I've been using QB since dos V2 1992 for record keeping and reports for my auto repair business.
My accountant years back helped me set my files up and helped me understand how things work.
So I print checks and done for that portion and reconcile my accounts as well.
I use a different automotive point of sale program.
I then run reports from POS program daily or weekly if I'm busy and enter this as 'income' into QB with taxable parts and labor untaxed and then payments on a sales receipt. This gives me my deposits and I can reconcile monthly.
I just switched to Mac OS and now the sales receipt won't work so I am doing what I did with the invoices pretty much the same.
I try to makes things work smoother/ faster for me so I customized the invoice to give me the least amount of key strokes to navigate.
Previously I would record the entire payment and have to enter a line item 'bank fees' in my 'deposit slip'. Since then I found it easier and less confusing to add a fee line item on the invoice and deduct the fee at the time of sale.
My problem is I can/ have setup the amount of 2.75% and it will deduct it but it won't ever be correct with tax added after the fact at the 'bottom' of the invoice. If I could do this as a % in the deposit screen then that would work as well.
Is there a way to create an invoice subtotal including tax that I can then apply the fee and it calculates it properly?
I know it won't work properly with multiple payments unless all are from square, but I am now just a small shop and may only have one invoice a day. Also I love to figure this stuff out.
Could this be accomplished through a receive payments screen maybe? like an early payment discount of 2.75%?
Any suggestion would be great or intuit please take this as a suggestion.
I did some beta for the first CC payments in the early 2000's and would be happy to help solve this if you are interested.
Edit. in the past I had merchant services and in the end the fees were one entry in my checkbook register, yes much easier.
Adding a percentage (%) is unavailable in the deposit screen. You'll want to include the fee as a line item after the subtotal and tax line items.
I would also suggest consulting with an accountant before adding the fee as an early payment discount.
I will send a product suggestion to our engineers about this, too.
The Community is always here for you if you have more questions.
Yes please suggest that option to be able to insert a 'discount' after a subtotal. The discount being the fees to what I use - a 'bank charges' account.
For those who might use paypal and or square with a set percentage fee of the TOTAL sale this would be a welcome addition.
really!!!??? but qb community does not help at all!!! It is so frustrating. I understand that creating a discount account works but qb online does not give me that option. Can you help me with it?
Hi there, @expressconst.
Let me help share some information about creating a discount account in QuickBooks Online (QBO).
Before creating a discount account, make sure to turn on the Discount feature in your QuickBooks Account and Settings.
Once the discount feature is on, you'll see a drop-down that will let you add a Discount percent or Discount value at the bottom of your invoice or sales receipt.
You can now create a discount account by following these steps:
For additional reference, you can check this article for the detailed steps on how to apply a discount on an invoice or sales receipt.
That should do it! Feel free to leave a comment below if you have other questions about the discount feature. I'll be around to help.