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hello this is jessica fox from florida virtual bookkeeper and today i want to answer a frequently asked question and that is how to record deposits when your menstrual processor deducts their fees before they transfer your money this is common with processors such as stripe square we pay there are many others where you may charge a hundred dollars towards the client but only 96 dollars in change make it to your bank account this is because they are deducting their fee before they then posted the money into your bank if you have been recording the deposits as they come in from the bank feed then your books are inaccurate this is especially a big issue if you had recorded the invoice in your accounting software and then the deposit is not going to match as a full payment and your records can look like your client is owing you money when that is not the case so i want to show you two primary ways on how you can make sure that your books are accurate because if you get a 1099k from your m
