Yes, the credit card business is a very serious business.
I am an Indian Merchant,having credit card details from Customers.How do I charge them?
Yes .
Businesses are free to add a surcharge for purchases made by credit or debit cards.
Technically it's unethical to charge more to customers who don't pay in cash, but it cost money for a business to accept credit cards and some small companies charge a credit card fee to compensate losses.
Gas stations charge more for credit card transactions because they have to pay fees to the credit card companies for processing the transactions. This extra cost is passed on to customers who choose to pay with a credit card.
It's a basic process in which one gives the company their credit card information and depending on the type of plan you get, they charge you monthly.
No, credit card charges are not deductible for a cash basis taxpayer because they are considered expenses when the payment is made, not when the charge is incurred.
It depends on the country and bank. It is called the Prime Lending Rate or PLR. PLR is the rate of interest banks charge their most credit worthy customers. It is usually 0.5 to 1% less than the rate charged for regular customers
Expenses are a debit transaction.
Sure, as long as the fees apply to all customers, not just those using credit cards. In other words, you may raise your marked prices to cover your credit card costs, but you cannot change the price according to how the customer offers to pay.
A corporate credit card is a credit card made just for a business. It is extremely useful to a business owner to keep personal and business expenses seperate. It will also give the business a useful tool to allow the employee to charge expenses with the card rather than have to submit reimbursement requests.
No. They are both assets. "Accounts Receivable" represents money owed to the business by their credit customers. "Prepaid expenses" represents money spent on goods and services that have not yet been received. Some examples of prepaid expenses are insurance, rent, and legal fees.