SPLIT THIS DEPOSIT : Add Customer / VENDOR on MERCHANT FEE ?

AussieAussieAussieAussie Member Posts: 10

hi, i got a transaction which i need to add a vendor name if i split deposit. How do i do it so it can show up properly on VENDOR EXPENSES Report

For example - story case

  • got a $175 transaction, need to split into 2 deposits
  • split into +$200 ; category SALES; customer Rudy
  • split into -$25 ; category MERCHANT FEE (discount and fees); but how am i going to add VENDOR name here to have it show up properly on report as in VENDOR EXPENSES? In this field, i can only put customer name, even if i put into customer name, this transaction is not showing up in EXPENSES or CUSTOMERS report?

any advise or other work around? Thanks

Comments

  • ConnorMConnorM Member, Administrator Posts: 1,229 admin

    Hey @AussieAussie! Thanks for your context here and for your use case! Within this particular situation, who is your vendor that you want to associate with these merchant fees? The fee itself would be taking into consideration the processing fee for this payment in general, so I'm not sure if I'm following what your workflow here is - I'd love to hear more!

  • AussieAussieAussieAussie Member Posts: 10

    hi @ConnorM
    thanks for your reply.

    For example

    i received a payment from my customer Rudy ($150) via paypal

    assuming paypal charge me $5 fee

    so, on wave transaction, what i do is

    split the transaction of $145 that came into my bank
    +$150 from customer name Rudy (i have option to add customer name in here)
    -$5 for paypal merchant fee (BUT, i do not have option to add VENDOR name here, the only option is to add customer name, which is likely not the case for this)

    Pls try it yourself and you will get what i mean

    How do i add vendor name of Paypal to have the -$5 attached on it via this splitting method?

    edited May 12, 2020
  • JamieDJamieD Administrator Posts: 1,145 admin

    @AussieAussie Thanks for sharing what you're trying to solve using our software. I'm afraid right now there is no way to add a vendor on a transaction that's primarily an income transaction. I can definitely see this being a pain point, as you're likely wanting to track all merchant fees associated with PayPal, but this isn't something we plan on implementing anytime soon. One suggestion I do have is creating a separate merchant fees account specifically for PayPal, and you can adjust the Account Transactions report to track this accordingly.

    edited May 18, 2020
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