Apply Finance Fee for Credit Card Payments

When selling on GEM-CAR, it is possible to assign financing fees for credit card payments.

ATTENTION: before configuring your GEM-CAR, make sure that in your state, province or country, this option is valid within the law, as each location has a specific law that must be respected. The configuration of this finance charge is the responsibility of each customer and may vary according to your location and local law. In Canada, we have the following link with more information: Merchant surcharges, service and convenience fees, and discounts.

1) Create a New Category in the Inventory

In the left-hand menu, go to Inventory > Categories > +Add.

In the window that opens, you must enter the following data:

• Code (make sure it is unique)
• Name (Finance Fees)
• Chart account for sales (4995 - Administration Fee Revenues)
• Chart account for purchases (5001 - Purchase Parts)

Click Save.

2) Create a Product

Go to the left-hand menu and click on Inventory > Products and Services > +Add.

In the window that opens, you must enter the following data:

• Code (FF)
• Name (Finance Fee)
• Category (55 - Finance Fee)

Make sure that the code is unique in the list of products and services. Click Save.

3) After saving, in the same window, click on the Sales tab to set the amount of the financial charges.

Enter the desired amount in the Regular selling price box. Then click Save.

4) Click on the Point of Sale

Create an estimate, then add the job: FF Finance Fee once you have confirmed that the client will pay by credit card. 

The estimate and invoice will show the finance fee.

5) It is possible to not show the financing fees on the estimate and/or invoice:

Click on Inventory > Products and Services.

• Use the search bar and type FF.
• Go to the Options tab.
• Check or uncheck the “Display on invoice” and “Display on quote” boxes.

Click Save.