Manage Credit Card Merchant Fees |
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There are a couple of ways to deal with merchant fees.
You may need to add a 6-XXXX merchant fee account in the general ledger first. 1.On the debtor's form, enter only what was received into the bank account. This will create a credit. Add a debtor's adjustment down for the fee, using tax code G, and post to the 6-XXXX merchant fee account. Allocate the credit to the outstanding value. or 2.Receive the full payment. Add a cheque entry out of the bank account for the fee and post to the 6-XXXX Merchant Fee account. Reconcile the full payment with the merchant fee in the bank reconciliation.
Further information Apply a Credit Card Charge Using Stock |