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Is credit card fee expense a selling or administrative expense?
Wiki User
∙ 14y ago
selling expense.
Wiki User
∙ 14y ago
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When can you deduct expenses paid by credit card?
Presuming it is a deductible expense, they are reportable when paid by the credit card, or any other method.
What is the sale of merchandise by a company on its own credit card that may result in a debit to service charge expense?
credit to interest revenue
Is the merchant Credit card discount rate revenue or expense?
The Credit Card Discount Rate is revenue for the CC Processing company, and an expense for the merchant who submits the credit card. It's nothing to the CC holder. So you use your cc to buy socks online from socksonline.biz. Socksonline.biz uses 10th National Bank to process the transaction. The Discount Rate is paid by socksonline.biz to the 10th National Bank. Therfore, it is revenue for the 10th National Bank and an expense for socksonline.biz.
Which accounting principle requires reporting credit card expense in the same period as its related credit card sale?
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Can I deduct the business expense of credit card purchases?
If you are deducting business expenses it is same whether they are on credit or cash or check. Deduct them with written records of who, what, when, where and why, the same as any other business expense. There must be a valid business reason for the expense. If you charge it in 2008 and don't pay until 2009, it goes in 2008. - HR Block preparer
Which type of expense is a bank charge for credit card fees Administrative or General?
Sales
Are credit card discounts reported as operating expenses on an income statement?
a credit card discount would be a credit, not an expense.
Can an annual credit card fee be a prepaid expense?
yes
When can you deduct expenses paid by credit card?
Presuming it is a deductible expense, they are reportable when paid by the credit card, or any other method.
If you paid off all your old debts over two years ago and have had perfect credit since why has your credit score not gone up yet?
in order to incrase your credit higher, your expense has be higher as well. meaning, if you have a credit card you are not using. then your credit card company doesn't report your credit to credit bureau.. your expense and debt ratio will determine your credit score...
What is the sale of merchandise by a company on its own credit card that may result in a debit to service charge expense?
credit to interest revenue
Would extra payments made on a credit card be an asset liability income or expense?
liability
Can you use a credit card to buy food?
Simply put: NO. Many fast food places have been suspected of copying credit cards and selling the numbers or selling copies of the cards.
Is the merchant Credit card discount rate revenue or expense?
The Credit Card Discount Rate is revenue for the CC Processing company, and an expense for the merchant who submits the credit card. It's nothing to the CC holder. So you use your cc to buy socks online from socksonline.biz. Socksonline.biz uses 10th National Bank to process the transaction. The Discount Rate is paid by socksonline.biz to the 10th National Bank. Therfore, it is revenue for the 10th National Bank and an expense for socksonline.biz.
What is the difference between the merchant credit card service and the more typical cards?
A Merchant credit card cater to those in retail, those selling on the internet, service providers, and those that are new to business. A typical credit card is basically for anyone that meets the credit status.
When selling stuff on amazoncouk does the money still get transferred if you have a debit card rather than a credit card?
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Can you buy Minecraft without a credit card?
no. some people might be selling them though for money.
