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Originally Posted by Cirrus
ok from accounting point of view, what is the relation between you (paysite owner) and the processor, how do you declare the wires coming from the processor?
danke :-)
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Income is income. If you are getting wires from a 3rd party biller like CCBill or Paycom the balance of the settled account is what you are wired, so that's income, and must be declared. I think thats what you are asking, but if not let me know and I may be able to get Mark or someone from CCBill or Paycom in here.
I don't think it's any different if you have your own merchant account and do our own payouts. At the end of the day money recieved is still company (or in some cases personal) income, and you will have certain expenses (in this second case affiliate payouts) that will offset your income.