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said2
Level 1

How can i correct deposits from merchant acct into my bank acct when reconciling in quick books, total of three deposits should match 5 sales and two cc fee charges

 
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Best answer August 27, 2020

Best Answers
jamespaul
QuickBooks Team

How can i correct deposits from merchant acct into my bank acct when reconciling in quick books, total of three deposits should match 5 sales and two cc fee charges

Hello, said2.

 

I'm more than happy to show you how to correct and record those deposits so you can reconcile your bank. 

 

You'll want to create a bank deposit for all of the total sales and credit card fee charges from your Merchant account. Here's how: 

 

  1. Click the Gear icon, then choose Bank deposit.
  2. Check the payments from the sales. 
  3. Add memo, reference numbers and other important details. 
  4. Under the Add funds to this deposit section, select an expense account (where you record your credit card fee charges). 
  5. Enter the amount for the two charges as negative values (denotes deductions from the total deposit). 
  6. Add reference numbers, notes and other details.
  7. Once done, click Save and close. 

 

Deposit1.PNG

 

This will deposit the total amount (minus the credit card fees) to your bank account. Review the transactions if needed then continue reconciling it. If you need help, I'd recommend reading this guide: Reconcile an account in QuickBooks Online.

 

Need help with your Merchant Services account or simply with other tasks in QuickBooks Online? Check out our articles for guides and tips. Click here to go to our general help page. You can change the product by selecting another under the Topics for section. 

 

Do you have any other questions in mind regarding Merchant Services or QuickBooks Online in general? Post them in the rely section below and I'll help you out again. 

View solution in original post

2 Comments 2
jamespaul
QuickBooks Team

How can i correct deposits from merchant acct into my bank acct when reconciling in quick books, total of three deposits should match 5 sales and two cc fee charges

Hello, said2.

 

I'm more than happy to show you how to correct and record those deposits so you can reconcile your bank. 

 

You'll want to create a bank deposit for all of the total sales and credit card fee charges from your Merchant account. Here's how: 

 

  1. Click the Gear icon, then choose Bank deposit.
  2. Check the payments from the sales. 
  3. Add memo, reference numbers and other important details. 
  4. Under the Add funds to this deposit section, select an expense account (where you record your credit card fee charges). 
  5. Enter the amount for the two charges as negative values (denotes deductions from the total deposit). 
  6. Add reference numbers, notes and other details.
  7. Once done, click Save and close. 

 

Deposit1.PNG

 

This will deposit the total amount (minus the credit card fees) to your bank account. Review the transactions if needed then continue reconciling it. If you need help, I'd recommend reading this guide: Reconcile an account in QuickBooks Online.

 

Need help with your Merchant Services account or simply with other tasks in QuickBooks Online? Check out our articles for guides and tips. Click here to go to our general help page. You can change the product by selecting another under the Topics for section. 

 

Do you have any other questions in mind regarding Merchant Services or QuickBooks Online in general? Post them in the rely section below and I'll help you out again. 

View solution in original post

said2
Level 1

How can i correct deposits from merchant acct into my bank acct when reconciling in quick books, total of three deposits should match 5 sales and two cc fee charges

Thank you very much for your help

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