Certegy payments and how to allocate

Maz MannsMaz Manns Member Posts: 1
edited August 2019 in Accounts Hosted
I have customers who we have set up certegy Ezi Pay with, so we have been advanced the money, less their charges and customer is paying certegy back. the problem i have is how to go about setting this up as the amount borrowed does not cover what the customer owes, so i need to be able to enter in the amount we received from their bill and allocate the charges we have been charged for the service.

Comments

  • ZappyZappy Accredited Partner Posts: 4,430 ✭✭✭
    edited August 2019
    What is a certegy?
  • Brendon GardinerBrendon Gardiner Member Posts: 29
    edited March 2018
    Hi Maz

    You would set up the bill as the amount borrowed plus any charges which can be classed under interest, bank fees or similar.    You will find that it will be something like

    Motor Vehicle exepnses   1419.83
    Interest/charges                    88.30

    Total Bill                             1508.13

    There will be then the payments ie 13 in the case at $116.01

    Hope that helps.    The only other charges are late Payment fee of $15 and there could be a $3.50 per payment admin fee

    Regards

    Brendon Gardiner
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