[GNC] Process Payment and convenience fees

[Stephen M. Butler]

On 08/27/2018 05:39 AM, Justin H Haynes wrote:
> It worked just fine.  From the Accounts Payable register, I edited the payment transaction and added two splits - 1 from the Liabilities:Credit Card account to pay the fee, and 1 to the Expenses:Fees.  In the reference field, I left all the “Payment” splits generated by GNUCash alone, and for the 2 I added, I put “Fee” in that field.  
>
> So the payment amount in billing is correct, but I still have the fee recorded in the transaction.
>
> It is probably a good idea not to change the payment split I would guess.
> $

My wife is an accountant so I popped the question to her.  You have a
couple of options according to her:
1.  Include the fee as part of the utility expense.
2.  Create a separate expense account.

Do the latter if you want to keep track of the total expenses through
the fee.  The former if you don't care.  Note that with the first you
won't balance at the end of the year with any YTD totals the utility
company might produce (for reconciling purposes).

As for the implementation of the payment, I'd just add another split for
the fee amount with the expense side going to whichever expense account
you decide making the total out of CC the $603.49.


>> On Aug 26, 2018, at 12:16 PM, Justin H Haynes <justin at justinhaynes.com> wrote:
>>
>> I have two invoices to pay to a utility company.  Let’s say the amounts of the invoices are $200 and $300 for a total of $500.  I have paid $600, so the payment correctly is applied to those two invoices, and $100 to the Accounts Payable account.  I can see the three transactions in Account payable.  Actually 3 splits - 1 for each of the amounts of the 2 invoices, and 1 for the remainder, then on the other side of the transaction the $600 from Liabilities:Credit Card.
>>
>> However, there was a convenience fee charged by the payment processor for the city utilities.  So, the amount charged to my credit card was $603.49. 
>>
>> Will the best way to deal with this be to edit the split from the Liabilities:Credit Card register to add a split for 3.49 to Expenses:Fees?
>>
>>
>> Thanks!,
>>
>> Justin
>>
>>

-- 
Stephen M Butler, PMP, PSM
Stephen.M.Butler51 at gmail.com
kg7je at arrl.net
253-350-0166
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