Technical Tip
This option is only enabled for certain GL interfaces, e.g. DEBTBANK, and depends on the options chosen on the Debtors screen – see "Edit - Debtors".
Customers make payments in many different ways. Where credit cards are accepted for customer payments, there are credit card accounts that reduce the amount you receive by a commission or fee payable to the credit card company. Micronet allows these amounts to be setup and calculated automatically when a particular payment type is specified in the Debtor Payments program.
You use this option to setup your GL interface (integration table) for MDS transactions involving credit card fees so that financial data is transferred automatically to the correct accounts in MGL.
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Technical Tip This option is only enabled for certain GL interfaces, e.g. DEBTBANK, and depends on the options chosen on the Debtors screen – see "Edit - Debtors". |
To setup your GL interface for transactions involving credit card fees:
Refer to "Adding a New GL Interface Record" or "Updating a GL Interface Record".
Micronet displays the GL Credit Card Fees screen.
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Field |
Value |
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Merchant Fee |
Enter the GL account representing the actual fee or commission that is paid to credit card companies on receipt of a customer payment by credit card. The transaction generated reduces the total of the customer payment deposited to the bank by the fee or commission amount. Micronet pays the total amount of the customer invoice, transfers the net amount to the bank and posts the fee or commission amount paid to this GL account. For example, you might enter a Sales Adjustments account, a Cost of Sales account or an Expense account depending on how you would like to treat these costs. |
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Technical Tip The two fields next to each field on this screen are for entry of T1 and T2 accounts. If your company uses T accounts to flag transactions for GL reporting, enter the default T1 account for the GL account in the first field and the default T2 account for the GL account in the second field. You can also press spacebar then Enter to select these T accounts. For more information about T accounts, see "T Accounts". |
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Credit Card Surcharge |
Enter the GL account that captures the exclusive value of surcharges collected on debtor (customer) payments made by credit cards. |
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Finance Fee |
Enter the GL account that captures the exclusive value of finance fees reducing debtor (customer) payments received from finance companies. |
Micronet redisplays the Change GL Interface screen.