Processing of payments of invoices by payments cards

If the company enables to pay by payment card of any kind for invoices to its customers, during receiving the payment a problem occurs from an operator of the payment cards. This payment is summary per a certain set of particular payments. Its amount does not equal to a sum of the payments per these invoices whereas it is reduced by the amount per the provisions of the payment cards operators. It is needed to pair this payment with the particular cash vouchers paying invoices with the payment method Payment card which are stated on a detailed listing from an operator of the payment cards. Further you have to determine an amount of commissions, to disconnect these commissions from the payment and to book all these movements.

Payment of invoice "Payment card"

During the sale by the payment method Payment card the process is similar as at the sale with the Cash payment method with it an invoice will be paid by a cash register set up for the registration of the payments Payment card and which will has got an account as analytics of the receivables (summary account 31) and it will mean "Claims for payment card operators".

Example: We would like to enable to customers to pay by a payment card in retail. Thus we set up a cash register 'PC' - Payments by card. All the invoices with the payment method Payment card will be paid by this cash register. The cash register will have the „311100 - Claims for payment card operators“ account which you set up for this purpose. The balance in the cash voucher will exceed a total sum which was paid by the payment cards and it will be still increase.

Picture: The cash register 'PC' - Payments by card

Picture: Example of invoice paid by cash register 'PC' - Payments by card

Tip for users: For better orientation and filtering is competitive to establish one cash register for every operator of the receiving payment card and to establish one record in the  Payment method code list, for example: „EC/MC“, „VISA“ etc.

Match payments made by credit card

Payment from payment card providers is a bank statement item, which represents the total payments by payments card for a certain period reduced by a commission.

Based on the detailed statement of each payment that is available for the bank statement item, the operator will create a cash vouchers filter that will match the detailed statement.

Example: Filter of cash vouchers, which corresponding to a detailed statement of payments to a bank statement item, has been created. The sum of amounts the cash vouchers in the filter is 12,124.40 GBP.

Picture: Filter of cash vouchers corresponding to a detailed statement of payments to a bank statement item

Tip for user: The cash vouchers filter can be created by creating an invoice filter according to the detailed list of the bank statement item and then creating a cash vouchers filter (Actions>Container>Create other container - Cash vouchers ...).

The payment item from the payment card provider is Receipt type, and the account on the item is determined in the same way as cash register account for payment cards , in example "311100 - Receivables from payment card providers".

Picture: Start the Match payments made by credit card function - in change mode of bank statement on the payment item of the payment card provider. For example, only this item was in the statement.

In the bank statement in change mode, the function Match payment made by credit card will be started on this item. The function can be run from the tree menu Finance - Functions. The function adds a note to each cash voucher from the filter, in which will be a link to bank statement with payment from the payment card provider. The link will tell you that the card payment is already matched with a bank statement. At the same time, the function creates two items in the bank statement, the amount of which corresponds to the difference between the sum of the cash vouchers items from the filter and the amount of the matched item of bank statement. This will calculate the commission of the payment card company. One item will be type of Payment and the second type Receipt, which will ensure the final financial neutrality of these items on the bank statement. The account Receivable for a payment card providers will be added to  the receipt item (for example, account 311100, from the function parameter Ucet_Prijmu). The account Other financial costs will be assigned to the payment item (account analyst 568, for example, account 568000, from function parameter Ucet_Vydeje). These three items will be accounted for by 'O' - General.

Example: After you run the function Match payments made by credit card there is appear the question "Are you sure you want to match the bank statement item VS: 2001588769 - Payment of provider payment card with amount: 11,942.53 GBP?“. Note the difference between the sum of the cash register filter - 12,124.40 GBP and the amount of the bank statement item 11,942.53 GBP. This difference represents the commission of a payment cards operator.

Picture: Bank statement after creating two items. There is a difference between the sum of the cash vouchers and the amount of the bank statement item

Picture: Example of a cash voucher with a type of note 'PK'. There is an information about matching with the bank statement item

Demonstration posting example

Item:	Amount:	Posting:
Invoice out IO		account 311000
Paid by a cash voucher CV		account 311100
IO:		311000 / 604000
		311000 / 343200
CV:		311100 / 311000 => balance 311000 = 0
Item of bank statement (receipt)	11,942.53	account 311100
Filter of cash vouchers - sum	12,124.40
Created item of bank statement (receipt)	181.87	account 311100
Created item of bank statement (payment)	181.87	account 568000
	12,124.40	221000 / 311100 => balance 311100 = 0
	181.87	568000 / 221000 = > other financial costs (commission)

Technical solution

Function for matching payments made by credit card is placed under the keyword Finance with name Match payments made by credit card (PARPLKAR.PAS). It can be activated from the tree menu Finance - Functions - Match "payments by credit card".

Function parameter list:

CostCentre	Cost centre which will be added into a bank statement items.
Ucet_Prijmu	Account for a new created item - receipt on the bank statement. The default value is "311000".
Ucet_Vydeje	Account for a new created item - payment on the bank statement. The default value is "568000".