How to handle bank fees in reconciliations?
In this case, you'll want to create the invoice with the correct items, quantities, and amounts, approve it, then go to the reconcile screen. When you match the invoice with the corresponding payment, you'll notice that Sunrise will ask you why the two amounts are different. You'll then code that small amount to the bank fee expense category.
Bank Fee Account
If using Sunrise's default Chart of Accounts, the system is already set up to change the bank fees to account 815 - Bank Fees
To use a different account in your Chart of Accounts, you'll need to make a small adjustment to the setup.
- Go to Settings > App Settings
- Look for the Bank synchronization settings section
- Update Bank fee account
What is the fee rate for Sunrise Pay?
What is the fee rate for Sunrise Pay? Written by Success-Team Updated over a week ago The standard rate for Sunrise Pay is 2.9% and 30 cents for credit cards and 1.0% for ACH payments. Other fees may apply, as applicable: $15.00 per chargeback (in ...
A Beginner's Guide to Bank Reconciliation
A Beginner's Guide to Bank Reconciliation Bank Reconciliation Bank reconciliation is the process to ensure that your accounting software and your bank account match (equal) on a specific transaction period (usually a month or a year). The goal of ...
Overdue invoices and late fees
All businesses have customers who do not pay on time. Using this process, reminders can be sent, and late fees imposed if desired. Sometimes it becomes necessary to remind customers they have an outstanding balance in your Accounts Receivable. It may ...
How can I see all my payment transactions and fees paid?
Any payment you receive through Sunrise Pay is tracked from within your payments account. You can access this account at any time. Here's how: Click on Payments and sign in to your merchant account. From the left-hand column, choose Reporting (If on ...
How do I verify my bank with a Sunrise Pay merchant account?
How do I verify my bank account? To verify your account with Sunrise Pay, please log into your merchant account by clicking on "Payments" and logging into WePay's Merchant Portal. Once logged in, click your name at the top of your homepage. From ...