DESKTOP EDITION CLOUD EDITION SERVER EDITION GUIDES FORUM

Banking Fees Taken Out Prior to Deposits


#1

We have a credit card company that takes their fees out prior to depositing in our checking account.

For Example:
We bill/charge a client $311.31. The credit card company takes $30.82 of that and deposits $280.49.
We have several of these transactions that occur daily and are deposited a few days later.

I am importing the checking account statement into Manager. So, how do I account for the $30.82 in fees that were paid with out changing my checking account total to insure that my checking reconciles.

Thank you!


#2

You can split received money such as the first line item will represent gross income. And then second line item should be negative amount representing the fee so the total is the net amount received in the bank.


#3

Awesome! Makes perfect sense! Thank you!