Skip to main content
S
sarahrodriguez0719
October 25, 2022
Question

Credit Crad Fees

  • October 25, 2022
  • 1 reply
  • 0 views

Hello - We are thinking about turning on the pay via CC option (w/ fee) for our invoices that we send to customers (currently we have disabled it). How would this affect our debits and credits at the end of the month? For example - if our A/R has a balance owed to us for $1000 for an invoice but we charge $1035 (the fee included) where would the fee be posted and how would that affect our financials? It wont balance our debits and credits if one side says the customer owes $1000 but we receive $1035.

1 reply

G
Giovann_G
October 25, 2022

Thanks for reaching out to us, Sarah.

 

I know what to do to ensure credit card fee is properly recorded.

 

You can enable credit card payments so customer can pay their invoice with a credit card. However, the option to automatically add the credit card fee to their invoice is unavailable.

 

To do this, you'll have to create a service item for the credit card fee and account it to an expense account. After that, manually include it as a line item on the invoice.

 

Here's how:

 

  1. Go to the Lists menu.
  2. Select Item List.
  3. Click the Item dropdown, then choose New.
  4. Select the Service from the Type dropdown.
  5. Enter your desired name (Example: Credit Card Fee).
  6. In the Account dropdown, choose an Expense account.
  7. Fill in all the necessary information.
  8. Once done, hit OK.

 

Reach out to your accountant if you're unsure which expense account to use. They can give you suggestions to make sure your books are accurate.

 

Furthermore, the credit card fee will also appear in the expense section of the profit and loss report.

 

For your reference, you can read this article for a complete guide to enable credit card payment in QuickBooks: Add, edit, or disable a credit card.

 

I'm also including this resource about sending invoices so customers can pay their invoices online via ACH bank transfer or credit card for future use: Send online invoices in QuickBooks Desktop.

 

You're welcome to post again if you have further questions. We're here to help you.

Terms & ConditionsAccessibility statement