There are already several topics on this, but I can’t find a conclusive answer to my question/situation.
Suppose I sell something to a private person for £10 on a webshop.
Seven days later, Mollie transfers the amount to my account (£9, given £1 transaction costs).Should €9 be added to the daily receipts on the date of receipt, and the invoice from mollie (€1) be entered as an expense? Doesn’t this mean that I have recorded a profit of €8 instead of €9?
Dear MJ,
You charge your customer €10. So you include €10 in your daily receipts.
The €1 transaction fee is an expense for you, so you include it in your expenses. You record this using a document you receive from Mollie.
This is the only correct way to record your income and expenses, giving you the correct profit of €9.
Kind regards,
Your Dexxter Expert
You really should try it out for yourself. Even if you don’t have a company number yet, you can already go ahead.
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