Topic: Credit Card Takings
I'm trying to set up credit card takings.
Credit card takings at POS: Credit card Takings Bank Account (Dr)
Sales account (Cr)
When merchant services payment is received: Credit Card Takings Bank Account (Cr)
Business Current Bank Account (Dr)
Bank Charges (Dr)
Question is do the Bank account types (Savings, Cash, Credit, Chequing) affect operation? - Or are they just for info. Not sure which fits Credit card Takings Bank Account?
Also is best to setup Quick entry for transactions when merchant services payment received? I have three different terminals and accounts to reconcile, so planned to track these for reconciliation using dimensions?
Anyone else set a similar situation up and can give advice?