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Level 1

Which account should a restocking fee be in?

When I have to charge a customer a restocking fee on a return should my restocking fee "item" be in the account "merchandise sales" which is an 'income' account; OR in my 'inventory purchase' account which is a 'Cost of goods sold' account; OR in my 'inventory asset' account which is an 'other current asset' account? Thank you for any clarification.

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Best answer 12-10-2018

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Level 7

Which account should a restocking fee be in?

I'd make it a separate income account.

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Highlighted
Level 7

Which account should a restocking fee be in?

I'd make it a separate income account.

View solution in original post

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