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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

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



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