Customer A/R Invoice formula in the total

Question

Good morning. 
 
 As of 2/11/2024 New York State has implemented a new law regarding credit card fees. You can no longer note "A credit card processing fee of 3.5% will be added to all invoices paid by credit card." Now you must list the invoice cash price $xxx.xx and the invoice credit card price $xxx.xx. Is there a way in Sage to add to the bottom of the customer invoice a formula for the invoice total multipled by 3.5% so that we can now list two totals? Thanks!

Erzsi_I · Answer

Hi Amanda Cole , 
 Thanks for reaching out. Did you ever find an answer for this issue and could you confirm that you are using Sage 50 Canada software?

To comply with the requirement to list both the cash price and the credit card price separately, including a 3.5% processing fee, you can manually add this fee as a separate line item on your sales invoices. Here's a brief guide on how to do this effectively: 
 
 In your existing sales invoice, create a new line item for the credit card processing fee. 
 Enter a description for this line item, such as "Credit Card Processing Fee". 
 Manually calculate the 3.5% of the invoice cash price and enter this amount in the "Amount" column. For instance, for an invoice of $100, the fee would be $3.50 ($100 x 3.5%). 
 Select an appropriate revenue account for this fee in the "Account" column and ensure no taxes are applied to this fee by selecting "No Tax" in the Tax column. 
 
 For a step-by-step guide and more detailed instructions, please refer to our article on charging credit card merchant fees on sales invoices: How to charge customers credit card merchant fees on sales invoices . 
 Furthermore, to facilitate different invoicing needs, including the ability to customize invoices for various situations, you might find our article on using Invoice Styles within Sage 50 helpful. It outlines how to create and switch between different types of customized invoice forms, which could be particularly useful for presenting the invoice cash price and credit card price distinctly. For more information, please visit: How to customize forms and invoice styles . 
 If there's anything more we can help you with or if you need further clarification, please don't hesitate to reach out. 
 Warm regards, Erzsi

Sage 50 Canada

Customer A/R Invoice formula in the total

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