How to categorize Stripe verification fees
mtclc
Member Posts: 5
In my Waveapps accounting, there are 2 transactions to categorize for the 1 cent verification charge that occurs when one signs up for a Stripe account.
.01 out of my checking
.01 into my checking
I tried to categorize this as "Merchant account fees" and was able to do this for the debit. But then when I went to categorize the credit under the came category, it was not possible.
How would you advise I handle this type of categorization?
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@mtclc,
I would put both under bank fees. One (in black) categorize as normal and the one in green (Refund of an expense) as a refund of bank fees.
I tried this (Bank Service Charges). The problem is that Waveapps doesn't allow me to enter it in as a credit, only as a debit.
mtclc,
If the transactions went through your bank account and is importing, one transaction should be in black and one in green. Is this not the case?
Yes, that is the case.
Waveapps does not allow me to assign the Bank Service Charges to both transactions. Only to the minus one.
That is the only reason I started this thread.
Please see the original post.
I understand. Use the drop down to categorize the deposit. Choose Refund of Expense (4th option down) then select bank charges.
That did work. Thank you!!