cancel
Showing results for 
Search instead for 
Did you mean: 
yagi1783
Level 1

How to enter merchant service fee after the payment was deposited

Hi. Thank you for reading my post. 

I am very new to quickbooks desktop and need some help. 

Let's say my customer paid $100, $5 is merchant service fee, so $95 applied to my bank account. 

Since I was new and didn't know how to record it properly, I made deposit of $100 and forgot about recording $5 merchant service fee. 

Is there any way I can edit the transaction? If no, how can I record $5 merchant service fee?

 

Solved
Best answer March 24, 2021

Best Answers
Rea_M
QuickBooks Team

How to enter merchant service fee after the payment was deposited

You'll have to edit the bank deposit you've made in QuickBooks Desktop (QBDT) to enter the merchant service fee, @yagi1783. I'm here to guide you how.

 

You're already on the right track in recording the payments you've received in QBDT. When you're unable to include a service fee in your deposit, you can update it any time to add the necessary info to it. You just need to edit the payment amount applied to your bank account to $95, then add another line item for the $5 merchant service fee. In case you haven't added an account for merchant service fees, you'll have to create a new one.

 

Whenever you're ready, let's pull up the Deposit Detail report to view the transaction you need. Here's how:

  1. Go to the Reports menu.
  2. Select Banking, then choose Deposit Detail.
  3. Find the deposit, then double-click it to open its details.
  4. Update the payment amount and add the service fee line item.
  5. Once done, click Save and close.

 

Additionally, when you have QuickBooks Payments, QBDT groups the customer payments you process each day and deposits them as a single bank deposit into your account. To know more about this, you can refer to this article: Automatically record QuickBooks Payments bank deposits.

 

Also, I'm adding this article to answer the most frequently asked questions about recording merchant service deposits in QBDT: QuickBooks Payments bank deposits FAQs. It includes topics about finding transactions in the merchant service deposit and duplicate entries, to name a few.

 

Let me know how it goes in the comments below. If you have other concerns about bank deposits or inquiries about managing payments and merchant service fees, I'm just around to help. Take care always.

View solution in original post

2 Comments 2
Rea_M
QuickBooks Team

How to enter merchant service fee after the payment was deposited

You'll have to edit the bank deposit you've made in QuickBooks Desktop (QBDT) to enter the merchant service fee, @yagi1783. I'm here to guide you how.

 

You're already on the right track in recording the payments you've received in QBDT. When you're unable to include a service fee in your deposit, you can update it any time to add the necessary info to it. You just need to edit the payment amount applied to your bank account to $95, then add another line item for the $5 merchant service fee. In case you haven't added an account for merchant service fees, you'll have to create a new one.

 

Whenever you're ready, let's pull up the Deposit Detail report to view the transaction you need. Here's how:

  1. Go to the Reports menu.
  2. Select Banking, then choose Deposit Detail.
  3. Find the deposit, then double-click it to open its details.
  4. Update the payment amount and add the service fee line item.
  5. Once done, click Save and close.

 

Additionally, when you have QuickBooks Payments, QBDT groups the customer payments you process each day and deposits them as a single bank deposit into your account. To know more about this, you can refer to this article: Automatically record QuickBooks Payments bank deposits.

 

Also, I'm adding this article to answer the most frequently asked questions about recording merchant service deposits in QBDT: QuickBooks Payments bank deposits FAQs. It includes topics about finding transactions in the merchant service deposit and duplicate entries, to name a few.

 

Let me know how it goes in the comments below. If you have other concerns about bank deposits or inquiries about managing payments and merchant service fees, I'm just around to help. Take care always.

View solution in original post

yagi1783
Level 1

How to enter merchant service fee after the payment was deposited

Thank you very much for the quick reply. 

I was able to edit the deposit. I appreciate your help!

Sign in for the best experience
Ask questions, get answers, and join our large community of QuickBooks users.
Sign In / Sign Up

Need to get in touch?

Contact us