Merchant banking costs - ofbiz accounts

[Rees Watkins <ga...@yahoo.co.uk>]

Hi

My merchant banking costs are 4.75% if a web user pays by credit card.
Is there a way to get OFBiz accounts to record this cost to a banking cost ledger if a user pays by credit card?

Thank you
Rees

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Re: Merchant banking costs - ofbiz accounts

[David E Jones <jo...@hotwaxmedia.com>]

You could certainly write something to do this, and possibly even  
configure something to do it (haven't looked into that though...).

Usually you don't know exactly what your gateway and bank fees will be  
because contracts can get complicated and such. The more common  
practice I've seen is to take care of this in reconciliation with your  
bank account. At that point you know exactly how much was captured for  
payments, and exactly how much you actually got credited to you  
account and you can either figure out the difference or look at actual  
transactions in your account to calculate the the bank fees (that  
being the better approach because then you can also calculate the  
difference in order to do a sanity check on it). Some of this  
reconciliation functionality is definitely supported in OFBiz, but I  
don't know how automated it is right now.

-David


On Aug 14, 2008, at 2:38 AM, Rees Watkins wrote:

> Hi
>
> My merchant banking costs are 4.75% if a web user pays by credit card.
> Is there a way to get OFBiz accounts to record this cost to a  
> banking cost ledger if a user pays by credit card?
>
> Thank you
> Rees
>
> Send instant messages to your online friends http://uk.messenger.yahoo.com