Q&A

Accepting Credit Cards via Square

We are accepting credit card payments via Square for membership dues and other fundraisers. Should I report the Receipts as gross with a corresponding Disbursement line in the budget to show the Square fees?
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Hi, there -- you've got it! The gross receipts should be recorded in the Income section; then in your Expenses or Disbursements section, you could add a line for "transaction fees" and include the Square fees there. (You could also roll it up into a broader "PTO Operations" line item if your budget outline is simpler.)
- lharac
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