When I process a card payment received from a customer on my PDQ machine then this will show up as a receipt on my bank account a few days later. How do I process this. I have to post this as a payment received to the customers account presumably but does this automatically post as an entry to the bank account as well ?
Hi DerekC,
When you receive a payment (you sold something) you create an invoice in quickfile. It depends on the PDQ machine you use, you have may also the option to transfer this to quickfile via API. In quickfile, in your bank account section you should have a merchant account for your point of sale provider (square, sumup, worldpay etc.). It depends on the provider you use but you could may have a feed between your point of sale provider and quickfile. If you don’t use the feed then you have to enter the sale manually in this merchant account. If you have to pay a fee per transaction/month/year to the provider - enter this amount as an out entry and create an purchase invoice. When the payment provider pays you your earned money to your bank account enter this transaction in your bank account in quickfile (or use the auto feed) and tag this transaction as an transfer between bank account and choose your payment provider merchant account in quickfile.
More info can be found here: Handling payments from merchant accounts