Best accounting practice for entering finance charges from Square

[naturedr]

I use Quickbooks as I am sure most do.  As my business is small right now, I do my own bookkeeping.  I am finding it tedious dealing with say, a $150 payment from a client-  marking that paid- but the deposit into my bank account is say $145.  Currently I say I am getting $5 cash back and assign it to an account marked merchant fees, to make a year end journal entry.  I have seen some posts on-line but these can be convoluted depending on personal preference, and I do know there are a few options to tabulate this.  Does anyone have anything to share that is super easy?

Thanks!

[Kassi_]

Hey there, @naturedr - 

It's definitely personal preference on how you report the processing fees taken out of your deposits. I would recommend reaching out to Quickbooks too, so you can see what they recommend.