Reconciling card payments on our bank statement

To match your bank statement in QuickBooks Online, you can create a Bank Deposit that matches your statement, then subtract the merchant fee as a negative line item.

If you have already processed the customer payments and they are currently sitting in your Undeposited Funds or Payments to Deposit account, follow the steps below:

1. Navigate to the + Create menu and select Bank deposit.
2. Select the correct bank account from the Account dropdown, then check the boxes for the individual customer payments that make up the lump-sum deposit on your bank statement.
3. Scroll down to the section titled Add funds to this deposit to record the commission:

• In the Receive From field, enter your payment processor's name.
• In the Account field, choose your expense account for processing fees.
• In the Amount field, enter the fee as a negative number.
  4. Verify that the Deposit Total at the bottom now exactly matches the net amount on your bank statement, then click Save and close.

Once completed, go to your Bank Transactions tab, and the system will automatically suggest a perfect Match for that line item. This way, the full invoice amount is recorded against the customer, the fee is captured as an expense, and the deposit matches your bank statement reconciliation and clears cleanly.

You can visit this article for detailed guidance on recording bank deposits in QuickBooks: Record and make bank deposits.

If you have additional questions or concerns, you can leave a comment below.