![]() ![]() CALL CENTER SERVICES Reach out to your target audience in a way they prefer – inbound, outbound, telemarketing, email marketing or chat support.Granger Supply/ElectricalĪs an alternative, instead of showing as a reversal to expenses you could setup a separate “expense” account (quick pay rebates) and post to that as a contra-expense (post income to an expense) to keep things clean. You would enter only your portion of the rebate as a deposit with an expense category (to offset any fees paid to the 3rd party processor OR to the expense category for vendor … I.e. Then when you get your “rebate” check/deposit from the 3rd party processor… They are giving you an early payment discount of 5% that is in the form of a rebate at the end of the month (doesn’t actually matter who holds the money) There is no way to split the payment between the line item and the QP on the Bill Pay window as there is when you create the bill.įrom an accounting standpoint… you aren’t charging them anything… But the problem I'm running into is what when I go to apply payments to the vendor invoice it's just not working correctly. And that shows the QP Reserve Asset Account as an accumulating positive balance. So I had to enter the inital line item as $1425 and the QP Fee of $75 as both a positive number in order for it to match the vendor invoice. ![]() ![]() But what I discovered is that if I try to show it as a negative in the create bill window it was also showing up as negative balance in the new holding asset account. I then set up an asset holding account to transfer the entire QP Fee into when I create the bill. So what I have set up so far is that the vendor invoices are entered via Bills and Vendors - create bill tab. That 3.5% fee that I collect as part of the service fee is held and distributed to me at the end of each month. So the vendor will be paid a NET of $1425. Of which 3.5% goes to me and 1.5% goes to the third party company. So as a service fee to the vendor we charge them 5% for that. Vendor invoice is $1500 - but they request to be paid within 48hrs instead of Net 30. But of course 3rd party company only pays $1425 and retains 1.5% of the QP Fee when they send the ACH payment. So I entered the amount of the invoice showing the QP Fee as part of the invoice EX $1425 line item and $75 for QP fee = $1500 total. Which meant that I wouldn't be able to transfer out of it at the end of the month. But I realized that if I entered the QP Fee as a subtraction from the vendor invoice that it was showing up in the QP Reserve account as a negative balance. So what I did was set up a QuickPay reserve asset account to hold those fees until they are distributed at the end of each month. So I need to track it as an income to myself as well as a fee to the 3rd party company. All of my vendor payments are managed by a 3rd party company and that fee income that is deducted from the vendor invoice is split between us. On some of these vendor invoices there are Service Fees that are subtracted if the vendor chose to be paid "QuickPay" (cost of paying their invoice before Net 30). I have entered my vendor invoices and now I need to apply payments. ![]()
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