10 Jun Credit Card Payment Commissions
Odoo Credit Card Payment Commissions Features
1-This Odoo Credit Card Integration enables to deduct commissions for the Online Payment Provider from each payment done.
2-Calculate commissions based on fixed cost per transaction, percentage on transaction or both.
3-Automatically deduct commission from payment and add debit to the online payment provider account.
4-Support multi-currency.
Checkout below step-by-step guide:
Process:
-Configuration: Setup journal of type Bank
- Commissions tab is shown when the journal type is “Bank”.
- Provider Account is specified per each journal.
- The commision fees can be added fixed cost per transaction, percentage on transaction or both.
- If multi-currency is enabled, the currency of commision fixed fees can be selected.
-Receive Payments:
- Upon registering a payment of type “receive money” the commision amount will be debited to the provider account.
-Journal Entries: Bank Journal with undefined payment provider account.
-Journal Entries: Bank Journal with defined payment provider account but with fees and percentage = 0.
-Journal Entries: Bank journal with defined payment provider account, fixed fees = 0.3$ and percentage = 0.
-Journal Entries: Bank journal with defined payment provider account, fixed fees = 3$ and percentage = 2%.
- Credit account journal item = 1000$ – (0.3$ + 0.02 * 1000$) = 1000$ – 20.3$ = 979.7$
- Commission item = 0.3$ + 0.02 * 1000$ = 20.3$
