We have accepted a few payments via the Square reader. They charge a fee percentage off the top.
My question is how do I reconcile that amount, do I do a general journal entry? I am new to the whole Sage 50 program, so any help you can provide would be much appreciated!
I have these 2 transactions to account for so far -
Customer Invoice - $597.45 total
Square deposit to bank account of $576.02
Square fee of $21.43
Square deposit to bank account of $4.87
Paid from company Mastercard (as a test) of $5.00