I can show you how to account for the payment processing fee, @Googalabosh.
You can use an expense account for the processing fees you'll record in QuickBooks. If you haven't created one, you can follow these steps:
- Go to the Lists menu and select Chart of Accounts.
- To add an account, click + at the bottom of the Chart of Accounts.
- Choose Expense or Other Expense as the account type.
- Add the name (processing fees/bank fees), then fill in the required details.
- Hit OK.
Once done, you're now ready to deposit the payment and record the fee.
- Select Make Deposits from the Banking page.
- Add the payment, then enter the processing with its amount (negative).
- Tap Save and Close.
If you want to have a separate record for the Square fee, you can create a check:
- Go to the Banking tab, then select Write Checks.
- Add the account, then the amount under the Amount column.
- Save the transaction.
You can refer to the following article for more information on how to record and make bank deposits in QuickBooks Desktop.
If you have additional questions about recording your transactions, feel free to get back to this thread. I'll be right here to help you anytime. Have a nice day!
