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Hi,
I have QBO and have purchased a zettle card machine and set up all the integrations.
I have taken a couple of payments for invoices I have created on QuickBooks. However, they aren't matching to any existing invoice. Also they are showing in "PayPal Bank" account with the totals and fee deductions, but also in my business bank account when zettle deposits the final amount to my account so it looks like I am getting paid double.
How do I fix this? I just want payments to reconcile themselves and for fees to be deducted automatically.
Thanks
James
Solved! Go to Solution.
Let's make sure that you're able to match the payments to the invoices, James.
Although payments are automatically synced, the processing fees are not automatically added to your invoices in QBO. Because of this, the amounts that were deposited and downloaded are not the same with the invoices in your account.
The steps below cover how to record receiving a payment minus fees in QuickBooks:
1) Raise the invoice for the full amount manually (Sales > Invoices > New invoice)
2) Select 'Receive payment' on the invoice - enter the payment details and receive the full amount to the 'Undeposited funds' account on the 'Deposit to' drop-down
3) Create a bank deposit (+ New > Bank Deposit) - make sure the date is when the payment hit your account
4) Tick the invoice payment listed under 'Select the payments included in this deposit'
5) Scroll to 'Add funds to this deposit' - Set the 'Amounts are' drop-down to 'No VAT'
6) On the first line, enter the expense account for fees under 'Account', and enter the fee amount as a minus figure
7) Check the total bank deposit amount in the top-right matches the payment received then save & close.
You can now match this transaction to the payment on your banking screen
I recommend reaching out to Zettle and check if there's an integration setting on their part about automatically adding fees to invoices. Go to this link to get their contact details: https://quickbooks.intuit.com/app/apps/appdetails/zettle/en-gb?queryID=642e78f90386b2b6b3982ed23bce1...
With regards to the transactions that are also showing up in PayPal Bank, you can exclude them to avoid duplicate records. Here's how:
Feel free to ask questions if you still need help sorting out your payments and banking transactions. We're always here to answer any QuickBooks-related questions.
Let's make sure that you're able to match the payments to the invoices, James.
Although payments are automatically synced, the processing fees are not automatically added to your invoices in QBO. Because of this, the amounts that were deposited and downloaded are not the same with the invoices in your account.
The steps below cover how to record receiving a payment minus fees in QuickBooks:
1) Raise the invoice for the full amount manually (Sales > Invoices > New invoice)
2) Select 'Receive payment' on the invoice - enter the payment details and receive the full amount to the 'Undeposited funds' account on the 'Deposit to' drop-down
3) Create a bank deposit (+ New > Bank Deposit) - make sure the date is when the payment hit your account
4) Tick the invoice payment listed under 'Select the payments included in this deposit'
5) Scroll to 'Add funds to this deposit' - Set the 'Amounts are' drop-down to 'No VAT'
6) On the first line, enter the expense account for fees under 'Account', and enter the fee amount as a minus figure
7) Check the total bank deposit amount in the top-right matches the payment received then save & close.
You can now match this transaction to the payment on your banking screen
I recommend reaching out to Zettle and check if there's an integration setting on their part about automatically adding fees to invoices. Go to this link to get their contact details: https://quickbooks.intuit.com/app/apps/appdetails/zettle/en-gb?queryID=642e78f90386b2b6b3982ed23bce1...
With regards to the transactions that are also showing up in PayPal Bank, you can exclude them to avoid duplicate records. Here's how:
Feel free to ask questions if you still need help sorting out your payments and banking transactions. We're always here to answer any QuickBooks-related questions.
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