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I think some of application hurdles inherent in setting up a merchant account have to do with the fact that you are handling other people's credit cards, and the potential for malfeasance exists.


Yes, that and they are holding their billing until end of month and relying that the funds will be there to pay the fees.

That's what I have been working how to record the payment when Square deducts the fee from the deposit. I have to credit my customer's account with the full amount.

Cash in bank debit reduced amount
A/R credit full amount
CC Discounts credit discount amount

That works. I was working on it at our store and couldn't get it to work with our accounting program. I was making it too hard.
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