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Join now99.9% of the time, when my customers pay an invoice using QB Payments, the full transaction amount is deposited into my bank account then Intuit charges me the fee as an ACH withdrawal out of my account.
For example, customer is sent invoice for $50, customer pays with credit card. $50 is deposited into my account then Intuit debits my bank account for the processing fee of $1.70
For some reason, I have 2 transactions where the deposit into my account is net of fees. Exact same use case, exact same workflow but the deposit is net of processing fees.
How do I account for the fees when the invoice is for $84, Payment was recorded for $84, but deposit is off by the $2.69 fee so the bank feed doesn't match up?
Hi there, KeeganE.
You can edit the invoice and add a service fee item. Then, enter $2.69 as a negative amount so the downloaded payment and invoice amount will be the same. I'd be glad to share all the steps with you.
First, create a service fee item and post it in your expense account. Here's how:
Second, open the invoice and add the item in the second line. Here's how:
Here's an article about this process for more details: Manually Add Service Fees to Invoices in QuickBooks Online.
Once done, you can match the downloaded transactions and the invoice since they already have the same amount.
The Community is always here if you need anything else.
Thanks @JenoP. Quick follow up question - because the customer paid via credit card using QB Payments, QB recognizes the payment as having been $84 so wouldn't it show a customer credit for the fee amount of $2.69?
Because they actually paid $84 not $81.31?
@KeeganE, it's great to have you back in the Community thread. I'd be delighted to share further information about your customer's payments.
It is important to monitor your payments with QuickBooks Online. In your case, there won't be a customer credit because the cost would be deducted from your bank account. You were responsible for the fee since you accepted the customer's full payment via one of your payment options.
You may want to read the following articles to determine if there is a processing fee in your payment transactions and when QuickBooks Payments will transfer payments into your bank account:
You're always free to reach out to us again if you have further questions about payment processing or any QuickBooks-related concerns. We're willing to help you at any time. Take care!
@SirielJeaB adjusting an invoice down after payment has been received doesn't show the customer as having overpaid?
Thanks for following up with the Community, KeeganE.
You can use JenoP's recommended steps to create a service for your processing fees that were deducted prior to the deposit coming into your bank, then add it to the invoice.
If you have any questions about what can happen from doing this, or need any further assistance in regard to it, you'll want to work with an accounting professional. In the event you're in need of one, there's an awesome tool on our website called Find a ProAdvisor. All ProAdvisors listed there are QuickBooks-certified and able to provide helpful insights for driving your business's success.
Here's how it works:
Once you've found an accountant, they can be contacted through their Send a message form:
You'll also be able to find many detailed resources about using QuickBooks in our help article archives.
I'll be here to help if there's any questions. Have a wonderful Wednesday!
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