Merchant Services Invoices with fees 'netted' off

SOLVED

We use Worldpay for our online merchant services. They used to send us money from customer payments and then invoice for their fees separately which was easy. Now they 'net off' their fees from the payments.

So when using Bank Feeds I can match the incoming payments to customer invoices but how do I then match to the Worldpay invoices which are not pulling through in the Bank feeds screen?

Thanks

James

  • +1
    verified answer

    Hi James,

    Thanks for using Community Hub.

    To keep your turnover reports right, I'd expect the invoice to be paid in full in Sage 50 Accounts, then you could raise a batch invoice / payment to represent the World Pay fees.

    If World Pay Fees are deducted are deducted from the payment, then I'd expect a difference in the invoice value and the payment value, a shortfall representing the World Pay fees.

    This may be something you'd like to discuss with your accountant to see how they would like to see sale and fees recorded.

    if this helps, please click Verify Answer.

    Regards,

    Andy
    Sage UKI

  • 0 in reply to Andy Rickeard

    Would be nice if bank feeds offered the opportunity to put the difference between the invoice and the payment as bank charges

  • 0
    SUGGESTED

    Personally, I wouldn't want to raise a batch invoice in my customer account as it would cause confusion and query with the customer.

    We have a similar issue with Paypal.  When funds come in, we post the actual net amount as a bank transfer to the main bank account, then post a sales receipt for the full value that the customer paid, then a bank payment for the fees, all using the same "Ref" as the net £ amount received. These 3 transaction net to zero in the control account.

    In one client situation there are only a few transactions a month so it's not too onerous, but another client has multiple payments a day so we now download reports showing actual receipts, fees and transfers and import that into Sage through 3rd party add ons.

  • 0

    I'm answering my own enquiry here! Here's what I did:

    1. Using Auto Entry I had already uploaded all the Worldpay invoices for the fees being debited. I hadn't used the 'mark as paid' function against Worldpay within Auto Entry at this point.

    2. Using the Worldpay Dashboard I was able to view the invoices and so I then made manual 'supplier payments' against each Worldpay invoice - this brought them through into the Bank Feeds Sage Transaction window.

    3. I then allocated both the customer payments and worldpay invoices to the corresponding bank credit and all reconciled perfectly.

    This was however very time consuming and our transaction volumes are tiny.

    I have since turned on the 'mark as paid' function against Worldpay within Auto Entry - I think this will bring through the Worldpay Invoices into the Bank Feeds Sage Transaction window automatically and so this should make slightly quicker.

    Ultimately the answer is to switch the merchant service away from Worldpay and use 'Wonderful Payments' instead - much quicker, easier and cheaper going forward!

    Thanks to all for your replies.