I'm struggling to understand which method to use when allocating the Payfast deduction on our online orders.
I've looked at both the PayFast and the Yoco payments thread and one doesn't made more sense than the other. I've also looked at the "How to record bank fees" and "Record bank charges when receiving payment from the customer" threads and that has just made me more confused.
I have captured the party as their own invoice per online order at the full amount paid on the website, this then gets paid from payfast to our bank account, but they take a fee per party/client as well as 'n small fee when paying out to our bank account - how do I allocate this?
Meaning:
Party 1
Online payment - 500.00
Gross - 500.00
Fee - 50.00
Net - 450.00
I've invoiced for the full 500.00, how do I capture the payment to reflect that this has been paid in full, but that 50.00 of that went to either bank charges or Payfast?
As well as having to pay a charge when paying that out to our bank - would this be a bank charge or do I divide this amount between however many parties I have in that specific batch?
Sorry for the long post - a flu and medicine fueled brain that decided it wasn't working anymore...
