How do I select all payments defaulting to operating account except when I want to select a direct payment to trust account with fees taken from operating account?

Hi @sms1,

I'm here to take care of your concern about categorizing your transactions.

In QuickBooks Self-Employed (QBSE), whenever you mark an expense as Business, the system will assign it to the correct business category. If you wish to speed up the review process, you can utilize bank rules. 

Here's how to create rules:

1. Go to the Gear icon. 
2. Select Rules.
3. Press Create Rule.
4. In the Description field, enter the customer or vendor you want to create the rule for.
5. Put a check on the Match exactly checkbox if you want QBSE to only use the rule when transactions match exactly.
6. From the Account drop-down menu, select the account you want transactions to go into.
7. From the Type dropdown, select Business, Personal, or Split.
8. If you want QuickBooks to categorize transactions, select the Category link, and choose a category.
9. (Optional) Set the rule to Also apply to past transactions if you want to apply it to transactions you've already categorized.
10. Hit Save when done.

Take a look a look at this article for additional details on this feature: Create rules to speed up reviews in QuickBooks Self-Employed. This includes steps on how to create rules within a QBSE mobile app. 

Feel free to place a comment below in case you have other concerns. I'll be sure to get back to you. 

So what I want to do has an impact on how I accept credit card payments.
Right now, if a client wants to pay a retainer fee to me, it goes into my
Trust account. Fees paid into the Trust account belong to the client until
I do the work and bill for that work.   I have set it up with Quickbooks
that all transaction fees from the use of the credit charge are paid by me
from my operating account so the Client gets the full benefit of
the retainer deposit.  This is required by IOLTA accounting where all
interest on the account goes to the state bar for indigent legal services.

My question is what can I do to accept a credit card payment on a
Quickbooks invoice where I want the funds deposited directly into my
Operating account?  This would be a payment on an invoice where work in
done and the fees paid to me belong to me, not the client.

Can I get two merchant ID so one credit card payment goes into the trust
account and another merchant ID where the credit card payment goes into the
Operating account?

So what I want to do has an impact on how I accept credit card payments.
Right now, if a client wants to pay a retainer fee to me, it goes into my
Trust account. Fees paid into the Trust account belong to the client until
I do the work and bill for that work.   I have set it up with Quickbooks
that all transaction fees from the use of the credit charge are paid by me
from my operating account so the Client gets the full benefit of
the retainer deposit.  This is required by IOLTA accounting where all
interest on the account goes to the state bar for indigent legal services.

My question is what can I do to accept a credit card payment on a
Quickbooks invoice where I want the funds deposited directly into my
Operating account?  This would be a payment on an invoice where work in
done and the fees paid to me belong to me, not the client.

Can I get two merchant ID so one credit card payment goes into the trust
account and another merchant ID where the credit card payment goes into the
Operating account?

I appreciate the complete details you've shared with us, @sms1.

You can create and send invoice through QuickBooks Self-Employed. Also, you can connect the bank account where your customers' invoice payments are posted QuickBooks. Once connected, you can track your customers' payments as Business Income.

I'd recommend contacting our QuickBooks Online Merchants Service Customer Care Team so you'd be guided in setting up the account and receiving credit card payments. They have the tools that can securely look up your Merchants account and ensure that it is integrated with QuickBooks Self-Employed account.

I'd also added these articles so you'd get acquainted with the QuickBooks Self-Employed invoicing feature:

• Create an invoice in QuickBooks Self-Employed.
• Let your clients pay you online.
• What happens when you send an invoice?

Swing by here if you have other questions about using QuickBooks Self-Employed in managing your business. I'm always here to help.