Merchant commissions

Hi, we’ve a customer who pays for their invoice through a merchant we use called iZettle. These, guys take a commission dependent of size of transaction. The issue I have is the sales invoice to the customer is £500, I’ll receive £475 (example) into the bank for that invoice. How do I tag the credit to the invoice as the amounts differ?

Hello @BalPhull

You would have to use a merchant account.

For example

  • Set up a new account in you bank screen for the merchant.
  • Tag the £475 in your bank as a transfer from the new merchant account.
  • Pay the invoice using the new merchant account (£500)
  • Tag the add a new transaction for the merchant account (£25 Money Out)

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The merchant account balance will net off to zero.

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