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carolannpea1
May 8, 2024
Question

System-recorded fee for QuickBooks Payments

  • May 8, 2024
  • 1 reply
  • 0 views

I  get this transaction automatically logged as an expense in Quickbooks Online Advanced.

System-recorded fee for QuickBooks Payments - its the merchant charge for a payment made through QBO.

 

QB automatically creates an expense and when it comes into the bank feed it matches to the expense. I need these fees split out and I created a Rule for it. Because QB automatically creates an expense it matches to that instead of using my rule. How do I get the automatic expense to stop and just let it come into the bank feed so it will be assigned to the Rule I created? 

1 reply

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GebelAlainaM
May 8, 2024

Thank you for the detailed information, Carol. It's my pleasure to share some steps to stop the auto-created expense from matching in QuickBooks Online (QBO).

 

QBO automatically records deposits and fees deducted from your QuickBooks Payments transactions. If you want to stop the expense from auto-matching, you can turn off this feature from 

the Categorized or Reviewed tab.

 

Here's how:

 

  1. Go to the Transactions menu and select Bank Transactions.
  2. From the Categorized or Reviewed tab.
  3. Select the Gear icon at the top of the transaction list.
  4. Then, turn the Automatic matching switch Off.

 

To learn more about this feature, check this article: Automatically match QuickBooks Online product transactions. 

 

I'm attaching these articles for future reference in categorizing transactions and reconciling accounts in QBO:

 

 

I've got your back if you have more questions about managing your payments in QBO. Just add your reply in the comment section. Take care.

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carolannpea1Author
May 8, 2024

but that will turn off all my matching for my customer invoices and everything...

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Mark_AG
May 8, 2024

Hello Carol,

 

I appreciate your quick response. Yes, turning off the Automatic Matching will also do the same with your customer invoices and others. In that way, the bank rules you created will take effect after turning it off. Then, you can create other bank rules for your customer invoices and other transactions to automatically categorize in QuickBooks Online.

 

You can only choose either to turn off the Automatic Matching or use QBO bank rules to categorize your bank feeds transactions.

 

After that, you can consider reconciling an account in QuickBooks Online to match your records between your bank and QBO.

 

Let me know if you have any other concerns that need to be addressed. I'm here to ensure your business needs are met. 

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