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Jim2® Business Engine Help File

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Apply a Credit Card Charge Using Stock

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Add a Stock GL Group

Go to Tools > Setups > Accounting > Stock GL Groups and click Add.

Type – Non Depleting, Journal.

Name – Credit Card Fee.

GL Account – it could be:

Income eg 4-7500 Credit Card Charge

COGS eg 5-5100 Vendor Credit Charges or

Expense eg 6-1240 Credit Card Fees.

credit card fee

 

Info

It's wise to check with your accountant, as you may need to add a new GL account.

 

Add a Stock Record

Code – CARD.FEE

Type – Journal

GL Group – Credit Card Fee

Enter Description of your choice

Tick This Stock I Sell in and Tax – G

card fee stock

On the Pricing Tab:

Add a price level

Select Price Calc Method – Fixed Price

Price Inc = 0.0309

 

credit card fee1

Info

This setup is for 3% of the total invoice price including GST. You will need to calculate the value for other % rates. There is a slight rounding issue that may become apparent on large invoices – there is no way around this except to override the Price Ex or Price Inc as appropriate.

On the Details tab, change the decimal places to:

Qty = 2

Sell price = 4

credit charge details tab

 

Add a Job and Complete the Sale

Check the Total sale value

Add the Stock CARD.FEE then change the Order Qty to equal the original job Total

credit card fee3

In this example, the total sale before adding the CARD.FEE was $22.00, therefore 62 cents plus GST is added to the total after adding an order quantity of 22.00.

Invoice the job.

You can see that 0.62 cents net ex GST has gone to the appropriate card fee account and 0.06 cents has been added to the GST Collected account.

credit card fee4

 

Further information:

Credit Card Surcharge Management

Use Company Credit Cards