United States United Kingdom Australia Canada (English) Canada (French) France Singapore South Africa Global Ireland
cancel
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for 
Search instead for 
Did you mean: 
mddrodrigues
Level 1
posted
‎March 17, 2022 04:44 PM
last updated ‎March 17, 2022 4:44 PM

Merchant Fees

Hello.

Should I record merchant account charges and fees under "merchant account fees... the cost of goods sold" or should I record them under "bank service charges"?

Thank you!

 
Reply Join the conversation
2 Comments 2
Rustler
Level 15
‎March 18, 2022 03:50 AM

Merchant Fees

They are merchant fees expense, and are not cost of goods

 

A merchant fee has nothing to do with the cost of what you sell, which is what COGS is all about

Reply Join the conversation
mddrodrigues
Level 1
‎March 18, 2022 07:28 AM

Merchant Fees

Hi! Thank you for your reply. Can I add to details type as a bank fee?

Reply Join the conversation
Featured
Top 5- Payments
Hello Community! We are back with another Top 5, but this time around we wi...
Read more
Quick Help with QuickBooks: Troubleshooting Issues when Moving from Desktop to Online
It's that time of year when many customers are looking into making the move...
Read more
Ask Me Anything with Product Manager, Connie
Join us for another Ask Me Anything coming up on Friday, May 24th at 10am P...
Read more

Need to get in touch?

Contact us