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tracyn
January 4, 2022
Question

Check cashing at third party (A1 check cashing store). How to record?

  • January 4, 2022
  • 1 reply
  • 0 views

Hi, We are construction contractor. My husband need to cash the check that received from the customer at the Check cashing Store. We need the cash to pay our subcontractor since the bank will hold the check for 10 days until the fund available. So, how I record that check into QuickBooks (Quickbook desktop premier)? We have to pay 1% of the check for cashing fee.

Thanks so much

1 reply

S
SarahannC
January 4, 2022

Hello there, @tracyn.

 

I'd be glad to walk you through recording the transactions coming from the Check cashing store within your company file.

 

You can utilize Receive Payments to record the check received from the customer. Here's how:

 

  1. Go to the Customers menu and select Receive Payments.
  2. Select the customer from the Received From ▼dropdown.
  3. In the transactions section, select the checkbox next to the invoice you want to apply the payment to. This should be the invoice you already sent them. If you haven't created one, you can follow this article: Create an invoice in QuickBooks Desktop.
  4. Select the correct payment method. Once done, select Save & Close.

 

Then, you can record a check and make sure to use a Cash as payment method. 

 

To record the cashing fee, you can create an expense to record  it in your book.

 

Please let me know if you have other questions. Take care and stay safe, tracyn.

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