Recording e-transfer fees for payroll

Hi dairydetippe,

Making sure that your payroll transactions match your bank feeds is an integral part of bookkeeping. I can help point you in the right direction to get your accounts balanced and matched.

QuickBooks Desktop helps you save time by allowing you to download your transactions from the bank to match and reconcile. In a situation like this the only way to match transactions like this is to create an expense transaction for the e transfer amounts and manually reconcile the account without using the downloaded bank feeds. You can create an expense transaction by following the steps in this article.

Another option is to reach out to your accountant for help on how to enter and track these e-transfer charges. If you don't have an accountant no worries, we can help. You can go to our find an accountant page to find one in your area that can help.

If you have any questions feel free to reach back out to us so we can help!

Hey Nick, thanks very much for the reply.  The solution isn't ideal, but I appreciate the response.  However, the article you provided me with gives instructions on how to create an expense in Quickbooks Online.  I am using Quickbooks Desktop.  Pertinent instructions for my program would be helpful. 

Also, instruction on how to manually reconcile within QBD would be helpful as well. 

Hi again dairydetippe,

Thanks for bringing that to my attention. It was my mistake on that one, in order to create an expense transaction you'll need to go to write cheques, select the account it's assigned too and the amount. You can also add a memo so you know what the expense was for in the future. 

In order to manually reconcile all you need to do is have a copy of your bank transactions, it can be a print out or a downloaded PDF and manually check off the amounts when you're doing the reconcile. This way you can check off the balances as you know the e-transfer fee is assigned in the expense you just made. Once that's done your ending balance should match up with what the bank statement says.

Hope this was able to help and please feel free to message us back if you have further questions.

Thanks Nick.  That's helpful.  I wouldn't say this is solved, because I feel like there could be a less cumbersome way of getting around this.  But I do appreciate the suggestions as to how to make it work.  

Hi there dairydetippe,

I'm happy that we were able to assist. If you do have any other questions, feel free to post them here.