by Jonnah
(Owensboro KY)
Charging A Credit Card Processing Fee
I have just begun to accept credit card payments on my A/R. I am charging an extra percentage when the credit card payment is processed. I not sure how to account for the extra percentage charge to the customer's credit card.
How should it be recorded? Do I add an income account, i.e. Credit Card Processing Fee? ... and then use that account to create an additional charge to their account?
That doesn't seem right, as I will never receive that Fee. It will only offset the fee I'm charged by the Credit Card Company. Any help would be appreciated.
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