I'm a small business owner doing some DIY book keeping and had a question regarding the account on which I should register card authorization payments and refunds. I tend to use a bunch of US-based online services that insist on making small debits from my current account and then refunding them.
My initial choice was just to make them an expense and refund them, but thinking it through it should probably be am asset account. Correct?
Do people tend to use a catch-all account for these? Maybe in the 6xx range if using Xero or similar?