10/13/2026
Bookkeeping Tip Tuesday: Don't Forget to Record Payment Processing Fees!
If your business accepts payments through Square, Stripe, PayPal, or other payment processors, record those fees correctly.
If a customer pays $100, you might receive only $97 in your bank account after processing fees.
Here's how it should generally be recorded:
$100 – Sales Revenue
$3 – Payment Processing Fees
$97 – Bank Deposit
If you record only the amount deposited into your bank account, you may understate revenue and miss expenses.
Tip: Review your payment processor reports regularly to ensure you record sales, fees, refunds, and deposits accurately.
Remember, your bank deposits don't always tell the full story of your sales!