Thank you so much for helping in the Community, @dansharrow ! You provided a prompt and helpful answer, and we love to see our Community Members working together.
You were absolutely correct in your response! Our team has prepared in-depth documentation of this process that we would like to share in addition to your reply.
Recording Credit Card Fees associated with a Client’s Paid Invoice can be easy with Striven!
To start, we recommend having an Expense account created to hold the fee amounts to be paid. You can find more information on creating GL accounts here.
Using this approach for tracking Credit Card Fees ensures that all fees are recorded promptly during the payment and deposit process, eliminating the opportunity for any charges to be overlooked.
First, you will need to receive the Payment for the related Invoice by clicking the green Receive Payment button on the top right corner of the Invoice page.
This will bring you to the Add Payment Info page, where you can input the details of the Payment you received. Once finished, click the Save button at the bottom of the page.
Once the Payment has been recorded, navigate to the Deposits page by clicking Accounting > Banking > Deposits from the navigation bar at the top of your screen.
On the Deposits page, click the blue Add button.
To generate a Deposit for the Credit Card Payment amount, you should select the Payment received for the Invoice by marking the checkbox beside the corresponding transaction in the Add Undeposited Items window that appears.
You can filter the Undeposited Funds shown in this window by searching for a specific Payment Method, Transaction Date Range, or a specific Customer using the search fields at the top of the Add Undeposited Funds window.
Once the correct Payment has been selected, you can click the Add to Deposit button at the bottom of the window.
After the Undeposited Funds have been added, click on the Manual Items tab. This is where you will record the Credit Card Fee associated with the Payment.
On the Manual Items tab, choose your Expense Account created for fees from the GL Account drop-down field. You can add a brief description of the fee in the Memo field and then add the fee amount into the Amount field. The fee amount will need to be a negative number to ensure that it is designated to the proper account and not deposited with the Payment. Then click Save & Close.
Once saved, the fee is recorded to the Expense Account, and removed from the deposited amount.
You can view all of the recorded fees by viewing the designated Expense Account from the Chart of Accounts page.
If you have any questions or need additional assistance regarding Fees or Payments, our Support Team is always happy to help!