Helcim reconciliation

When Helcim deposits your funds into your bank account, it is net of any fees that they take. For example: if you charged $100, they may only be depositing $98 to your bank.

When Benji Pays processes your payments, we process the entire invoice amount plus the surcharge amount, and apply that payment to the invoice and the surcharge is applied to the surcharge revenue account you have selected. The full amount of the charge will be in your undeposited funds or whichever account you have chosen in your payment gateway settings.

For example:  You have a $100 invoice and the credit card was charged for $103.00. The invoice is marked as paid and $100 goes to the invoice and $3 gets applied to your surcharge revenue account and the $103 gets applied to Undeposited funds or whichever account you have chosen in your payment gateway to balance the transaction.

In this case you may only be receiving $10x.xx into the bank account after the Helcim fees.

Unfortunately Helcim does not provide us a way of getting the fee amount or the amount they actually deposit via their API, so we can't record that amount for you. Because of this you will need to either calculate that amount as the difference between what was charged to your customer's cards and what was deposited for that day.  Alternatively, you should have a report in Helcim showing your deposits and the breakdown of fees.

Once you have that amount, when you are creating your bank deposit, or using the match functionality in your bank feed, you can record the fee expense to balance the deposit to the payments in your undeposited funds account.

Check out this video, it shows a couple of ways to do a reconciliation in QuickBooks, and near the very end it talks about how you would record the fees.

Helcim reconciliation