Posting credit card payments: How to do it right!
Meta description Learn how to post credit card payments correctly, avoid common mistakes, manage balances, and keep your credit card account in good standing. The three biggest challenges when posting credit card payments –. The best solutions for them. credit card payments involve a multitude of challenges for accounting departments. Here are practical solutions to the important ones. **Collective transfers and a lack of transparency** Payment providers generally bundle all the payments made in a day and only transfer an amount (minus the withheld fees). So there is no allocation of individual sales. Additionally the payment providers’ payment reports don’t always contain all the details and an exact breakdown of the fees. **Solutions** Ask your payment providers for payment reports that contain all the specifics of the transactions and the fees. Use split postings in your accounting software. This allows you to divide payments into the individual claims to settle them clea...
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