Using sumup to receive creditcards. sumup take commission before i receive payment. eg if i have an invoice for £10.00 paid by card i get £9.83 to my bank. way to record?

This is such an strange way to report money coming from SumUp. There must be an easier way to match the payment and add the difference to an expense account - Called SumUp.

All my payments will be SumUp whcih I will then split across customers for that day and then match to each (allowing for the SumUp fee deduction).

Is this possible please?

Hello Tracey, 

Thank you for posting on this thread, 

The way that has been mentioned above in this post is correct that is the way to record these transactions into Quickbooks 

Sumup send a monthly invoice, is there a way to enter this when the above method is used?

Can it be tied to the small commission transactions made?

Hi Monty, the method above would only reconcile if the customer payments were received and deposited to your bank on the same date that the Sumup fees were charged (as the bank deposit can only have one date assigned). If you receive the customer payments individually and then pay the fees later as a monthly lump sum, you can instead record this using a single expense transaction (+ new > expense > entering the supplier, date, payment account, the relevant expense account for the fees under 'category', and total charge amount).

Hi,

I am facing this issue with MyPos.

I need to reconcile the bank payment from MyPos which is minus their commission.

I am at the Bank Deposit screen but I get an error "Select an account for this transaction" under the Add funds to deposit.

Do I select Undeposited Funds there?

I also get an error "Select a bank account for this deposit."

At the top under Account, I have already selected my main bank account.

Let's get this commission added in QuickBooks Online, Rafiq.

If you're recording the commission as an expense, we can allocate the transactions to an expense account. 

See the steps and sample screenshots below:

1. Click + New in the left panel and choose Bank Deposits.
   
2. Select the invoice payment.
3. In the Add funds to this deposit field, choose the relevant account for fees, shipping expenses, or commission.
4. Enter a negative amount, under Amount.
   
5. Hit Save and close.

If you're still unsure about which account to choose, I recommend consulting with your accountant. Accounting professionals can provide more expert advice. 

In case you want to reconcile the account, refer to this article: Reconcile an account in QuickBooks Online. This will walk us through the steps of manually reconciling an account that isn't linked to online banking. 

Please let me know if there's anything else I can do to assist you with QuickBooks, Rafiq. Have a wonderful day.