Commission Checks for Invoice Credit Card Sales

Handling commission checks for plastic invoice sales depends on whether you claimed commission on the sale.

If Commission Is Claimed

If commission is claimed on a credit card invoice item with Settle Type Invoice, enter the check from the provider in Bank Deposit and apply it to the open invoice item or on account and apply later in Adjust/Apply Open Items.

In accrual accounting, when you Post Invoices to the general ledger, the commission on an invoice credit card sale posts to Credit Card Commissions Due (usually 1512), an asset account. When you enter the check from the provider and apply it to an invoice item, GlobalWare posts to the bank account and reduces the credit card commission due account.

If you apply a check from the provider for that sale to the general ledger, posting to a revenue account (the default), enter a minus adjustment in Adjust/Apply with offset to the revenue account and apply it to the open invoice in order to remove the credit card commission due.

If No Commission Is Claimed

If you receive a check from the provider and you did not claim commission on a credit card invoice item with Settle Type Invoice, enter the check in Bank Deposit and post to the general ledger, offsetting with a revenue account.

Or you can post the receipt on account, enter a plus adjustment for the provider, offsetting to the appropriate revenue account, and apply the adjustment to the receipt.