Sales

To handle customer credit card payments

When you accept a credit card as payment for a sale, first perform the following tasks, just as you would for any other sale:

Note:  You can subscribe to the MYOB Merchant Account Service to process credit card payments directly from AccountEdge

  1. Set up an account to track undeposited funds:


    Note:  Choose your undeposited funds account for customer credit card payments and credits

-- or --

  1. Review the list of payment methods (Lists > Sales & Purchases Information > Payment Methods). If necessary, add the payment method(s) for the credit cards you accept as payment for sales. (To add or edit Sales/Purchases Information)


    Note:  Entering payment methods for use with an MYOB Merchant Account
  1. Add a customer card, and enter the selling and payment details for the customer if you want to automatically enter information on sales. (To add a customer card)

    You can also enter the information later when you enter a sale. You'll enter the payment information in the Applied Payment Details window. This window is available when you click the Details button on the sale.


  2. Enter sales and payments. When entering payments, be sure to Group with Undeposited Funds.


Note: If you enter a sale in the Bank Register, the sale must be fully paid; no balance will be due.

    Notes:
    The Bank Register can't be used to enter MYOB Merchant Account Service transactions    .

    If you subscribe to the MYOB Merchant Account Service, you can authorize the payment    .

Additional steps required to process credit card payments.

In addition to the tasks required to process any sale, a few special tasks are required to complete a sale paid for with a credit card:

  1. Deposit your credit card funds to your bank account.


    Note:  If your credit card processor fees are deducted before money is deposited in your bank account
    Depending on your situation, you may want to record deposits once a day, once a week, or once a month. [To record a bank deposit (undeposited funds)]
    If, in the future, you need to review the individual credit card sales or fees included on a bank deposit, open the bank deposit transaction. (To find a transaction)
  1. Assign bank credit card fees. (To record deposit adjustments)


    Depending on your situation, you may want to assign fees for credit card transactions daily, weekly or monthly. (Entering credit card fees)
  1. Reconcile your bank account statement as you normally do. (To reconcile an account) Be sure to:


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