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shannonl-quality
November 24, 2022
Question

If other payment software takes a fee for processing payment how do I account for that fee in QBO?

  • November 24, 2022
  • 1 reply
  • 0 views
invoice amount is 6242.33 and jobber takes a fee of 168.84 so the amount that is deposited in the bank feed is 6073.49. But I need to account for that jobber fee by reconciling the  amount. It's easy to do from the bank feed but I need to know how to reconcile while "receiving payment" directly to the invoice. How do I do that?

1 reply

A
Alex M
November 24, 2022

Hi there shannonl-quality,

 

it's vital that all your transactions are correctly entered so that your books can be well balanced. QuickBooks online is a great tool able to help you keep track of your transactions to see the sales and expenses made by your company. I can point you in the right direction for entering fees for transactions processed with a third-party merchant service.

 

In order to have these fees entered, you'd need to send the payment of the invoice to the undeposited funds account, then create a deposit, where you can add the fees as a negative amount. The steps are further expanded on in this article.

 

If you have any other questions, feel free to reach out here.

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