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How to record bank fees

by Intuit Updated 5 months ago

This article is for recording bank fees manually in QuickBooks.

For recording bank fees when you have your bank account connected to QuickBooks, follow this article instead.

Step 1: Create an expense account to allocate you bank feeds to

  1. Go to Bookkeeping, and select Chart of accounts (Take me there).
  2. Select New on the right hand side.
  3. Create an Expense account and name it Bank Fees.
  4. Select Save.

Step 2: Create a Product/Service

  1. Select the Gear Icon in the top right hand corner.
  2. Select Products and Services underneath the Lists column.
  3. Select New on the right hand side.
  4. Select Service.
  5. Name it Bank Fees.
  6. Under Income Account select the Expense Account you just created.
  7. Select Save.

Step 3: Create an adjustment note

  1. Select + New.
  2. Select Adjustment Note.
  3. Select Customer.
  4. Select the Bank Fees service you created.
  5. Add Fee amount.
  6. Select Save.

Step 4: Match the adjustment note to the outstanding Invoice

  1. Go to Sales and select Customers (Take me there).
  2. Select Customers.
  3. Select relevant Invoice.
  4. Select Make Payment.
  5. Tick the Adjustment Note off against the Invoice.
  6. Select Save.
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