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Lydia25
June 3, 2022
Question

How do I record the service charge and the bank draft amount correctly?

  • June 3, 2022
  • 1 reply
  • 0 views

I recently withdrew an amount from our Savings account and purchased a bank draft (the bank draft was then deposited in our Chequing account).  Both of our accounts are linked in QB online.  The amount in the bank transaction from Savings is the total of the amount of the draft and the service charge for the draft, and is not the same as the amount deposited to Chequing.  So I cannot match them as a "transfer".

How do I account for the service charge and match these transactions?

1 reply

T
Trish_T
June 3, 2022

Hi Lydia25,

 

Welcome to Community!  Matching your transactions in QuickBooks Online can be done seamlessly so your accounts are balanced.  I'll be happy to provide more information so you're on the right track with your QuickBooks goals!

 

When it come to bank or processing fees, you can add it directly from the bank deposit as a line item.  Here's how;

 

1. Select +New from the left menu and then Bank deposit

2. Click on the History icon in the top left and then View more

3. Open the Deposit you need to add the fee to

4. Scroll down to the Add funds to this deposit section

5. Use the Account ▼ dropdown and select Bank Charges

6. Enter the fee as a negative amount

7. Review the total of the deposit with the included bank fee

8. Hit Save and close when finished

Here's a helpful guide for your reference.

 

Please don't hesitate to reach back out if you have any other questions.  We'd be glad to assist!

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