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    l9888870's Avatar
    l9888870 Posts: 1, Reputation: 1
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    #1

    Jan 29, 2009, 11:30 AM
    How to make a journal entry
    Credit card receipts used to be credited to my bank account and my entry would be - Debit (Bank Account) and Credit (Sales Income). Now my credit card company who is also a vendor of mine is only crediting a portion of the sales to my bank account and the is applied to monies due them.
    codyman144's Avatar
    codyman144 Posts: 544, Reputation: 31
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    #2

    Jan 29, 2009, 11:45 AM
    Quote Originally Posted by l9888870 View Post
    Credit card receipts used to be credited to my bank account and my entry would be - Debit (Bank Account) and Credit (Sales Income). Now my credit card company who is also a vendor of mine is only crediting a portion of the sales to my bank account and the is applied to monies due them.
    Are they deducting for invoices for goods or services for bills they send you in the mail? Or are they simply deducting the credit card fees that they get to keep per your agreement?

    If it is the first (other goods and services but not fees) then I think this is kind of shady :eek:

    Please clearify as this will change the answer.
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