How to post Credit Card Receipts Net of Fees

Debbie Jackson
Debbie Jackson
Second Anniversary Kudos 1 Name Dropper Participant
in Blackbaud Financial Edge NXT® General Discussions

Hi! Credit card receipts net of transaction fees are deposited into our bank account each week. What is the best way to record this activity? I need the gross revenue recorded with cash and transaction fee expense being the debit side of the entry. Is JE the best way to record this activity? Thanks!

Comments

  • Kevin Brazell
    Kevin Brazell Blackbaud Employee
    Tenth Anniversary Kudos 5 First Reply Name Dropper

    @Debbie Jackson
    I'd say JE is best. You could in theory do a bank adjustment, but you'd have to remember to post that from the bank so the GL acknowledges it. The Je is a bit more straight forward in that respect.

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