Accounting entry for sales via Credit Card
This query is : Resolved
02 June 2017
Dear Sir we have POS terminal and we accept credit cards for sales what will be the accounting entry for this...
Sale Amt 2000
Credit Card Commission @ 2℅
Bank A/c dr 1960
Bank commission dr 40
To sales 2000
is it a correct entry... :-)
02 June 2017
Bank A/c ...........Dr 1960
Bank Charges....Dr 40
To Sales A/c -amt excluding tax
To Vat/Sales Tax
Bank Charges....Dr 40
To Sales A/c -amt excluding tax
To Vat/Sales Tax
05 June 2017
Thank You Sourabh Ji..
07 June 2017
Dear Sir at the time of reconciliation if we find difference in bank charges... what entry should we pass... should we have to pass single entry
07 June 2017
.. for each transaction or we can pass a single entry for total difference... please help
10 June 2017
for any difference better to pass the entries for each transaction so it would be easy to reconcile
However you can also pass a single entry
However you can also pass a single entry
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