Sage 50 Accounts

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Which nominal code should credit card charges be recorded against?

Posted By Rajeev Arora over 7 years ago

Hello. We currently use a combination of Sagepay, STRIPE and Paypal for taking credit card and debit card payments. I currently record the processing charges against nominal 7901 - Bank Charges, but this doesn't feel right. 7901 is an Overhead nominal code, but I see these charges as some sort of direct expense - I only incur the charge if I make a sale and take a payment. So should these charges go in the Total Purchases group, the Direct Expeses group or somewhere else? Interested to know what other people do. Thanks Raj

Sean White over 7 years ago

Hi Rajeev.

The default nominal code for bank charges in Sage Accounts is 7901. However, if you need this transactions to show within direct expenses, the nominal code range is between 6000 - 6999. If there isn't a code already set up that you would like to use, you can set up a new code by going to nominal codes > new.

If you're still unsure on which code to post them to we advise you speak with your accountant.
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Sage 50 Accounts

Which nominal code should credit card charges be recorded against?

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