Skip to main content
Mar 22, 2024 10:32 AM UTC
Question

Hi all - How do I cope with card payment fees deducted from a Sales Receipt ? e.g. sales receipt £4.12, fees £0.07, amount received into bank £4.05

I have no control over how sales are recorded. Some are invoiced and some are (correctly) recorded as Sales Receipts.

1 reply

Mar 22, 2024 1:13 PM UTC

Hi KathySB, thanks for reaching out to the Community

 

You can record this transaction using a bank deposit in QuickBooks Online; to do this, first record the sales receipt (for the full amount, e.g. £4.12) to the Undeposited funds account (in the Deposit to field).

 

After this, create a Bank deposit (from the + New button > Bank deposit). On the bank deposit screen, select the account that the money was received to and the date. Next, tick the sales receipt payment under Select the payments included in this deposit.

 

Scroll down to Add funds to this deposit and select the fee account that you're using to track the deducted fees under Account. Fill out the rest of the fields as you see fit and enter the amount as a negative figure (e.g. - 0.07). 

 

The bank deposit total will then show the updated amount (in this case, £4.05). Save & close, and match to the payment in your connected bank. 

 

You can see further scenarios where these steps are applied (including a short video demo) here. We'll be around if you have any additional queries. 🙂