I’ve just started using the Revolut banking feed to pull data from my Revolut business account.
But for a foreign-currency card payment transaction (in this case a EUR from a GBP account) I’ve discovered that only the actual merchant payment (in GBP after conversion from EUR) is transferred over in the feed.
Specifically, the currency exchange fee is not included in the amount sent over to QF, nor is it sent as a separate entry (regardless of whether I choose “Separate fees from transactions” in the feed settings).
Therefore, the account balance in QF doesn’t match that in Revolut, without putting in a separate manual adjustment in QF.
Is this normal for these feeds? Is there any way for QF to get the fee amount from Revolut, either as part of the overall amount, or separately? I asked Revolut and they gave the impression that what they’re sending from their side is perfectly normal (and unlikely to change).
This kinda relates to my question here… if the entries pulled over from Revolut don’t include the fee anyway, I don’t need to do any “splitting” in a separate dummy account… I assume that I just add a fee entry into the Revolut account itself?
Just to double check here, am I correct in thinking that you have the split option switched on, and a fee is split out, but not the currency conversion fee? Is that right?
@QFMathew thanks for the reply. By “split option” do you mean the “Separate fees from transactions” in the feed settings? If so, this was initially disabled (which seems to be the default), and that was in place this morning when the feed pulled in this transaction. I then enabled the “separate fees” option in the feed and refreshed the feed, but still no separate fee came through… just the basic amount paid to the merchant.
In fact, deleting the transaction and then refreshing the feed with that option enabled doesn’t result in anything coming through.
Hmm, scrap that. I only refreshed from today’s date, but the transaction is dated yesterday. When I refresh from yesterday (with the above “separate fees” option enabled) I do indeed get the basic amount and also the separate fee.
So that’s good. I can deal with that now. But is it normal/correct to get only the basic amount (without fee included) when the “separate fees” option is disabled (the default)?
Glad to hear you managed to resolve this
Not sure what you mean with this, sorry? Do you mean is it normal for the fee to be split from the main transaction?
I mean that, when the “separate fees” option is disabled (which is the default), I only get the actual amount paid to the merchant from the feed (excluding the fee), and I also do not get a separate fee entry… hence the balance on the account in QF ends up different to the balance on the actual account. Shouldn’t the transaction coming through in the feed, in this mode, be a combined/total amount (merchant payment + fee)… is that a problem on their side of the feed or yours?
Also, isn’t enabling this “separate fees” option a more convenient way of handling the situation in my linked question (as I suggested here)… rather than bothering with dummy/splitting accounts… i.e. just split the transaction automatically as part of the import feed so that you can tag them separately right away? Possibly in this case I have no choice but to have splitting in the feed itself, rather than afterwards.
@QFMathew just wondering if this is something that can be addressed, or whether I need to move forward on the basis that the Revolut feed will only work properly with “separate fees” enabled in QF… and I just tag the split transaction directly in the Revolut account?
The choice is yours. If you prefer to have the fees separated from the transaction itself, then enabling the split would be the best choice. This would allow you to account for them separately if you wish.
As long as the toggle is “on”, then you will see the 2 transactions in your feed.
Thanks, @QFMathew. Another part of my query was whether the feed from Revolut is defective in some sense, or whether QF is not reading it correctly, because when “separate fees” is disabled, a single transaction comes through but it doesn’t include the fee as part of the overall amount… so at the moment I don’t have that choice really.
The fee is not included (when not enabled) because a lot of people enter the fee once a month (or week) as a big lump sum. Hope that makes sense.
@rhc that makes sense. Out of interest, is that how all feeds are treated, or does it depend on what the bank itself decides to put into the feed (some send the total, some send only the amount excluding fee)?
It really depends on the bank/card provider/payment provider
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