On 4/12/2019 1:28 AM, Andres Aviles wrote: > Hello all - > > This is my first post. So far I love GnuCash ! > > I run a small business and accept credit/debit cards using the Square > app. They take out the fees before they deposit the money received. I > have imported my credit union statements which includes the deposits > made by Square. But how do I account for these fees in GnuCash that > Square takes out before the deposit ? I'm using version 3.5.1 right > now. > > Thanks. > > Andy A. > [email protected] > "Try to be a rainbow in someone's cloud" Maya Angelou > Words to live by - > * Love has no gender, love has no race, love has no disability and love > has no age > * Forget the bad, and focus on the good. > * Love the people who treat you right, pray for the ones who don't. > * Life is too short to be anything but happy. > * Falling down is a part of life. Getting back up is living. > * Forget yesterday - it has already forgotten you. > * Don't sweat tomorrow - you h > _______________________________________________ > gnucash-user mailing list > [email protected] > To update your subscription preferences or to unsubscribe: > https://lists.gnucash.org/mailman/listinfo/gnucash-user > If you are using Nabble or Gmane, please see > https://wiki.gnucash.org/wiki/Mailing_Lists for more information. > ----- > Please remember to CC this list on all your replies. > You can do this by using Reply-To-List or Reply-All. > . > You'll have to pardon me if I get tongue twisted. I'm operating on a 72 hour straight crunch time on taxes.
The fees are just an expense of doing business, unless you are charging your client a swipe fee (that can get messy real quick). In its very simplest form, just create an expense account (Business_expense:SQfees). The fees will almost always go from your bank account to theirs (funny how you never get to bill them for your time swiping the card). It gets a little trickier if you need to tie the fees to an exact purchase/return. That will require a split transaction (using the same accounts), which you will more than likely have to do manually. If you use a tax preparer then I would ask them how they would like it set up. Especially since those fees are possibly a legitimate deductible expense on your taxes depending on your pricing structure. -- --JEffrey Black M.B.A. _______________________________________________ gnucash-user mailing list [email protected] To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
