Please could you help me with this so I know if what I am doing is correct?
I am a bookkeeper in a logistics company and I am factoring with Loves.
Loves deposited $1,096.33 in my checking account because they bought us an invoice for $2,400. They charged us 2% Factoring Fees $48 and deducted $1,255.67 for gas used by my driver.
I created a Bank Deposit with this info in order to match with the deposit in the checking account.
I have created a "credit card" account which is the Loves fuel card that my driver uses and there I register all the gas expenses that he makes, so I know what the gas expense is.
So my question is if the gas discount is really a "payment" to the fuel card, or should I create an expense account called "Fuel Deductions" and put the discount there?
Thank you very much !
