This guide explains how to adjust credit card fees on merchant accounts. It is intended for advanced users.
Credit and debit card processing fees are charged to your bank account daily for American Express and monthly for Visa and Mastercard. You must manually adjust your bank account with a General Journal to account for these fees.
- Navigate from Main Menu > Accounting > General Journal.
- In the menu bar, click New > Journal Entry.
- In the Title field, enter a name for the GJ entry (ex: April Charge Card Fees).
- In the Entry Items section, credit the bank account for the total amount of fees and debit the proper expense account for the same amount.
- Click Save.
- At the confirmation dialog, click Post.
