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TGiTA
September 14, 2020
Question

Quickbooks Payments Fees

  • September 14, 2020
  • 1 reply
  • 0 views

Hi!

We are currently using Quickbooks Payments for our invoices and I want to make sure our fees are being categorized properly. Like bank fees, are they also exempt from HST? Or is HST included them?

Thank you!

1 reply

N
Nick K
September 14, 2020

Hi TGiTA,

 

Being able to track your fees to the right accounts is crucial in the world of bookkeeping and QuickBooks Online makes it easy to keep track. I can help go over this information with you.

 

When using the payments service for QuickBooks Online you'll be charged a fee for the transaction. This fee is not taxed and is entered into your QuickBooks account automatically so no need to manually enter it.

 

Any fees outside of the payment add on I suggest reaching out to an accountant as they are trained on how to enter these and whether to assign taxes or not. If you don't have an accountant don't worry, we have your back. You can go to our find an accountant page to find one in your area.

 

Have a great day!

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