Adjusting for credit card fees

Credit and debit card processing fees are charged to your bank account daily for American Express and monthly for Visa and Mastercard. You will need to manually adjust your bank account with a General Journal to account for the fees.

To process a journal entry, follow the steps below.

  1. Navigate to the General Journal module. From the main menu: Accounting > General Journal.
  2. Click New at the top of the screen.
  3. Enter a title for the GJ entry. In our example we used May Charge Card Fees.

  4. In the Entry Items section credit the bank account for the total amount of fees and debit the proper expense account for the same amount.
  5. When finished, click Save. When the confirmation dialog appears, click Post.



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