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February 6, 2022
Question

Is there a way to make the the transaction fee show up in QuickBooks that square charges

  • February 6, 2022
  • 1 reply
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1 reply

February 6, 2022

Hello, tyler-tylersbeer. 

 

Thank you for taking the time posting in the Community. You can create a service item and name it into "Square Fee's" in your QuickBooks Online account and link that item to an expense account. So, once you enter an invoice transactions from the square, you can include the square fee's in the item line.

 

Let me walk you through the steps on how to create an item. Here's how:

 

  1. Click the Gear icon, then select Products and Services.
  2. Click the New button, and choose the Service option.
  3. Name the item (Square Fee's), and enter the SKU's (Optional).
  4. From the Category field, select the category that best describes the service. Learn more about the item category.
  5. Click the I sell this product/service to my customer to remove the income account on the item.
  6. Put a checkmark in the box beside the I purchase this product/service from a vendor.
  7. Add the description.
  8. Enter the Cost of the service (Square fee's).
  9. Click the Expense account dropdown arrow, and select the account that fits your service item.
  10. On the Preferred Vendor field, enter the Square system as a vendor.
  11. Tap Save and Close.

For more detailed information, you can read this article: Add product and service items to QuickBooks Online.

 

Once done, you can use the Sales by Product/ Service report to track the service item. Just customize the report to pull up the specific statement you want to show. 

 

Let me know if you need anything else. I'll be right here to work with you again. Stay safe!