What is credit card commission in SAP SBO - SAP Business One?

SAP Term: credit card commission

• Component: SBO

• Component Name: SAP Business One

• Description: The fee charged by a credit card company or bank to use their credit card.

Smart SAP Assistant

• Key Concepts: 
  Credit card commission is a fee charged by a credit card company for processing payments made with a credit card. This fee is typically a percentage of the total amount of the transaction. In SAP Business One (SBO), credit card commission is an expense account that is used to track the cost of processing credit card payments. 
  
  How to use it: 
  In SBO, credit card commission is tracked in the Accounts Payable module. When a payment is made with a credit card, the amount of the commission should be entered into the Credit Card Commission account. This will ensure that the cost of processing credit card payments is accurately tracked and reported. 
  
  Tips & Tricks: 
  When entering credit card commission into SBO, it is important to ensure that the correct account is used. The Credit Card Commission account should be used for all payments made with a credit card, regardless of whether the payment was made online or in person. 
  
  Related Information: 
  In SBO, credit card commission can be tracked in conjunction with other expenses such as shipping and handling fees. This will allow for more accurate reporting of expenses related to processing payments made with a credit card. Additionally, tracking credit card commission in SBO can help businesses identify areas where they can reduce costs associated with processing payments made with a credit card.