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jeanne05201
Level 2

Bulk Journal Entry for Merchant Fees

Hello,

 

I need to make a bulk journal entry for merchant fees deducted throughout the year.  My merchant makes daily deposits into my bank account MINUS the fees (i.e. client payment of $50.00 - merchant fees of $2.50 = $47.50 deposit).  I now have to record the merchant fees paid throughout the year.  How do I properly do this JE?

Solved
Best answer March 07, 2021

Best Answers
Rustler
Level 15

Bulk Journal Entry for Merchant Fees

debit the fee expense account, credit the bank account

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1 Comment 1
Rustler
Level 15

Bulk Journal Entry for Merchant Fees

debit the fee expense account, credit the bank account

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