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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

View solution in original post

1 Comment
Rustler
Level 15

Bulk Journal Entry for Merchant Fees

debit the fee expense account, credit the bank account

View solution in original post

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