I charge customer a "shipping charge", carrier charges me that total. How do I correctly journal...
As the title mentions, for example:
I charge the customer $100 for shipping on the "shipping charge" box on the invoice.
I receive a UPS bill for $100 that I mark under the postage account in expense.
In the journal, I will see the $100 which will be deducted from Total Operating Income but I also see an expense account for the same $100 and essentially being a double charge.
How do I correct the issue? Should I not be marking the UPS bill under the postage account?
Thank you!
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