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Info4Lori
January 18, 2025
Question

Closing out bank fee's on an invoice but still able to get a report for those bank fee's at year end.

  • January 18, 2025
  • 1 reply
  • 0 views

I used desk top prior and if a customer paid via credit card, there was a box that asked what to do with the remainder that was owed (the amount of the fee's for CC use). Once I selected "write off" instead of leave as balance due it would allow me to continue closing out the invoice. Once I was done another box showed up at the top asking what this amount should be categorized as an I would select "bank fee's"

Simple, quick and easy to track. Now that I'm on-line I have several invoices that won't clear out due to the fee's. I need help with this. Thanks much

1 reply

S
SheandL
January 18, 2025

Hi there, Info4Lor. To close out your invoices completely, you'll need to manually receive payment for the invoice and deposit it in your bank including the bank fees. I'm here to help you accomplish this process.

 

Firstly, we'll have to record the complete invoice payment in QuickBooks to ensure it is marked as paid. To do this, please follow the steps below:

 

  1. Open your QuickBooks account.
  2. Head to the + New button, then select Receive payment.
  3. From the Customer dropdown, choose the name of the customer.
  4. In the Payment method dropdown, pick the payment method.
  5. Select the Payments to deposit or Undeposited Funds, from the Deposit to dropdown.
  6. Tick the checkbox for the invoice you're recording the payment on in the Outstanding Transactions section.
  7. Click Save and close.

 

Once done, let's add the bank fees in a negative amount from the Bank deposit section. To do this, please follow the steps below:

 

  1. Go to + New, then Bank deposit.
  2. In the Account dropdown, choose the account where the funds are to be deposited.
  3. Find the transaction from the Select the payment included in this deposit, then tick the checkbox the checkbox for the transaction.
  4. In the Add funds to this deposit section, add an expense account in the Account column.
  5. From the Amount column, add the exact amount of the processing fees and make sure it is negative.
  6. Once done, Save and new or Save and close.

 

Here's a screenshot for your reference:

 

 

For reference, please see this article: Record and make bank deposits in QuickBooks Online.

 

Also, improve your financial management using our QuickBooks Live Expert Assisted team. Known for their expertise in simplifying finances and offering personalized advice, our experts are just a few clicks away. They are ready to help you achieve financial clarity and stability.

 

Moreover, if you want to get a quick overview of your business performance in QuickBooks, here's an article you can check: Run a report in QuickBooks Online

 

Don't hesitate to reply to this post if you need further help managing your invoices in QuickBooks Online, Info4Lori. I'll be glad to help you out anytime.

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