How do people deal with the fact - bg - have a startup that i am throwing money into - completely separate from main business interests - because i'm unsure of the market up-take i am avoiding going the full banking route for it for this time - so using one of these pre-pay cards/accounts for vendors etc.
Thing is for example 167$ bill vendor charge is charged as 175$
On the accounting side i'm recording the PDF(s) and the costs in a ledger.
But unsure how usually is the best practice for handling these sorts of things where the card provider marks up transactions both onboarding funds and spending.
How do others track/explain this?
Also personal note - first time i've done this for a startup - seems a expensive way to get a company off the ground (likely stops innovation etc).
Thing is for example 167$ bill vendor charge is charged as 175$
On the accounting side i'm recording the PDF(s) and the costs in a ledger.
But unsure how usually is the best practice for handling these sorts of things where the card provider marks up transactions both onboarding funds and spending.
How do others track/explain this?
Also personal note - first time i've done this for a startup - seems a expensive way to get a company off the ground (likely stops innovation etc).