Quickpay fee

[ohiomike08]

How would the QuickPay fee be listed in Quickbooks (or any other bookkeeping system)? Is it considered a loss?

 

[Greg]

Any business fees paid are a loss, and tax deductible

 

[ohiomike08]

I thought it would be, but I just wanted to make sure.

 

[xmudman]

I'd call fees paid an expense rather than a loss, but Greg is correct.