One method that gives you control over your credit card receipts is to create a clearing account as a Bank Account in Big Business to which you deposit the full amount of each Receive Money. As these funds are captured and deposited in batches you can transfer to the appropriate Bank Account the net amount of the deposit.
Issues such as discounts, processing fees, any delay imposed by your merchant service, and so on, can be easily managed. Since in effect you maintain an "account" with your merchant service, the ability to reconcile this account may benefit you. (3191)
Receiving Money (6467)
Entering Customer and Payment Information (6468)
Applying Payments to Invoices (6469)
To Receive Money from a Customer (6470)
Viewing Payment Posting Information (6471)
Receiving Miscellaneous Payments (6472)
This solution offers one option for processing credit card receipts on which transaction charges are immediately applied and only the net amount is deposited to you bank account. This solution assumes that you do not use Customer Discounts Allowed in their normal capacity (i.e. giving Customers a discount for paying their invoices early, such as 2% 10 Net 30 Terms, which are due in 30 days but offer a 2% discount for payment within 10 days). See the Solutions linked below for other options
Many credit card processing services assess their charges per transaction. When you process a credit card, the discount and transaction fees are immediately applied and only the net amount is deposited to your bank account. In order for your Bank Account to accurately reflect the deposit amount, use the Discount to make the Receive Money transaction the net amount of the transaction. By setting the Default Discounts Allowed Category to your Category for credit card processing expenses (and not using it for regular Discounts) and using the option to create Receive Money transactions you can apply credit card payments easily. See other Solutions linked below for ideas on how to track credit card information for processing your captures (with online software or a terminal) in batches. (3190)
To Receive a Miscellaneous Payment (6473)
Unapplied Receive Money transactions can result in a Customer Statement with a 0.00 zero-dollar balance, indicating that they have "open" Invoices and offsetting Receive Money payments which have not been applied to their Invoices. (3167)