Just a sanity check on how to handle something… We have rental log cabins and use a totally separate booking system that collects customer payments .It also calculates tourism tax for the rentals, and sales tax for any upcharge/add-on items. All money is collected by credit card, and deposited into our checking daily. So I just see a deposits hitting our checking account and I need to break those out in Manager for proper accounting.
We do not use Manager to invoice our customers or anything like that. So would it be best to setup a couple Liability accounts, one for sales tax and one for tourism tax, and then break out each deposit accordingly? I figured I would edit each deposit transaction and break it out to Rents Received (positive amount), Merchant Service Fees (expense, negative amount), and then Sales and/or Tourism tax (liability, negative amount). The total transaction then would net out to the amount deposited in our checking.
Does that make sense, or would there be a better way of handling this?