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ss2235
Level 1
posted
‎January 29, 2020 08:15 AM
last updated ‎January 29, 2020 8:15 AM

Manually report merchant service deposit

I accepted a credit card payment through the merchant account instead of through quickbooks and now need to record the payment manually in qb.  To give you some history as to why I did not take the payment through quickbooks it is because the merchant was not paying every invoice and at the time was unable to identify what invoices exactly he was paying plus we were charging him for the processing fees.

 

I know need to record the payment against the individual invoices.  First, I recorded the processing fees through statement charges, then went into 'Receive Payments' and entered the amount of his credit card payment.  QuickBooks correctly identified the invoices that are being paid but the issue I am having is that if I select the credit card source of payment it asks for the credit card information.  He has already paid so I do not need to enter it again and am afraid he will be charged.

 

 

I am looking for guidance in how to process this transaction.  Thanks in advance!

 

ss

 

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1 Comment 1
IamjuViel
QuickBooks Team
QuickBooks Team
‎January 29, 2020 10:02 AM

Manually report merchant service deposit

I appreciate the complete details you've provided, @ss2235.

 

When you receive a deposit from your QuickBooks Payments account, you’ll need to record the deposit and fees in QuickBooks Desktop. This is so your deposits in QuickBooks match your bank account. Also, the amount you received from the invoice will not match your bank statement because of the fees. You'll need to record the fees correctly so when you create a merchant service deposit on your QuickBooks Desktop (QBDT) it will match on your bank statement.

 

You can check out this article for more information and for the steps on how to manually record your deposits: How to record merchant service deposits.

 

On the other hand, here is the correct workflow to record your Account's receivables in QuickBooks Desktop.

  1. Create an invoice
  2. Record a payment
  3. Deposit customer payments

To help you check review the account's where your payments where recorded or deposited, you can pull up Transactions List by Customer report. You can filter this report to show payments you've receive per customer and where it was deposited. Please refer to the screenshot below:

 

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Feel free to let me know if you have other questions about recording your payments. I'm always here to help.

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