Question

Using payment terms to add amount to invoice for credit card payments

  • 17 September 2021
  • 3 replies
  • 110 views

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Using payment terms to add amount to invoice for credit card payment. We want to add a 3.5% on some invoices, thinking payment term is the way to go since it is based on the amount of the invoice and we don't want to manually calculate this fee.  We want to add a 3.5% on some invoices, thinking payment term is the way to go since it is based on the amount of the invoice and we don't want to manually calculate this fee. 

Therefore we have a payment fee for credit card payment that will add 3.5% to the invoice amount and that amount would go to an account for credit card processing revenue.

Will this work ? and if so, Is there special setup steps to make this work?

 

 


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3 replies

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Basically this is to allow our customer to pay with a credit card and for us to recoup the fees charged by the credit card companies.

Userlevel 5
Badge +8

We have a need to do the exact same thing. Suggestions appreciated. In the meantime, I will be testing adding a Charge Type to the Customer, to see if IFS will calculate the $ amount based on 3.5% of the invoice total. We’d need to catch it before the invoice is printed (for those customer who receive their invoice by mail)

 

Userlevel 5
Badge +8

I tested this this afternoon. Attached are the details on how to set it up and where this type of charge shows.This should work for you. 

Thanks