We had our first online sales from our website ffor $413.65. When website was set up there was an error inputting the proper bank account. In quickbooks it posted the $413.65 as a deposit but the bank charged us a fee of $12.30 for rerouting the transaction and the deposit to the actual bank account iw only $401.35. How do I make the adjustment in Quickbooks? Do I just change the amount of the sale to match the actual deposit? I'm thinking I need to show the $12.30 as an expense to bank charges but not sure how to do this.
I now find out that everytime an online purchase is made the processing fee of 2.9% comes right off the top of the sale. This will happen to every online purchase. Just so I am clear, I would accept the full amount of the sale into Quickbooks and then enter the processing fee as an EFT and put it under the expense of bank fees? Sorry but I am learning as I go along.