Forum Discussion

SusieExpTech's avatar
SusieExpTech
Experienced Cover User
3 years ago

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 received an Invoice from MYOB for the 6 Transactions in August, although there is a descrepancy between what MYOB charged us $260.30 - and what our customer was charged $254.23.

 

Can someone help me wrap my head around this - this is the first month that we are using this and I have read all of the help pages on charges. Am I missing a fee or something??

  • Hello SusieExpTech 

     

    Online payments do have a fee of $0.25 per transaction + 1.8% of the invoice value.  Which you can pass the 1.8% as a surcharge to your customer

    If you are being charged it may be that you have missed a step while setting this up. 

    1. Go to the Setup menu and choose Preferences.
    2. Click the Emailing tab.
    3. Click Edit payment options.
    4. Select the option Surcharge credit card payments and choose the Ledger account to record fees and surcharges. This will be the AccountRight income account you want to use to track surcharges.
    5. Click Save. Now, you just need to create and send invoices like you normally would.

    You are able to turn off the surcharges for individual invoices, I would make sure that you have this ticked when sending these out.

    Please also note that if a customer chooses to pay via BPAY, they will not incur a surcharge fee. However, you will continue to be charged any fees related to payments received via BPAY.


     

    • SusieExpTech's avatar
      SusieExpTech
      Experienced Cover User

      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?

       

      • ChrisMYOB's avatar
        ChrisMYOB
        Former Staff

        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 calling our online payments team so they can investigate why you were charged the amount. Our online invoice team can be contacted on 1300 783 674