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Credit card fees from square

How do I account for credit card fees from square when my quick books is not connected to square for automatic download?

1 Comment
QuickBooks Team

Re: Credit card fees from square

Hi there, Daveyboysam52.

 

It's nice to have you in the Community today. I'm here to guide you on how you can account your credit card fees from Square in QuickBooks Online.

 

You can add the amount of the bank service fee and enter it directly into your register. That way the register balance will match to the bank statement balance. After entering the bank service fee, you'll to record the fee as a negative amount on the Bank Deposits screen to deposit the payment.

 

Let me show you how:

  1. Click on the Plus Icon at the top.
  2. Select on Bank Deposit.
  3. You should see the payment you entered in the Select Existing Payments section at the top
  4. Put a check-mark to select the payment you want to deposit.
  5. From the Add other funds to this deposit section, enter the amount of the bank service fee charged to you by the credit card company as a negative amount.
  6. From the Account section, select the Expense account you usually use in tracking bank fees.
  7. Verify that the deposit amount is correct.
  8. Choose Save to record the transaction.

You can also check out this article about entering a bank service fee while using a third-party merchant service for your reference.

 

There you go, your credit card fees has been successfully added to your QuickBooks Online.

 

Please know that the Community has your back should you have any questions. Wishing you and your business continued success.

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