How to record Izettle Payment Charges

Question asked by Mike Smith 9 years ago

Unfortunately Clearboocks hasn't integretaed IZettle (Yet).

Just a quick question as to how to record the bank/commission charges they take.

if i charge a client £100 and they pay £100 however 1.25 is taken ow is this recorded. If I don;t record the full amount paid against their bill then it will show outstanding.

Ta Mike

6 Replies

HI Mike

I agree with Chris. I handle iZettle as follows:

  • Create a bank account called iZettle
  • Pay the customer invoices in full to the iZettle account
  • Once the funds hit your bank account (after charges) treat those as a transfer from the iZettle account
  • Create a bill in the name of iZettle at the end of each month for the total charges and pay it using the iZettle account (or do a money out transaction)

Hi Mike,

The easiest way for you to do this would be to create a supplier called IZettle and then, when your customer pays the invoice in full, you can create a bill for the commission charge and set it to bank charges. That way the total of the whole transaction will be the total minus the fee.

Hope that helps,

Chris

HI Mike

I agree with Chris. I handle iZettle as follows:

  • Create a bank account called iZettle
  • Pay the customer invoices in full to the iZettle account
  • Once the funds hit your bank account (after charges) treat those as a transfer from the iZettle account
  • Create a bill in the name of iZettle at the end of each month for the total charges and pay it using the iZettle account (or do a money out transaction)

Thanks guys... Will try and get my head round this.

Hate doing my own accounts..!!! Even with Clearbooks...!!

That's where we come in ;-)

HI - Is iZettle integration still not available? I read the posts from 3 years ago but nothing recent. We need to input our daily sales from iZettle and to be able to record inventory entries. Thoughts? Help?

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