How to post Credit Card Receipts Net of Fees

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.

Categories