PayTraQer - Fees Settings
To access the fee settings, click the settings icon located on the top right corner of the PayTraQer Screen.
Configuration for Fees Settings is common across all the payment channels. For illustration purposes, Stripe settings are shown here. However, the same configurations will be available for Paypal & Square.
Payment Systems & eCommerce Platforms charge fees for processing your payments/sales based on your transaction type or mode.
Set this desired vendor to record the fees properly in Xero.
Recommendation: Try to use the name of the Payment Systems & eCommerce Platforms for better reporting. Ex: PayPal, Stripe or Amazon
2. Category Account
Set the required category account to apply the payment systems (PayPal, Stripe & Square) fees.
3. Fees Bank Account
Select the required Bank Account to apply the payment systems ( PayPal, Stripe & Square) fees.
Recommendation: It is mandatory to use the same Bank account mentioned in Sales Settings.
4. The Inclusive Tax for Fees
Configure the Tax Code to add the inclusive tax for your fees.