Credit Card Fees should be reflected as a cost on profit tracker
We shouldn't have to add up all of the credit card fees and manually add them as a cost. Actual Revenue is not correct, and this messes us up a lot when calculating remaining balance due on jobs.
Also, under financials > payments I want to see a spot that says cc fee so that I don't have to open up the invoice, copy and paste the fee, then manually add it to see how much the customer actually paid towards their bill, credit card processing fees do not count towards their job total.
Lacey G
shared this idea
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Thank you for letting me know I don’t properly explain this issue. For more context our salesmen are paid commission as a percentage of the profit per job. We pass the cc fees to the customer so for example a 50,000 job shows a revenue of roughly $65,000. The fees are then paid to the processor before ever reaching our bank so we create a separate line item to cancel them out. I understand you are saying this isn’t a per job cost but I am specifically talking about the profit tracker which has nothing to do with our quickbooks. A sales rep should not be paid extra on a job simply because a customer paid via credit card instead of a paper check. It may not seem like a big deal but if half of the invoices are paid via credit card on a 10 million dollar business that’s $150,000 (a whole salesman, or 2 admins worth of yearly salary) we would be paying out in commission that we have never received. The only way to see the amount or credit card fees a customer paid on a job is to open up each individual invoice and make a note. Some jobs have 10+ individual invoices so this has become truly a nightmare to properly track.
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Christine EK commented
Cc fees are generally treated as a business expense not a cost of goods that would be applied to a specific project. They should not affect profit on individual jobs.