HOW TO CAPTURE A INVOICE PAYMENT WITH ADVERTISING FEE TAKEN OUT

Welcome to the Community, @RECEIVING. With the updated QuickBooks Interface, you will no longer make deductions for your advertising fee in the Receive Payment window. Instead, these deductions could be made in the Bank Deposit window. I'll walk you through the steps to handle this correctly.

When you record the payment, make sure to post it to the Undeposited Funds account. This account serves as a temporary holding space in QuickBooks for all payments until you actually deposit those payments into your actual bank.

With this setup, you have the ability to group multiple payments together and deposit them collectively by creating a Bank Deposit in QuickBooks. This approach can significantly streamline both your banking and record-keeping tasks. Let me guide you through the process.

1. Click + New.
2. Under the Other, Select Bank Deposit.
3. In the Account section, Select your customer.
4. Select your customer's invoice.
5. Under the Add funds to this deposit, link the advertising expense account.
6. Enter the expense amount as a negative.
7. Click the dropdown beside Save and New, then hit Save and close.

If you need assistance with putting payments into the Undeposited Funds account when you're ready to combine them, you can refer to the article: Deposit payments into the Undeposited Funds account in QuickBooks Online.

Additionally, you can run a Deposit Detail report to view your deposits, including the date, customer or vendor, and amount.

You may also want to explore QuickBooks Live Bookkeeping, which can help streamline your accounting processes, ensure the accuracy of your financial records, and provide expert support, allowing you to focus more on growing your business.

Please feel free to reach out if you have any questions or require further clarification on managing your Expense account for advertising fee. We are here to help you. Stay safe!