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Eve2019
Level 5

bank late fee

I have a business credit card. I have some accounts set up in my qb desktop ,just trying to figure out if these fall in to the categories I already have. 

Bank charged me for a late fee and a finance fee both were charge in different dates. 

Are both of these EXPENSES accounts?   

My payee would be "bank"s names" and the late fee charge I usually put in my expense account name (bank service charges). 

 

Now for finance charges that my bank chargers I put in my expenses account (name finance account under payee "bank's name)

 

I guess I just need some clarification. thanks 

1 Comment 1
MikiD
QuickBooks Team

bank late fee

I'd be happy to clarify this to you, Eve2019.

 

That is correct. Categorizing these type of transactions under an Expense account is what most of the users do.

 

Also, below are the other ways of recording expenses in QuickBooks Desktop:

 

Please don't hesitate to get back to us if you'd like to ask anything. 

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