[GNC] Small business accounting importing transactions

[Christopher Lam]

The proper way would be to include stripe's cut as part of each sales
transaction.
 Income:Sales -$100
 Expense:Stripe Fees +$1.50
 Asset:Bank +$98.50

The easy way would be to count each sale net of stripe's fees, and the
accountant would use stripe's statements to determine gross sales and
stripe's cut, and verify net sales match your statements.
 Income:Sales -$98.50
 Asset:Bank +$98.50


On Wed, 27 Nov 2019 at 01:48, Robert Slippey <rwslippey at gmail.com> wrote:

> Good evening,
>
> I'm a small business owner and been in business a few years. I'm sick of
> Quickbooks and I'm considering going to GNUCash, mainly to simplify. I
> looked at GNUCash many years ago but never looked too deeply at it.
>
> One consideration I'm concerned about is dealing with processing fees from
> the likes of stripe. I don't have an interest in keeping customer data in
> GNUcash and will only really use it for accounting. Invoices and payments
> are managed by a third party invoicing software (specifically Invoice
> Ninja)
>
> My question is, what best practices for dealing with the processing fees
> exist? I receive the funds in the bank after they've removed the fee and I
> was thinking just imputing a summary transaction in each month of the total
> cost of the months transactions as a simple solution. No need to see any
> further details.
>
> Do you have any further tips for moving over to GNUcash. I'll not I have no
> intention of bringing over previous years, we'll be starting fresh with
> GNUcash at the beginning of the year.
>
> Thanks
>
> Rob
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