Merchant Services Invoices with fees 'netted' off

Question

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

Andy Rickeard · Accepted 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

Anita Harper · Answer

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 &pound; 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.

Sage 50 Accounts

Merchant Services Invoices with fees 'netted' off

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