Need Billing / Quickbooks / 2Checkout Advice

[kenb]

Hi all

I'll try to explain the problems I am having in the clearest way possible

My business is located in ON Canada so we charge tax to ON, and different rates to other provices in Canada. To US clients we charge no tax.

 

I just signed up for a 2Checkout payment gateway, and was pleased with how easy it was to sign-up and set up. Now the headaches are beginning

 

I set up a domain transfer, into my Enom account, the transfer worked beautifully, and the customer paid using 2Checkout. When I checked my 2Checkout account, this is what I see

 

Customer charged $22.54 CAD (this matches WHMCS)

In my 2Checkout account I see 18.47 USD (20.79 USD - 1.28 USD 2Checkout Fees - 1.04 2Checkout "Held for 90 days"

I'm told when I transfer this to my bank account I can again, convert this to CAD at the days current exchange rate.

 

In Quickbooks I was planning to make an entry every month for the payments I collected via credit cards. However, if I run the Sales Tax Liability report in WHMCS at the end of the month, it in no way matches what I collected from 2Checkout, because, 2Checkout takes their slice of money, off each and every payment, instead of sending me a bill at the end of the month, PLUS the CAD > USD > CAD conversion.

 

This leaves me begging the question, how other hosters do accounting? If 2Checkout would at least deposit an amount into my bank account that matches the original invoice, I could weed out the US customers (who I don't need to charge tax to) and make 2 entires in Quickbooks, (one for Ontario customers, and another for US customers)

 

The way it is now, I have absolutely NO way to verify that I'm keeping track of tax properly in Quickbooks, unless I'm overlooking something . . . again, I'm a we1b hoster, not an accountant, but it needs to be simpler than this!

 

Do I need to find a different marchant acocunt? One that processes in CAD, and deposits the full amount into my bank? If so, who is a good choice?

[kenb]

bump . . .