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photomomma17
Level 2

How do I include a processing fee when receiving payment?

Once again, something simple I did in QB desktop that I can't seem to figure out in the QB online that I am now using. I am a photographer and my clients purchase packages online. The company that processes these transactions is Stripe. Stripe makes a deposit every so many days and when they do, their fee is automatically deducted. So if a sale is $100.00, the deposit for that sale might be $98.00. In the past with QB Desktop, I would create an invoice for each sale, then when I received the payment, made a discount as I received the payment, which was recorded as the Stripe fee. I don't see this option here. How do I show the fee that I paid and put in the actual amount that was received (which is less than the invoice) easily? This amount with the fee already taken out is what is shown on my bank statements. I only see an option to receive payment, which if I do that, will show multiple invoices as still having a balance, which they do not.

1 Comment 1
MaryLandT
Moderator

How do I include a processing fee when receiving payment?

 

Let me walk you through on how to record the customer's payment with the processing fee, photomomma17.

 

You need to record the payment in full using the Receive payment feature. Then, deposit it to the Undeposited funds account so you can deduct the processing fee.

 

Let me show you how:

 

  1. Go to the + New button on the left menu.
  2. Choose the Receive Payment.
  3. Select the customer, then mark the invoice.
  4. Choose Undeposited funds from the Deposit to field.
  5. Click Save and Close.

After that, make a bank deposit so you can add the fee. Then, post it to your actual bank account. Here's how:

 

  1. Click + New.
  2. Select Bank Deposit.
  3. From the Account drop-down▼menu, choose the account you want to deposit the money into.
  4. Mark the payment you've entered above from the Select the payments included in this deposit section. 
  5. Go to Add funds to this deposit and enter the processing fee (negative amount).
    paymentwithafee.PNG
  6. Select Save and close.

I'm adding these articles for your future reference:

Feel free to leave a comment below if you need anything else about recording a customer payment. I'm always glad to help you.

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