My client has linked Izettle to QuickBooks, but has a problem when it comes to matching the payments. Each day creates a sales invoice and expense for the fees. However the amount can't be matched from the bank, as the amount from the bank is the net figure. I don't want to post the fees as a resolving item, as this will mean they will be posted twice. Does anyone know if there is a way round this.
Receive the full amount of the invoice to the undeposited fund's account > create a bank deposit > ensure the date is the date you received the net amount into the bank > in the account column of the 'add funds to this deposit section' enter fee/expense account (you may have to create one) > enter the amount of the fee as a minus figure in the amount column > the net amount that you receive into you bank should now be showing in the bottom right. save and close > you then should be able to match the deposit to the amount showing on your banking page.
There is no way to match the existing expense to the fee line on the bank deposit, you would need to delete the expense created through iZettle if you choose to follow the steps outlined above.
As you already have both the invoice and expense recorded automatically, you can instead just exclude the transaction from the bank feed by selecting the check-box to the left and going to Batch actions > Exclude.
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