We have many customers that do not pay the full amount due because of a bank wire fee or credit card transaction fee (etc.). Right now, I must do a Journal entry for the fee before going to receive the payment. It would be nice to be able to hit an account for the fee in the "Receive Payment" tab so that I do not have to make a separate journal entry.
No question, the Receive Payment features are weak in QBO. It should be able to handle early payment discounts, write off underpayment, write-off doubtful invoices, adjust bank fees and so on. It also should be able to handle invoice payments by multiple methods as well as the deposits to split bank accounts from the same screen.
Needs this feature. It would also be good that we could define an amount for the fee that could be used when doing automatic matches with the bank transactions. The lack of his feature in QBO compares to desktop adds time to processing payments
Lynn Wilson commented
There's a place to apply a discount on the invoice or before receiving the payment (a value or % amount) however, it's applied on the Net before GST amount. It needs to be applied on the Gross amount. That's what my customers do when they pay me. They deduct 2% (for instance) on the Gross for early payment
Judy Sorrenti commented
In customers 'receive payment' also need the option to give discount for prompt payment like the desktop version. Too cumbersome to have to post the payment then go back into each individual invoice and apply the discount individually.
We really need this feature. It was in the desktop and I used it on many invoices. Takes two to three times as long to post a payment in this version as in the desktop version. Time is money and a lot of time is wasted in "work arounds"
Why hasn't this been done?? The Desktop version has this feature and it is a big time saver
Lorien Prince commented
The workaround would be to Receive Payment in full and push the deposit into Undeposited Funds. Then on that Make Deposits screen, select the payment and reduce by the wire fee to net out to the deposit amount that hit the bank. Accomplishes what you want, just in the next step of the process.
Kendra Wolfe commented
Yes!! Would love this. Not sure how to handle this either as we use square and they deduct the fees before the deposit posts to your account.