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Sevenethics
February 1, 2024
Question

My Bank Reimbursement Records As Income: How To Change This?

  • February 1, 2024
  • 1 reply
  • 0 views

I use TD Bank. They charge $19 per month for their account. If I have over a certain amount, they reimburse this amount to me. Unfortunately, QB records this as Income.  It's not income. How do I organize it so it doesn't show up as such?

 

Thanks!

1 reply

T
Trish_T
February 1, 2024

Hello Sevenethics,

 

Welcome to Community!  Recording your bank fees accurately is essential in keeping your account balanced.  QuickBooks Online provides the ability to record the service fees seamlessly.  I would be glad to assist!

 

When it comes to service charges and processing fees, you'll add the fee to the bank deposit, by following the steps here.  When you need to record the amount reimbursed by your bank, you'll create and Deposit a supplier credit when no expense has occurred.  

 

Please don't hesitate to reach out to your accountant, if you have additional questions or concerns about this process.  They'll be able to provide their expertise and best course of action, so you can record the fees and reimbursement with confidence.  If you don't have an accountant, we can help you locate a ProAdvisor in your area.

 

Feel free to reach out again, with any other questions you may have.  We are always happy to help!

 

 

 

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