit note details, such as the date and the amount. Tip: You can create a custom credit service item so you can quickly add it to credit notes as a single line item.
  5. Hit Save and close.

 

For additional details you can refer to this article: Create and apply credit notes or delayed credits in QuickBooks Online.

 

After that, you can go to the Receive Payment page and record the invoice payment. From there, you can now see that the amount is £199.52 and you're able to close off the customer payment to tag the entry as close also. Please refer to this article on how to perform the steps: Record invoice payments in QuickBooks Online.

 

Please refer to this article to see steps on how you can personalise and add specific info to sales forms: Customise invoices, estimates, and sales receipts in QuickBooks Online.

 

Please reach out to me again if you need more help with this. I've always got your back. Have a great day!

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