Mastering Empress's Additional Charges in Payment Feature

Guides & Tutorials
1

Introduction

Introduction

In the world of business transactions, it’s not uncommon to encounter scenarios where the customer pays the full amount of a Sales Invoice, but a portion of the payment is deducted as a service charge by the payment gateway. This can make your accounting a bit more complex, but don’t worry, Empress has a feature designed to handle such situations.

The feature is called Additional Charges in Payment. It allows you to create a Payment Entry that updates the Sales Invoice as 100% paid, while also accounting for the payment gateway’s service charge. This guide will take you through the steps to utilize this feature effectively.

How the Feature Works

Let’s consider a practical business scenario for a better understanding. You’ve created a Sales Invoice for a total value of USD 177, which includes a base item price of USD 143, and an additional transportation expense of USD 34. The customer pays the full amount through a payment gateway, which deducts USD 7 as a service charge.

The question is, how do you create a Payment Entry that reflects the full amount paid by the customer, while also accommodating the service charge by the payment gateway?

This is where the Additional Charges in Payment feature comes into play.

Steps to Adjust Additional Charges in Payment Entry

  1. Access the Payment Entry: Navigate to the Payment Entry interface on your Empress dashboard.
  2. Enter the Sales Invoice Details: Input the details of the Sales Invoice, including the total value, base item price, and additional transportation expense.
  3. Add the Payment Gateway Charge: Add the service charge applied by the payment gateway. Empress will automatically calculate the amount to be booked as an expense.
  4. Create the Payment Entry: Click on ‘Create’ to finalize the Payment Entry. Your Sales Invoice will now show as 100% paid, and the payment gateway’s service charge will be accounted for.

By following these steps, you can ensure your Sales Invoice is updated as fully paid, while also accommodating any additional service charges. This feature allows for accurate, clear, and easy-to-track financial transactions. It’s important to always verify the details and amounts when making entries to avoid discrepancies.

Conclusion

With the Additional Charges in Payment feature, Empress simplifies the task of managing transactions with additional charges. This enhances your business processes by ensuring financial accuracy and clarity.

For more assistance, feel free to explore our other user-friendly guides and guides designed to help you get the most out of Empress. Happy accounting!