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kelper62
March 8, 2023
Question

ABSORB CREDIT CARD PROCESSING FEES

  • March 8, 2023
  • 1 reply
  • 0 views

I am new to accepting credit cards thru Intuit QB.  I have 4 transactions that I have been paid for via credit card.  Since I did not charge a processing fee to the customer, I will have to absorb the fee.  How do I do this?  I have tried adding a line for processing fee, but then invoice amount does not match the deposit amount.  Any suggestions are greatly appreciated.

 

 

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1 reply

S
SarahannC
March 8, 2023

Hello there, kelper62.

 

Instead of adding another line item for the processing fee on the invoice, we can create a bank deposit to record the fee. I'll walk you through on how we can accomplish this in no time.

 

Step 1: Manually receive the full payment:

 

  1. Click the Customers tab, then Receive Payments.
  2. Enter the customer name in the Received From drop-down.
  3. In the Payment Amount field, enter the payment you received from the customer.
  4. Deposit it to the Undeposited Funds account.

 

Step 2: Make a bank deposit to record the fee as negative amount. 

 

  1. The payment you manually receive will generate in the deposit window. Make sure to tick the payment.
  2. Then, add another line item for the service fee. 
  3. Enter the fee as a negative amount.
  4. Click Save and close.

 

Here are some articles that guide you further about depositing payments  and recording fees in QBDT:

 

 

Please be informed that we have removed your attachment since it contains sensitive information. Make sure to cover the important details before posting them here to avoid fraudulent activities.

 

I'm here to help you if you need further assistance with QuickBooks. Feel free to hit that Reply button. Have a good one.

T
tammy84
April 21, 2023

My invoice to the customer was 90.40. He paid the full amount, but Square charged me 3.27 to process. So now I only have a bank deposit in the amount of 87.13. How do I capure the 3.27 in fees to clear his invoice. I applied the 87.13 payment, but that leaves him with an balance due of 3.27. 

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