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AllyTires
February 12, 2023
Question

Matching Bank transactions that are a different amount

  • February 12, 2023
  • 1 reply
  • 0 views

I entered in a sales receipt for the full amount charged to the Customer.  They paid by debit.  The card processing company I use, deducts their own fees from from each transaction before depositing the funds into my bank so none of my entries can be matched.  Is there a way to enter a sales receipt so I can match these or should these be done by Journal entry?

1 reply

T
Trish_T
February 13, 2023

Hi AllyTires,

 

I appreciate you reaching out to Community.  Welcome!  QuickBooks Online provides the ability to record the bank fees, so you can match your transactions seamlessly.  I'd be glad to help!

 

To successfully account for bank fees, you'll need to set up an expense account.  Here's how;

 

1. Go to Settings ⚙ and select Chart of accounts (Take me there)

2. Select New

3. Use the ▼ dropdown menu to select Expense for the Account Type 

4. Choose Bank charges for the Detail Type 

5. Enter a Name 

6. Hit Save and Close.

 

Now that you have an expense account for bank fees, follow these steps to resolve the difference when matching transactions from your bank feed:

 

1. Go to Transactions, then Banking (Take me there)

2. Select the tile for the bank account with the transaction

3. Locate and select the relevant transaction in the For review tab

4. Click on  Find match in the Action column

5. In the Match transactions window, select the appropriate transaction

6. Click on Resolve to open Add resolving transactions

7. From the Category dropdown, select the Bank fees expense account you created

8. Enter the Amount of the bank fee

9. Select the applicable Sales Tax

10. Hit Save.

Your transaction is now matched and the bank fees are accounted for.

 

Please don't hesitate to reach back out with other questions.  We're always glad to assist!

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