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Level 1

QB Online doubling QB credit card fees in register

My bank balance does not match QB balance and looking at the register I noticed that it appears QB is doubling the credit card fee transactions but only in QB not literally doubling out of my account. I included a screenshot of what it looks like for better understanding. Thanks!

 

Side question...every credit card deposit goes into undeposited funds, how can I just make a rule for it to go to sales or does it have to be manually done each time? Thanks again!

 

Joe

 

Screenshot 2021-01-19 192218.png

3 Comments
Moderator

QB Online doubling QB credit card fees in register

Hi there, @JosephSenese. I'm here to lend a hand. 

 

To start, let's check how you record the fees, so you'd able to delete the duplicate.

 

If the sales transaction is deposited to the Undeposited Funds account, instead directly to the bank account, then you'll need to create a Bank Deposit. Doing so will record the deposit and include the Fee from there. 

 

For more information about this process, see these articles:

To learn more about undeposited funds in QuickBooks Online: What’s the Undeposited Funds Account?.

 

Once bank transactions downloads, you can now start categorizing or matching them to straighten out your books. After that, you have the option to do your regular bank reconciliation

 

Please let me know if you have any other questions about your QuickBooks. It'll be always my pleasure to help. 

Level 1

QB Online doubling QB credit card fees in register

So I can just delete the duplicate cc fee in the register? Or once I register it in the bank account per your instructions it should rectify itself? Just asking before I do so and potentially create another problem haha. 

QuickBooks Team

QB Online doubling QB credit card fees in register

I'd like to help, JosephSenese.

 

If you use both QuickBooks Online Banking and QuickBooks Payments, this might be the reason why you see duplicate transactions in your bank register. To clarify, did you add the other transaction from the Banking page? Make sure to only choose the one that fits your business.

 

With regard to the screenshot you've provided, I can see that the other fee is not reconciled. If this is the transaction added from the Banking page, you can remove it from your bank register by following these steps: 

 

  1. Go to Transactions or Banking > Reviewed or Categorized tab.
  2. Find the fee and select it by putting a check mark on the box.
  3. Click the Undo button. This will add the transaction back to the For Review section.

Please see this sample screenshot for a visual guide:

 

 

 

If you haven't reconciled the account, you can use the steps provided by my colleague above. This helps to match transactions recorded in QuickBooks and the figures downloaded in the Banking page. For example, the original invoice was entered for $503, but the same transaction with the applied fee is downloaded as $500 on your bank statement. What you can do to match both is to create a bank deposit and include the fee to match them.

 

Here's a sample screenshot for reference:

 

 

For more details, you can go to the Include bank or processing fees section in this article: Record and make bank deposits in QuickBooks Online

 

If you want to create a bank rule, the instructions can be found here: Setup bank rules to categorize online banking transactions in QuickBooks Online.

 

Please let me know if you have any follow-up questions. I'll be around to help you out again. Thanks.

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