Can I subtract a fee from a payment to reflect the actual payment minus the fee?

Yes, you can, lstruckingcfo. I can help you accurately record a payment with a fee deducted from it, in QuickBooks Online (QBO).

Let's begin by putting the invoice payments you want to subtract a fee into the Undeposited Funds account before you record a deposit. Next, combine transactions with a bank deposit.

Here's how:

1. Go to + New.
2. Select Bank Deposit.
3. From the Account dropdown, choose the account you want to put the money into.
4. Select the checkbox for each transaction you want to combine.
5. Make sure the total of the selected transactions matches your deposit slip. Use your deposit slip as a reference.
6. Click Save and close.

Then,  add the fee while you're on the bank deposit window:

1. Scroll down to the Add funds to this deposit section.
2. Enter the fee as a line item.
3. Select who the fee was from (for example, the bank charging you).
4. Select Bank Charges from the Account dropdown.
5. Enter the amount fee as a negative number. (Example: If the fee was US $.50, enter –50)
6. Review the deposit total with the bank fee.
7. Select Save and close or Save and new.

Moreover, you can navigate to the Include bank or processing fees section of this article to learn more about this process: Record and make bank deposits in QBO.

You can also add service fees related to the product or service to your invoices before sending them out. You can do this to new and existing invoices to charge your customers accordingly.

Keeping track of the full amount and the actual amount you received after fees ensures your accounting records accurately reflect the transaction. Drop by this thread again if you have more queries about receiving and recording payments in QuickBooks. I'm determined to help you again.