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Ameikle
September 27, 2024
Question

Gocardless fee taken before I receive payment and invoice not balancing

  • September 27, 2024
  • 1 reply
  • 0 views

I use gocardless to collect payments, this month is the first time they have charged me (which is fine). 

I created and sent an invoice to my customer for £207.08 which they paid in full via go careless, gocardless took their £2.72 fee and transferred me £204.36. 

my quickbooks now shows an underpayment on that invoice of £2.72, how do I correct this to show it being fully paid by my customer? 

Many thanks 

1 reply

S
ShyMae
September 27, 2024

Thank you for the detailed information. I can show you how to correct and record these transactions, Ameikle.

 

In your case, we can record the total invoice payment. Make sure you post it in the Undeposited Funds. See the attached screenshot for visual reference.
 

 

Then, we can create a bank deposit, entering the fee as a negative amount. This process will ensure that your invoice will not show an underpayment and will be marked as fully paid.

 

Here's how you can do it:
 

  1. Click +New. Press Bank Deposit. 
  2. Select the correct bank on the Account dropdown. 
  3. Head to Select the payments included in this deposit section and tick the invoice payment.
  4. Hover to the Add funds to this deposit area. Choose your customer on the Received from column. 
  5. Choose an Account. Refer to your accountant if necessary. 
  6. Input the fee as a negative amount. Hit Save and close.

Please see the attached screenshot for a visual guide.
 



Once the bank transaction is available in the For Review tab, we can match it with the bank deposit we created for accuracy. See the sample screenshot below.



You may be interested in learning more about managing your invoices and transactions in QuickBooks Online. Check out these articles for more information:
 

I'm here to assist you every step of the way, so tell me how it goes after following the steps above. I hope everything goes well, Ameikle.

A
AmeikleAuthor
September 27, 2024

Thank you for your quick and detailed response. 

When I open a new bank deposit, it does not have the option to select payment to include in this deposit? 
any idea how to fix that? 

thanks 

P
payment after leaving
September 27, 2024

Hi Ameikle The first thing that you would need to do is amend the invoice payment that you have created, this should be for the full amount and instead of being allocated to your bank account it should be allocated to the undeposited funds account. When you then create the bank deposit the invoice will be listed, select/tick the box that corresponds with the invoice, ensure that the date of the bank deposit matches the date you received the amount into your bank account and the correct bank account is selected, in the account column of the 'add funds to this deposit' section add the GoCardless fees/expense account and enter the amount as a negative, save and you will then be able to match the net amount to the amount received on your banking page. We included an article that references the above steps: https://and in the account column of the add funds to this deposit section add the fees/expense account and enter the amount as a negative, save and they will then be able to match the net amount to the amount received  https://intuit.me/3Sz1lij

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