Skip to main content
A
AV Production CO
August 26, 2021
Question

Merchant Services and Desktop Pro

  • August 26, 2021
  • 1 reply
  • 0 views

Utilized Merchant Services for the first time.  I had a client make a credit card payment. I properly imported into QuickBooks desktop, however it recorded receiving the full payment amount.   I imported by bank statement and the deposit was 3.5% less, but I can not match the numbers because the deposit amounts don't match. Any idea how to properly resolve?

 

1 reply

MaryLandT
MaryLandT
August 26, 2021

I'm here to help you match the credit card payment to the invoice, AV Production CO.

 

Recording the full payment is correct. However, you need to put the payment into the Undeposited Funds account to hold the transaction.

 

Once done, make a bank deposit and look the for the full payment. Add a line item for the 3.5% deduction (it could be a fee). 

 

Let me show you how:

 

  1. On the Homepage, select Make Deposits.
  2. On the Make Deposits window, select the account you want to put the deposit into from the Deposit to drop-down.
  3. Check the deposit total. Make sure the account and selected payments match the deposit slip from your bank. 
  4. Enter the date you made the deposit at your bank.
  5. Add line items for the fees
  6. When you're done, click Save & Close.
     

I've added this article for additional information: Record and make bank deposits in QuickBooks Desktop.

 

After recording the deposit, go to the Bank Feeds Center and match the imported deposit to the one you've manually recorded above. Learn more about this process by following this link: Add and match Bank Feed transactions in QuickBooks Desktop.

 

If you need to see past deposits, here are the steps:
 

  1. Go to the Reports menu, then select Report Center.
  2. Select the Banking section.
  3. Find the Deposit Detail report, then select the Run icon.
  4. The report lists all of your recorded bank deposits.
  5. You can select individual deposits to get more details.
     

I'm also adding this article: Recording QuickBooks Payments bank deposits FAQs. It also provides answers to frequently asked questions about payments made from the merchant account.

 

Stay in touch with me if you need anything else with QuickBooks. I'll be around to help you.

Terms & ConditionsAccessibility statement