![]() ![]() This allows me to account for all merchant fees for credit card payments processed through Vagaro and Quickbooks sees it as a Merchant fee paid expense and shows the expense on our Profit & Loss reports for accounting purposes. Then I create an expense in Quickbooks out of the "Merchant Fee Payment Account" in the amount of the merchant fees for the deposit. Once the credit card deposit goes into our bank account, I create a Transfer in Quickbooks from the Vagaro Payment Account into the Merchant Fee Payment Account in the amount of the merchant fees shown for the deposit in Vagaro. Second, I've created a "Merchant Fee Payment Account" in our Quickbooks Chart of Accounts as a Bank Checking account. Quickbooks only shows the Vagaro Income Account on Profit & Loss reports. Note, that I do this for all deposits into the bank (checks, cash, credit cards) that are checked out through Vagao so Quickbooks does not count the revenue twice.
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