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AdamEdw
March 3, 2022
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Credit card payments

  • March 3, 2022
  • 1 reply
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Ok so i maybe feeling a little on the slow side today, but please bare with me!

I now take card payments in my store which is great, so when I sell something in store it goes on QB as a sale...and shows that its paid, however when the card payment comes in a few days later...does it think im getting the income twice??

Also Amazon...When I get payments from them (every 2 weeks) Is that double showing as income?

 

Thanks in advance!

Best answer by emmam6

Hello Community Users! Just wanted to pop in and add some clarification to this thread. When accounting for fees on a transaction, it is a case of in the invoice receiving payment to the undeposited funds chart of account(instead of the bank account) and then using the  bank deposit section(under the +new) to account for the fee and deposit to the bank the remainder. We have included an example here on the best way to record this(which has screenshots to illustrate where to go)  when that process is  followed it  means you can then match the amount received in the banking. Any questions please do not hesitate to reply to this thread with them, we'd be happy to help.

1 reply

Angelyn_T
Angelyn_T
March 3, 2022

Hi, Adam.

 

I appreciate you for sharing your concern here in the Community, and it's my pleasure to know that you're now taking card payments for your sales transactions. I'm here to give you some insights about handling credit card payments in QuickBooks Online (QBO).

 

Once your bank or credit card is connected to QuickBooks and it downloads your payments, you need to match the entries to the existing ones to avoid double income or duplicate records. I'll guide you on how.

 

  1. Sign in to your QBO account.
  2. Click on Banking at the left pane, then go to the Banking page.
  3. Select your bank, then locate the payment from the For Review section.
  4. Tap on Match under the Action column. Or, select the transaction, then select Find Match.
  5. Choose the available match, then follow the on-screen pop-ups to complete the process.

 

For more information, you can open this article: Categorise and match online bank transactions in QuickBooks Online. From there, you can also learn how to categorise your downloaded entries, split transactions between multiple accounts, and exclude duplicate transactions.

 

Once settled, you're now ready to reconcile your account to keep your books in place and match your QuickBooks balance and bank or credit card statement.

 

Let me know if you have any other questions about your income transactions. I'll be right here to provide additional help. Keep safe!

A
AdamEdwAuthor
March 4, 2022

Ok so tried that, what about card fees? There will be a difference between the two payments.

 

Also when I do this for amazon it wont let me save it, comes up with an error telling me the input is too long?

 

Sorry!

E
emmam6Answer
August 11, 2022

Hello Community Users! Just wanted to pop in and add some clarification to this thread. When accounting for fees on a transaction, it is a case of in the invoice receiving payment to the undeposited funds chart of account(instead of the bank account) and then using the  bank deposit section(under the +new) to account for the fee and deposit to the bank the remainder. We have included an example here on the best way to record this(which has screenshots to illustrate where to go)  when that process is  followed it  means you can then match the amount received in the banking. Any questions please do not hesitate to reply to this thread with them, we'd be happy to help.

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