Use the Manage AR Payment Types window to add, edit, and delete payment type discounts or surcharges.
Before you can set up payment type discounts or surcharges, you must have existing AR payment types.
When you set up a payment type discount or surcharge, you allow a specific discount or surcharge percentage to be associated with a payment type. You can associate a discount or surcharge percentage with any payment type (Visa, Cash). For example, you may offer a 2% payment type discount for cash payments and charge a 2% surcharge for American Express payments (check that this will not violate your merchant's agreement with your credit card company). A payment type discount or surcharge may act as an incentive for customers to use a specific payment type.
Once discounts or surcharges are set up, they are automatically applied when customers makes a payment; however, you can change or delete them at any time.
Note
Payment Type Discounts are not applicable when accepting a prepayment deposit unless the Prepayment box is checked.
Like payment types, payment type discounts or surcharges are specified for each location in your company. If your company has multiple locations, you can choose to use separate GL accounts for each payment type discount (or surcharge) and location or to choose to use the same GL account for all locations that have the same payment type discounts or surcharges. Payment type discount or surcharge funds are drawn from or posted to the specified GL accounts.
What you'll find:
I want to read the white paper (with lots of screenshots) on Credit Card Surcharges.
You can specify that a specific discount or surcharge be associated with a payment type.
To add a payment type discount
Navigate to Accounts Receivable > Manage > AR Payment Types.
The Manage AR Payment Types window opens.
In the Payment Type list, select the payment type to associate a payment type discount or surcharge with and then click Discounts.
The Edit Payment Type Discount window opens.
In the Discount (%) column, enter the discount or surcharge percentages for the locations that should have a discount or surcharge.
Use a positive value to offer a discount and a negative value to charge the customer.
In the Discount GL Account column, select GL accounts for the locations that have a discount or surcharge.
The payment type discount or surcharge funds are drawn from or posted to the selected GL accounts.
Tip
Click Add Account to add a new GL account.
Note
For locations that do not have a payment type discount or surcharge, leave the Discount (%) and the Discount GL Account column blank.
Check Payment if you want the discount applied ONLY to regular customer payments.
Check Prepayment if you want the discount applied ONLY to prepayment deposits.
Check BOTH if the discount should be applied to both regular payments and to prepayments.
If the discount is negative, the Surcharge Description will display on the payment receipt.
If none is entered, the default of "Convenience Fee" appears on payment receipts that display it.
I want to read the white paper (with lots of screenshots) on Credit Card Surcharges.
Click Save.
You can edit any of your existing payment type discounts or surcharges at any time.
To edit a payment type discount
Navigate to Accounts Receivable > Manage > AR Payment Types.
The Manage AR Payment Types window opens.
In the Payment Type list, select the payment type associated with a payment type discount or surcharge to edit and then click Discounts.
The Edit Payment Type Discount window opens.
In the Discount (%) column, change the discount or surcharge percentages for the locations that have a discount or surcharge.
In the Discount GL Account column, change the GL accounts for the locations that have a discount or surcharge.
Tip
Click Add Account to add a new GL account.
Note
For locations that do not have a payment type discount or surcharge, leave the Discount GL Account column blank.
Click Save.
Deleting payment type discounts or surcharges deletes them from the database and makes them unavailable for any new payments entered into agrē; however, payments that have already had the payment type discount or surcharge applied to them are not affected.
To delete a payment type discount
Navigate to Accounts Receivable > Manage > AR Payment Types.
The Manage AR Payment Types window opens.
In the Payment Type list, select the payment type associated with a payment type discount or surcharge to delete and then click Discounts.
The Edit Payment Type Discount window opens.
In the Discount (%) column, delete the discount or surcharge percentages for the locations that no longer have a discount or surcharge.
In the Discount GL Account column, select the blank row from the top of the list for the locations that no longer have a discount or surcharge.
Click Save.
The payment type discount or surcharge is deleted.