Merging payments

hannahplewshannahplews Member Posts: 1

Hi guys, I'm new to accounting software and have an issue you may be able to resolve. When I mark an invoice as paid, let's say its $60 that payment is logged but my customer paid with a credit card so I only get say $57 ish which shows on my uploaded bank statement. I would like to merge these two payments and assign the difference as bank fees but it won't let me. What is the solution?


  • NopDesign_ConnorNopDesign_Connor Member Posts: 22 ✭✭

    I know they're working on making this a little easier (don't know the details tho) but for now, you'll just have to delete the $57 transaction and add an expense for the bank fees. So you'll have one income transaction for 60 bucks and an expense for ~3 dollars.

    Makes sense, @hannahplews?

  • djana821djana821 Member Posts: 5

    Same issue here - I was able to do this in the old version of Wave, now it seems it does not work since the software does not allow you to assign an expense account to a deposit transaction in the bank feeds, or make a negative entry in a split for that matter.

    My issue is that I am getting daily credit card batches from a third-party credit card processor that removes the merchant fees from the credit card batches daily before depositing the batch in the bank account. So if the credit card processor deposits $300, my sales were actually more like $305 or $310. To accurately report sales and bank fees, it would be very helpful to be able to split out bank fees from each transaction. QBO always let me do this with ease.

  • Katie_SilkinaKatie_Silkina Guest, Unconfirmed, Applicant, Member, Administrator, Moderator, Employers Posts: 73 admin

    @djana821 great suggestion and I've got some good news to share - we're launching the ability to add negative transaction line items to your version of Wave accounting within a week or two! This will allow easier accounting of processing fees (as you've mentioned in your example) as well as discounts.

    This means that your proposed workflow should now be possible. Using your example, the full transaction total will be $300, and you will be able to split it into 2 parts: $310 sale (can also be tied to an invoice if you use this flow), and the -$10 merchant fee expense.

    Thanks for your patience with this.

    We've had some more folks weigh in on their business cases in this thread as well: would welcome you to respond to the latest comment by Dynamo with your accountant expertise.

    edited October 9, 2018
  • Katie_SilkinaKatie_Silkina Guest, Unconfirmed, Applicant, Member, Administrator, Moderator, Employers Posts: 73 admin

    @djana821 wanted to follow up on this thread. Our team released the feature I mentioned on Tuesday ahead of schedule! Take a look at the following article for help on the workflow:

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