Credit Card Merchant Fees

[EDJos]

New user to QF.
In Chart of Accounts:

Where do we tag monthly Credit Card Merchant fees? We have an account with First Data.

I don’t see an account for that nor do I see an account for credit card fees paid on sales?
Can you help and if I need to create new, under which zone in Chart of Accounts should these go in?

To my mind, the first is a fixed amount per month (similar to Bank account fees) , the second is a cost of sales amount.

Thanks.

[rhc]

Hi EDJos,
You can, of course, open and new account in the 790x area, to keep it close to the other bank fees accounts, which already exist in quickfile; 7901 Bank Charges, 7905 Credit charges. I personally would use the two existing ones but it is up to you.