Skip to main content
arkvalleyinfo
Dec 11, 2018 2:50 AM UTC
Solved

Should I record merchant account charges and fees under "merchant account fees...cost of goods sold" or should I record them under "bank service charges"?

Original commenter did not share additional details
    lynda11_2
    lynda11_2Answer
    Dec 11, 2018 2:50 AM UTC

    For most businesses, they are considered bank fees, which is an expense.  At least that has been the case with the businesses I have worked with over the years.  Here is a good discussion among CPA's on where they should be accounted for:  https://www.proformative.com/questions/accounting-for-merchant-fees




    View in thread

    1 reply

    lynda11_2
    lynda11_2Answer
    Dec 11, 2018 2:50 AM UTC

    For most businesses, they are considered bank fees, which is an expense.  At least that has been the case with the businesses I have worked with over the years.  Here is a good discussion among CPA's on where they should be accounted for:  https://www.proformative.com/questions/accounting-for-merchant-fees




      Terms & ConditionsAccessibility statement