What account do you assign Shipping to when you shipped an order online and you have received payment for the shipping and handling charge? Is this an expense or income account?
I have sold a product online and charged a shipping fee. When I create the invoice and the last line item is the shipping fee, I am not sure what account to assign this to. Is this an income or an expense? I, of course, have initially received this shipping fee from the customer, then I pay it out to the shipper when the order ships.