Payment fee
A payment fee is a charge taken out of a customer's payment before it reaches you: the bank's charge on a transfer, the card company's commission. It is picked on the Payment Fee tab of a Collection.
What it is for
On a collection, a fee line lowers what you actually receive: the invoice is cleared in full, the bank gets the amount less the fee, and the fee (with any tax on it) posts to the fee's account.
Every field in plain words
| Field | What it means | What to put |
|---|---|---|
| Payment fee | The fee's code | Required. Must be unique in the company |
| Name | What it is called | Required. "Bank charges", "Card commission" |
| Block | Retired | |
| Account Layer | Which ledger the fee posts to | General ledger shows Account and makes it mandatory |
| Account | The expense account of the fee | Required for the general ledger layer. On the collection, the account of such a fee cannot be changed |
What it is connected to
- Collection, tab Payment Fee. The tab can be hidden for the company with Hide Payment Fee on Account Receivable Setting.
If something looks wrong
- "Payment Fee Cannot be Duplicate". The code exists in this company.
- "Collection Fee - Line ID : ... - Account is not configured on Collection Fee: ..." on a collection. The fee is on the general ledger layer but has no account here. Set it.