Adjusting for Credit Card Fees on Merchant Accounts

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.

  1. Navigate to Accounting > General Journal.
  2. At the top of the screen, click New > Journal Entry.
  3. In the Title field, enter a name for the GJ entry (ex: November Charge Card Fees).
  4. 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.
  5. Click Save
  6. At the confirmation dialog, click Post.