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I have done some research and cannot figure out if we can do this in GP or not. I was hoping someone may be able to help me. We are going to be offering payment of Sales Invoices through a third party payer so they are going to take a fee from us depending on if the client pays by ACH or credit card. We will know that fee at time of the cash receipt. Is there a way for us to add that into the cash receipt to charge it to the expense account we designate since we need to reflect we got less money but received the whole AR amount?
Darin-
I've done this trick in the past and it has always worked well.
Since the fee is essentially a writeoff, in the master posting setup in GP (Administration > Posting > Posting Accounts) under Sales, change the Writeoffs account to be whatever account you want the fee to hit.
When entering cash receipts and applying to open transactions, enter the actual amount of cash you're going to receive in the Apply Amount column and the fee in the Writeoffs column. This will make the whole invoice paid, the proper amount of cash received and hit Bank Deposits/Reconciliation correctly and the fee gets posted to the GL.
I hope this helps.
Joe
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