I charge my customers a 3% credit card processing fee (customer are aware of this fee).
I already have an item/account set up in quick books desktop for this charge under "other charge"
-I use SUBTOTAL Item then apply
-under I enter card processing fee charge
My customer gave me a deposit of $500 paid with credit card but did not charge him the 3% for this transaction...Days later he paid his balance of $1,346.17 I charged him the 3% of only of the total BALANCE.
Now I'm stuck on how to apply the card processing fee to the invoice of only the balance because if I add the subtotal it doesn't subtract the $500 so it counts it into the 3% total
What is a way to enter this information correctly so my books match my deposits.
Yes, I can help you record this transaction correctly in QuickBooks, @Eve2019.
First, we need to add the deposited amount to his payment which is $1346.17. Once you get the total amount, you can now subtract the $500 deposit. Lastly, add the service charge which is 3%. You can refer to the image below.
Thank you for getting back to me... I understand your steps below, however the $500 I deposited as "received payment" in QB and if I followed your steps below it subtracts another $500. you think if I just add the credit card $40.39 charge on the invoice then this will add the balance $1,346.17 + 40.39 = $1,386.56 which is the total I charged.