Depending upon your situation your credit card processor may deduct fees before or after the payment for credit card transactions is deposited into your bank account.
Also, depending upon your situation, your credit card processor may assign fees for credit card transactions daily, weekly or monthly.
If fees are deducted before your credit card processor funds your account
On your bank statement you'll see one amount for each deposit from your credit card processor. Each deposit on your bank statement represents all of your credit card transactions for the period with the credit card processor fee subtracted from it.
To create a transaction in AccountEdge matches the amounts on your bank statement, you'll enter the credit card processor fee(s) using the Bank and Deposit Adjustments window - Deposit Adjustment view. (To open: Click the Deposit Adjustment button in the Prepare Bank Deposit window.) When you record each fee transaction, the fee will appear in the Prepare Bank Deposit window.
Note: If you sort transactions by payment method
When you're ready to record a Prepare Bank Deposit transaction, you'll select all the credit card transactions that are included for the period plus the credit card processor fee(s).
The amount in the Total Deposit field will be the total of your credit card payments minus the credit card processor fee(s); this amount will be the deposit amount that appears on your bank statement.
If fees are deducted after your credit card processor funds your account
To create credit card processor fee transactions in AccountEdge that match the amounts on your bank statement, you can enter the fees when you're ready to reconcile your bank account. You'll enter the fees using the Bank and Deposit Adjustments window - Bank Entry view. (To open: Click the Bank Entry button in the Reconcile Accounts window.) After you record the credit card processor fees transaction, the fees will appear in the Reconcile Accounts window; the transactions will be marked as cleared.
Step by step