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Post Info TOPIC: what nominal code for COA for Credit card charges.
Amanda


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what nominal code for COA for Credit card charges.
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Hi Everyone,

I have a client who has recently started accepting credits cards for payments, he gets charged by the credit card company for this, what nominal code would I post the charges to in Sage instants?  He normally gets billed monthly for this.

Many thanks

 



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Amanda
Stardoe


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Hi Amanda,

I would put it somewhere in the financial charges range 79xx in my Sage Instant. Does he rent the pdq terminal as well, as this would be billed separately on the invoice, so he would have financial charges and pdq rental. (That is if it's the same as the Streamline invoices I have to deal with).

Pauline

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Pauline
Amanda


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Hi Pauline,

Yes it looks like its a PDQ Managment fee, I will set up a new Nom code for it.

Many thanks,


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Amanda
fabs79


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Hi Amanda,

I agree with Pauline and would post it as a financial charge in the 79xx range. I use a similar approach with a client of mine that accepts payments via Paypal (and gets charged a fee for the service). I believe it's a similar scenario?

All the best.

Fabio

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