Credit Card Merchant Fees

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.

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.

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