Sumit Potbhare

Microsoft Dynamics AX for Retail

Setup Card Fee in Microsoft Dynamics AX for Retail 2012 R3

Due to recent regulatory policy in few countries, Visa and MasterCard resulted in a settlement that allows merchants to start charging their customers a fee for using credit cards — commonly referred to as merchant surcharges or checkout fees. Credit card processing fees are extensive, complicated, and somewhat overwhelming. Nevertheless, you have to pay them if you want to process credit cards through your business.

Credit cards accepted through the Retail channels may require that the Retailer to have the current POS system to have the ability for accepting the credit card fee directly from the Card at the time of payment. Microsoft Dynamics AX 2012 has the out of box feature to configure the Credit card fees for the Credit card payments at POS.

Lets go through a step by step approach towards configuring the card fee in Retail-

Setup Card fee

Once you have setup a Retail store and the card payment methods to it. Go to Retail >> Retail Store >> Action pane >> Setup tab >> Payment methods >> Select the Card payment method >> Card type.

Card1Now select the card type for which you have to deduct the card fee during POS transaction. Now in the Card fee field group enter the details –

Card fee percent The percentage of sales that the card provider charges. This amount is sometimes referred to as the merchant fee.
Card inquiry fee The fee that is charged for balance inquiries.
Card fee maximum The maximum card fee that can be charged.
Card fee minimum The minimum card fee that can be charged.
Card fee account The general ledger account to which the amount of the card fee is posted.
Account name The name of the account that is selected in the Card fee account field.
Card fee offset account The general ledger account to which the offset for the card fee is posted.
Account name The name of the account that is selected in the Card fee offset account field.

The value setup in card fee percent will be deducted at the time of card payment at POS. After the sales transaction has been done on POS and pulled at AX side, proceed with the statement posting. The statement postings actually post the card fee to the respective ledger accounts setup under Card fee in the card types form.

Card Inquiry fee is actually the value in amount that the merchant wants to deduct each time the credit card transaction is done. This is a flat amount that is charged for every transaction.

The payment journal postings of the Card fee can be seen from the “Posted statements” inquiry form under Retail >> Inquiries.

CardFee

Feel free to reach out for any clarifications. If you like my blog posts then comment and subscribe to the blogs.

Enjoy RetailDAXing.

Disclaimer: The information in the weblog is provided “AS IS”; with no warranties, and confers no rights. All blog entries and editorial comments are the opinions of the author.
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