Hi bigbark,
Welcome to Community! I'm glad to see you reaching out for assistance with categorizing your transactions and recording applicable fees to ensure your books are accurate. QuickBooks Online allows you to simplify the process when your transactions are automatically updated in your account. I'd be happy to go over this for you!
To categorize the transactions manually, you'll select the bank account they're being applied to. You may also consider, the option to create and apply bank rules so they'll be automatically categorized as soon as you update your accounts. This will minimize the time you need to spend sorting through the transactions and get you moving forward to other tasks. Here's how to create bank rules:
1. From the left menu select Banking or Transactions and then select the Rules tab
2. Click on New rule
3. Enter a name in the What do you want to call this rule? field
4. From the Apply this to transactions that are ▼ dropdown, select Money in or Money out
5. Click on the In ▼ dropdown and choose the bank or credit card account
6. Set the conditions. You can set a single rule with up to 5 conditionals by clicking + Add a condition
7. In the Conditions fields, specify how you want QuickBooks to apply the rules
8. Select the Transaction type, Category, Tax, Tags, and the Payee to apply
9. At the bottom Toggle On, Automatically confirm transactions this rule applies to
10. Review the information and then hit Save
For your reference, here's an article to help with setting up Bank Rules to categorize transactions.
To record the bank service fees, you'll enter it as a negative amount. Here's how:
1. Select + New from the left menu
2. Click on Receive Payments and enter all of the payment information
3. Check the box next to the invoice you'd like the payment to be applied to
4. Choose Undeposited funds as the deposit to account
5. Hit Save to record the transaction
6. Open + New
7. Select Bank Deposits. You'll see the payment you've entered in the Select Existing Payments section at the top
8. Place a checkmark beside the payment to deposit
9. From the Add other funds to this deposit section, enter the amount of the fee charged as a negative amount
10. From the Account section, select the Expense account you usually use for tracking bank fees
11. Review and confirm the deposit amount is correct
12. Choose Save to record the transaction
Please feel free to reach back out with any other questions you may have. We'd like to help!
