Entering Sales for Restaurants - Net Sales, Tips, Tax, Fees
wondering if someone could help me understand how to use wave to enter gross sales in wave. We receive deposits into our bank account (from cc sales) that include net sales (income), tips (liability), sales tax (liability), and fees (expense). I tried using the split transaction but it doesn't allow me to enter both sales and liability (though it does allow me to book merchant account fees). Should I be using the journal entry instead?
Here is an example of a daily sales report:
Gross Sales $243.00
Cash Collected $0
CC Collected $316.66
Net Total $307.23