cancel
Showing results for 
Search instead for 
Did you mean: 
AndrewN1
Level 2

GoPayment fees going into wrong account.

Good day QB community,

 

Here's my situation. I have two physical bank accounts, one for expenses and one for income. When we take a payment in the field via GoPayments, the fees are debited from the physical expense account, the deposits are credited to the income account. However when I get in to QBO to match/add banking transactions all of the transactions (fees & deposits) are automatically posted to the income account. So before I can match the transactions I must go and manually change every GoPayment fee from income to expense.  

 

I've been on the phone with support regarding this and they told me the only thing I can do is submit feedback. I've done that. I don't believe for a second that I'm the only one who has this kind of requirement.  So that answer was quite infuriating. If merchant services can do it that way why does QBO's functionality not match it!

 

If anyone knows of a solution or if you read this and have the same problem, PLEASE submit the same feedback. 

 

Thank you. 

 

 

6 Comments 6
JonpriL
Moderator

GoPayment fees going into wrong account.

Hello  @AndrewN1 ,

 

When a bank transaction is downloaded into your account in QuickBooks, all data associated with depends on what information by your bank. With this, I'd recommend contacting the technical support of your bank so someone can help you investigate why your transactions don't have the correct posting account.

 

You're on the right track in manually changing the posting account of your bank transactions from income to expense. Doing so, you'll be able to correctly categorize your bank transactions.

 

In addition, here's an article you can read to learn more about how you can categorize your bank transactions: Download, match, and categorize your bank transactions in QuickBooks Online.

 

Lastly, I've you this helpful article in case you need to exclude some of your bank transactions: Exclude expenses from downloaded bank transactions.

 

If there's anything else that I can help you with, please let me know in the comment section down below. I'm always around happy to help.

AndrewN1
Level 2

GoPayment fees going into wrong account.

Hello,

 

I don't think you understand the problem so I will clarify. 

 

The bank data is correct, the bank feed transactions are correct. I'm not trying to categorize anything, I'm trying to match transactions. 

 

The reason I cannot match the GoPayment fee transactions is because Quickbooks Online automatically adds them to the incorrect account/register.  

 

There should be functionality that allows me to select the account/register where they should be automatically debited from. 

 

Regards,

JenoP
Moderator

GoPayment fees going into wrong account.

Thanks for clarifying the issue, Andrew.

 

There's actually a way to transfer a downloaded transaction to a different bank or register. Here's how:

 

  1. Select a transaction in the For Review tab.
  2. Click Record transfer.
  3. In the Select transfer account section, click the drop-down list and select the correct account.
  4. Click Record transfer.

Repeat the same steps for the rest of the transactions. 

 

I'd also like to share these quick guides with you just in case you might them in the future:

 

The Community is always here if you have other questions.

AndrewN1
Level 2

GoPayment fees going into wrong account.

Again, it has nothing to do with the bank feed.

 

The Software automatically adds these fees to the register!!! 

 

This is the memo the software adds. "System-recorded fee for QuickBooks Payments. Fee-name: DiscountRateFee, fee-type: Daily." 

 

I'll say it again. There needs to be a way to select what register these fees should be debited from.

impelos
Level 1

GoPayment fees going into wrong account.

Almost every support request I've seen is completely misunderstood by the bot or support representative.  

 

Do you think we could get this answered correctly?

KlentB
Moderator

GoPayment fees going into wrong account.

This isn't the kind of impression that I'd like you to have, AndrewN1 and impelos.

 

I'm here to share some information about how QuickBooks post the transactions to your bank account.

 

I understand that you've set up two bank accounts for your expense and income transactions. However, we can only connect one bank account in GoPayments or QuickBooks Payments as of the moment. That said, all the transactions, including the payments and fees, will be posted into the external bank account you pick.

 

I know that this process hasn't been easy for you. For now, you can manually recategorize the GoPayments fees so you'll be able to match them.

 

I also encourage sending feedback to our Product Development Team. We closely monitor our customers' ideas/suggestions and take them into consideration when prioritizing feature development. Here's how to do it:

 

  1. Click the Gear icon at the top, then choose Feedback.
  2. Enter your comments or product suggestions, then click Next.
  3. If you'll be provided a list of suggested articles related to your comment, select Skip and send message.
  4. Choose a category from the drop-down menu if applicable.
  5. Click Send message to complete the process.

Additionally, here's an article that you can read to learn how to switch the bank account QuickBooks Payments puts customer payments into.

 

If I can be of any other help, please don't hesitate to tag me in your posts and comments.

 

Sign in for expert help
Ask questions, post replies & join our community of QuickBooks users.

Need to get in touch?

Contact us