![]() But the problem I'm running into is what when I go to apply payments to the vendor invoice it's just not working correctly. And that shows the QP Reserve Asset Account as an accumulating positive balance. So I had to enter the inital line item as $1425 and the QP Fee of $75 as both a positive number in order for it to match the vendor invoice. But what I discovered is that if I try to show it as a negative in the create bill window it was also showing up as negative balance in the new holding asset account. I then set up an asset holding account to transfer the entire QP Fee into when I create the bill. So what I have set up so far is that the vendor invoices are entered via Bills and Vendors - create bill tab. That 3.5% fee that I collect as part of the service fee is held and distributed to me at the end of each month. So the vendor will be paid a NET of $1425. Of which 3.5% goes to me and 1.5% goes to the third party company. So as a service fee to the vendor we charge them 5% for that. Vendor invoice is $1500 - but they request to be paid within 48hrs instead of Net 30. But of course 3rd party company only pays $1425 and retains 1.5% of the QP Fee when they send the ACH payment. So I entered the amount of the invoice showing the QP Fee as part of the invoice EX $1425 line item and $75 for QP fee = $1500 total. Which meant that I wouldn't be able to transfer out of it at the end of the month. But I realized that if I entered the QP Fee as a subtraction from the vendor invoice that it was showing up in the QP Reserve account as a negative balance. So what I did was set up a QuickPay reserve asset account to hold those fees until they are distributed at the end of each month. So I need to track it as an income to myself as well as a fee to the 3rd party company. All of my vendor payments are managed by a 3rd party company and that fee income that is deducted from the vendor invoice is split between us. On some of these vendor invoices there are Service Fees that are subtracted if the vendor chose to be paid "QuickPay" (cost of paying their invoice before Net 30). I have entered my vendor invoices and now I need to apply payments. This guarantee may be modified or discontinued at any time.I'm using Quicken Home & Biz. ![]() ![]() Certain payments are not covered by this guarantee. ![]() You must contact us and provide the information necessary in order for us to review and provide reimbursement as applicable. We will reimburse you for any fees associated with a check payment that settles prior to the date you selected in Online Bill Pay. If a mistake is made by the Online Bill Pay Service, resulting in a late payment, we may also bear the responsibility for your direct losses or damages. ![]() Should a payment post to your account with the biller after the date that it was scheduled, we will bear the responsibility for late payment fees and interest charges accrued between the scheduled date and the date when the bill is paid. As long as your payment is scheduled in accordance with the guidelines described in the Online Bill Pay Service section of the Online Banking Service Agreement, we will reimburse you for any applicable fees charged if the payment settles earlier or later than the date you select. ![]()
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