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Community Explorer **

Want QBO CC fees recorded as paid out of a different bank account than the QBO payments deposits in to.

The Intuit merchant center allows for your CC fees to be taken out of a one bank account  and the deposits into a different bank account ....Excellent as that's how I want it....... EXCEPT, QBO doesn't have anywhere to actually set up the auto recording of those fees / deposits to record to two different GL accounts (bank accounts).

Anyone have any input or know if any changes are planned? I've asked repeatedly for an update to QBO but no luck so far.

1 Comment
QuickBooks Team

Re: Want QBO CC fees recorded as paid out of a different bank account than the QBO payments depos...

Hello there, @ lisa3.

 

I’d be delighted to provide some information on how you can record your credit card fees with QuickBooks Online.

 

Currently, you can only connect one bank account to which your merchant transactions will be automatically recorded. You need not to worry though, you can connect your second bank account directly with QuickBooks Online. By doing so when your credit card fees are posted to your bank’s website it will be downloaded to QuickBooks automatically.

 

To connect your second bank account, here’s how:

  1. Create an account in Chart of Account.
    1. Go to the Gear icon.
    2. Choose Chart of Accounts.
    3. Select the New button at the top.
    4. From the Category Type drop-down, choose Bank.
    5. Type in Credit Card Fees (from Merchants) as bank name and add an optional description and opening balance.
    6. Select Save and Close.
  2. Connect bank account
    1. Click the Gear Icon.
    2. Go to Banking.
    3. Choose Add Account.
    4. Look for your bank’s name from the list.
    5. Enter your bank's login credentials.
    6. Select Continue.
    7. Click Securely Connect.
    8. Select the Account Type from the Charts of Account.
    9. Click Connect.

That should so it! Once your bank is connected, all of your credit card fees will be recorded to QuickBooks automatically.

For future reference, you can check out these articles:

Please feel free to leave a comment below if you have other questions recording your credit card fees automatically with QuickBooks. I‘m always here to help.