Invoicing & Underpayments
Hi, I was wondering how to fix an issue with invoicing, I have an agent that when they pay my invoice they deduct a 1.5% surcharge from the total of the invoice they are sent. So now the invoice in my system is say $220.00 less their 1.5% so a total of $216.70 is paid so I'm left with an underpayment of $3.30
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The best way to manage these scenarios is using a Clearing account. This is a dummy bank account which allows you to 'pay' out of it & 'receive' amounts into it so you're left with the correct net amount.
You would receive the full $ 220 into the Clearing bank account, then OUT of that ($ 220 in the) Clearing account, you would enter a Write Chq for the $ 3.30 Surcharge expense. This leaves the correct net amount of $ 216.70 which you can then either Write Chq or Transfer Funds to deposit to your actual bank account 😊
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Thank you very much.
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