Tips & ideas for using the mgmt software

Handling Fee Deducted From Amount Owed?

Handling Fee Deducted From Amount Owed?

Postby ANTSAUTO1 » Mon May 01, 2017 8:21 am

We do work for a company who use's element fleet management and they charge us a 3% processing fee so when check comes to post payment it is always less than invoice so it always looks like they owe us money. Is there a way to do this so it will not mess up bookkeeping.
ANTSAUTO1
Member
 
Posts: 8
Joined: Tue Jun 02, 2015 6:25 am

Re: FEE'S

Postby GUTHTIRE » Mon May 01, 2017 8:58 am

We have same issue here with ARI - Automotive Resources International. We discount the RO by 3% however, it may not be the best or proper way of handling the issue.
Dan
GUTHTIRE
100 Club: Active Contributor
100 Club: Active Contributor
 
Posts: 153
Joined: Thu Dec 10, 2015 5:19 am
Location: Glenmoore, PA

Re: FEE'S

Postby brianp87 » Mon May 01, 2017 9:30 am

Could you add a line item for + 3% processing fee before finalizing the invoice?
User avatar
brianp87
2.5K Uber Ninja Contributor
2.5K Uber Ninja Contributor
 
Posts: 2962
Joined: Tue Oct 10, 2006 6:11 am
Location: Arizona

Re: FEE'S

Postby ricmorin » Mon May 01, 2017 9:54 am

We set up a payment type to apply against the balance after payment.
Ric Morin - Volunteer Forum Moderator, Shop Owner, ASE Master L1
Motorcar Alternatives, LLC
603-622-6434
https://www.facebook.com/motorcaralternatives

Reality continues to ruin my life.- Calvin
User avatar
ricmorin
5K Holy Smokes Contributor
5K Holy Smokes Contributor
 
Posts: 5214
Joined: Mon Jul 25, 2005 10:11 am
Location: New Hampshire

Re: FEE'S

Postby Rich » Mon May 01, 2017 12:31 pm

We run invoice as the normal invoice. when we receive the direct deposit we take the payment, except instead of "check" or "Visa" we tag it "direct deposit" and post the amount paid, the 3% we make as an "additional payment" and tag that one "write off". At the end of day I break it down in my excel sheet.
Rich Hays
Supporter of Project Semicolon
231-796-0550 work
http://share.garmin.com/RHAYS
User avatar
Rich
3K Time Lord Contributor
3K Time Lord Contributor
 
Posts: 3707
Joined: Tue Sep 06, 2005 10:16 am
Location: Gone hiking.

Re: Handling Fee Deducted From Amount Owed?

Postby sbcauto » Tue May 02, 2017 10:47 am

We Set-Up A new Payment Type Called Discount. The Normal Payment Goes Through; Then A Second Payment To Discount. Hope That Helps.
sbcauto
100 Club: Active Contributor
100 Club: Active Contributor
 
Posts: 135
Joined: Thu Feb 04, 2010 9:08 am

Re: Handling Fee Deducted From Amount Owed?

Postby ANTSAUTO1 » Fri May 12, 2017 11:36 am

I expect full payment for my invoice and when they deduct 3% I'm losing money. Over a year's time it add's up. Why should I show it as a discount when they are already getting fleet rate and the company wont let me add 3% so when they charge 3% it would all even out.
ANTSAUTO1
Member
 
Posts: 8
Joined: Tue Jun 02, 2015 6:25 am

Re: Handling Fee Deducted From Amount Owed?

Postby Rich » Fri May 12, 2017 12:29 pm

ANTSAUTO1 wrote:I expect full payment for my invoice and when they deduct 3% I'm losing money. Over a year's time it add's up. Why should I show it as a discount when they are already getting fleet rate and the company wont let me add 3% so when they charge 3% it would all even out.


We are charged the 3% for direct deposit. If you ask for check it takes weeks to get it.
Rich Hays
Supporter of Project Semicolon
231-796-0550 work
http://share.garmin.com/RHAYS
User avatar
Rich
3K Time Lord Contributor
3K Time Lord Contributor
 
Posts: 3707
Joined: Tue Sep 06, 2005 10:16 am
Location: Gone hiking.

Re: Handling Fee Deducted From Amount Owed?

Postby ricmorin » Fri May 12, 2017 12:49 pm

ANTSAUTO1 wrote:I expect full payment for my invoice and when they deduct 3% I'm losing money. Over a year's time it add's up. Why should I show it as a discount when they are already getting fleet rate and the company wont let me add 3% so when they charge 3% it would all even out.

Fleet rate? Yup. I have a fleet rate.....and it's HIGHER to cover these costs.
Ric Morin - Volunteer Forum Moderator, Shop Owner, ASE Master L1
Motorcar Alternatives, LLC
603-622-6434
https://www.facebook.com/motorcaralternatives

Reality continues to ruin my life.- Calvin
User avatar
ricmorin
5K Holy Smokes Contributor
5K Holy Smokes Contributor
 
Posts: 5214
Joined: Mon Jul 25, 2005 10:11 am
Location: New Hampshire

Re: Handling Fee Deducted From Amount Owed?

Postby brianp87 » Fri May 12, 2017 1:45 pm

I would charge them more to cover the costs and since it takes longer to work around it it would be more then 3% :D
User avatar
brianp87
2.5K Uber Ninja Contributor
2.5K Uber Ninja Contributor
 
Posts: 2962
Joined: Tue Oct 10, 2006 6:11 am
Location: Arizona

Return to Tips & Ideas

Who is online

Users browsing this forum: No registered users and 1 guest