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HyperIT
May 3, 2022
Solved

Invoice payments from Stripe and bank transfer

  • May 3, 2022
  • 1 reply
  • 0 views

Hi,

 

I have had a customer pay for an invoice by bank transfer (linked to my Quickbooks) and also Stripe (not linked) as Stripe take a fee this means the total amount is out and won't match the invoice. Is there anyway to fix this?

Best answer by EmmaM

Hello HyperIT, Here is how to account for fees in Quickbooks, this will close the invoice as fully paid and also enable you to match the amount deposited in the bank with the fees deducted.

 

To account for fees, follow the below instructions:

 

1. Create the invoice for the full amount (fees included, say £500)
2. Receive payment to Undeposited funds (full amount)
3. Plus sign > Bank deposit
4. Tick the invoice on the top part
5. On the bottom where it says Add deposit, choose the same customer
6. Choose an expense account (say Fees)
7. Enter the amount as a minus figure (say -15)
8. Now the deposit should be for £485 which is the amount they've received, and £15 should be on the fees account as the fee (edited)

 

1 reply

A
Ashleigh1
May 3, 2022

Hello HyperIT, 

 

Welcome to the Community page,

 

When you use the find match option you will resolve the difference by minuing of the stripe fee and posting it to stripe fees in the chart of account this will then bring the invoice amount down to what has been paid, also the invoice is better being marked as unpaid. 

H
HyperITAuthor
May 12, 2022

Thanks for the reply but it still does not make sense to me!

E
EmmaMAnswer
May 12, 2022

Hello HyperIT, Here is how to account for fees in Quickbooks, this will close the invoice as fully paid and also enable you to match the amount deposited in the bank with the fees deducted.

 

To account for fees, follow the below instructions:

 

1. Create the invoice for the full amount (fees included, say £500)
2. Receive payment to Undeposited funds (full amount)
3. Plus sign > Bank deposit
4. Tick the invoice on the top part
5. On the bottom where it says Add deposit, choose the same customer
6. Choose an expense account (say Fees)
7. Enter the amount as a minus figure (say -15)
8. Now the deposit should be for £485 which is the amount they've received, and £15 should be on the fees account as the fee (edited)

 

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