credit card processing fee deducted from credit card chrges deposit

Hello there, Screenman1. I've got the steps you need on how to record this correctly in QuickBooks Online.

You'll have to create an expense account to post the fee. 

1. From the Accounting menu, select Chart of Accounts.
2. Click New.
3. On the Account Type, choose Expense.
4. On the Detail Type, choose the type of your account.
5. Enter the name of your account.
6. Select Save and Close.

Then, create a service item for the credit card fee and choose the account you've created as an income account. To do so, you can follow these steps:

1. Go to the Sales menu and then select Products and Services.
2. Select Service.
3. Enter the name of your item.
4. Select Save and Close.

Once done, add the fee to the invoice. Here's how:

1. Choose the + New icon and then select Invoices.
2. Select the name of the customer.
3. Enter the necessary information.
4. Add the service item that you've created on the second line.
5. In the Amount field, enter a negative fee amount.
6. Click Save and Close.

To learn more about how credit card processing fee works in QuickBooks, please check out these articles: 

• A quick guide to Credit Card processing
• Accepting credit card payments: The Basics
• Everything You Ever Wanted to Know About Credit Card Fees

Keep me posted if you need more help about the process, Screenman1. I'm ready to help you more.

I already posted an expense for the processing fee.  My dilemma is how to match the bank feed total of the net deposit. $4868.43.  The charges to 4 customers were $6093.44 The Credit card fee $1225.01 was deducted from deposit so Net deposit is $4868.43. I don't know how to match this deposit.

Thank you for getting back to us, @Screenman1.

To match the bank feed total of the net deposit, you have to create a bank deposit for your daily deposit together with the credit card fee. Make sure that you input the correct accounts for your deposits and fees. 

Here's how you create a bank deposit for your deposit and fee:

1. Go to +New.

2. Select Bank Deposit.

3. Fill in the necessary information under the Bank Deposit window. 

4. Click Save and close.

Once done, you can now match your transactions.

You may visit this article to know how to reconcile your account flawlessly: Reconcile an account in QuickBooks Online.

The Community always welcomes you for further inquiries with regard to your transactions. Have a great day ahead!

When I create a deposit & use the Customers that we received the monies from that double posts the payment since I already took in the payment when we did the initial bank deposit.  Do I need to delete the initial receipt of monies and just do the transaction in the bank deposit transaction as described above?

Thanks for the update, @Screenman1.

Yes, you can delete the initial receipt of monies so you won't be double posting the payments in QuickBooks Online (QBO) and keep your financial data accurate. Let me guide you on how to do this below.

Since you already know that the initial receipts duplicate your payment transactions, you can go ahead and delete them. To do this, here's how:

1. Go to the Sales menu.
2. Select the All Sales tab.
3. Choose the payment transaction you want to delete to open its details.
4. Click the More button at the bottom.
5. Select Delete and then Yes to confirm.

After that, open the initial bank deposit and include the bank fee (-1225.01) in the Add funds to this deposit section. Please see the screenshot below for your reference.

Once you're done, match your deposit to the downloaded bank transaction. You can refer to this article for the complete guide: Categorize and match online bank transactions in QuickBooks Online.

Also, I encourage you to reconcile your accounts in QBO regularly (every month). This helps monitor your income and expense transactions and detect possible errors accordingly. You may want to check out this article as your reference to guide you in doing and fixing reconciliations in QBO: Learn the reconciliation workflow in QuickBooks .

If there's anything else you need in recording bank deposits or questions about managing transactions in QBO, I'm always ready to help. Take care, and stay safe, @Screenman1.

I have the exact same issue.  I can't match my deposit tot he appropriate invloices because the amounts don't match due to them taking the processing fees out of the deposit.  Did you get an acceptable way to solve the issue>

Thanks for joining the Community and getting involved with this thread, vetsfirstdme.

If the steps shared by my colleagues above didn't solve your scenario and enable you to match your deposit to its associated invoices, I'd recommend working with an accounting professional.

In the event you're in need of one, there's an awesome tool on our website called Find a ProAdvisor. All ProAdvisors listed there are QuickBooks-certified and able to provide helpful insights for driving your business's success.

Here's how it works:

1. Go to our Find a ProAdvisor page.
2. Use the City or ZIP search field to specify a location.
3. Select Find a ProAdvisor.
4. Browse through your results and find one that works best for the business. You can click on each ProAdvisor's profile to learn more information about them.
   
   

Once you've found an accountant, they can be contacted through their Send a message form:
 

1. Use the available text box to introduce yourself. Be sure to include details about which services you're looking for.
   
   
    
2. Enter your appropriate info in the Your name, Your email, and Your phone number (optional) fields.
   
   
    
3. Hit Send message.
   
   

You'll also be able to find many detailed resources about using QuickBooks in our help article archives.

If there's any additional questions, I'm just a post away. Have a great day!

Yes, click on the specific deposit you are trying match & then click find match. When you are posting the matched invoices to the deposit when you have a refund or in your case the credit card fees, post the invoices that do match and then at the bottom of the screen click on resolve the difference and then a drop down appears that you can then post the refund or creditcard merchant fee in an expense account to balance the deposit.