Processor fee gross-up
When a bank deposit is net of fees, the app records the full sale and the fee separately instead of a smaller sale.
In Solo Superstars
Matching a net payout to its invoices books the gross amount to revenue or receivables and the difference to Bank Charges, so your sales figure is what you actually sold.
Example
Deposit 1,164 matched to a 1,200 invoice: revenue stays 1,200, 6010 takes 36, checking gets 1,164.
Codes shown are the defaults a new workspace starts with. Yours may be renamed or renumbered — check Accounting › Chart of accounts. See the full default chart.
Also called
- gross-up
- fee gross-up
Related
- Processor fee — What Stripe, Square or PayPal keep from a card payment. Booked as an expense so revenue stays gross.
- Processor payout — A deposit from Stripe, Square or PayPal that bundles several customer payments minus fees. Matching it empties the clearing account.
- 6010 Bank Charges — Bank service fees, wire fees and card-processing charges. Where Stripe and Square fees land by default.