Credit Card Surcharges for Cash Sale Debtors

v18.10, JF-224 

Overview

Credit Card Surcharges can now be added to a Consignment (as a Tax Invoice) for Debtors flagged as a "Cash Sale Account".

• There are no changes to Consignment Rating, Process or Postings to JAIX Accounts.
• The changes allow a Credit Card Surcharge to be added and printed on a Tax Invoice created using JAIX Freight > Consignments

Credit Card Surcharge Setup:

JAIX Accounts > Tools > System Setup > Main > Banking > Credit Card Surcharges

Select Add to create a table of the various Credit Cards & Surcharge %

Note:

The "Type" must be unique

Debtors:

For the Credit Card Surcharge to apply at JAIX Freight level, the Debtor must be flagged as "Cash Sale Account"

JAIX Accounts > Debtors > Search & Setup > Settings > Cash Sale Account

Adding Credit Card Surcharge to a Consignment:

Create Consignment > Charge to = Debtor with "Cash Sale Account" flagged

• Cash Sale Panel Appears

• User Selects Payment Type = Credit Card Type

• Select CC Surcharge Type
• % is calculated on the Consignment Total $ - Surcharge $ and Total Including Surcharge is displayed on Screen

Note:

Any Payment Types other than Credit Card disables the ability to select CC Surcharge Type.

The Consignment Rated Total $ remains the same excluding the CC Surcharge:

Select Print > Select "Tax Invoice" Option

Tax Invoice Display's the Credit Surcharge and Total

JAIX Accounts > Managing Receipts

Handling the Credit Card Receipting Process and Surcharge
As mentioned earlier the above changes do not affect Consignment Rating, Process or transactions posted to JAIX Accounts. Therefore, the Credit Card Surcharge is not posted.
JAIX recommends the following process to manage the Surcharges …

Setup

Where: JAIX Accounts > General ledger > Chart of Accounts > Create New [Credit Card] Bank [can be a bank per Credit Card]

Processing

Once Invoice Process is completed:
Process to Debtor [as charged at consignment level]

• Receipt for the Consignment Charge
  • $amount EXCLUDES the Credit Card Surcharge

  • Bank = [New] Credit Card Bank

NOTE: At this point, funds have not necessarily been received in the main Company Bank Account

Once main Company Bank Statement is received:
Process to General Ledger as a Receipt

• General Ledger Receipt to the main Company Bank Account

• General Ledger Account = [new] Credit Card Bank

Process Surcharge to Credit Card Surcharges [P&L Expense Account]
The [new] Credit Card Bank will now have a balance equal to the Surcharge deducted from the actual payment received and needs to be journalled as an expense …

• Check [new] Credit Card Bank and journal the balance to Credit Card Surcharges [P & L Account]

• DR = Credit Card Surcharges

• CR = [new] Credit Card Bank

• Check [new] Credit Card Bank = $0.00