Monthly Credit Card Processing Fees Vs. each transaction
Is there a way for Stripe to charge the credit card fees monthly (or weekly) instead of automatically taking it out of every transaction? When it's taken out off the top of each transaction it makes my book keeping off because my income appears lower in reports. I'd like to have full income coming in and a separate charge for the fees.
Because they pay out the net amount, that's the number that you should use for your books and then they won't be off. If you're documenting the gross, then yes, it will be off. Either way, you are taxed on the net not the gross. So if you use the net they give you (what's deposited), then it actually saves you a step and you will will only be taxed on what you were actually given and that is your actual income.You don't need to subtract anything at the end of the year because it's already done. If you do it separately then at the end of the year you still have to subtract that as a deduction so your net will still be the same. Basically, if you're documenting the pre-fee number, then that % for fee is essentially ghost money and will be subtracted anyway. Does that make sense? Your income is exactly the same.
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