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Level 2

As a contractor, most of our customers use financing to pay for the jobs. Banks charge us a "dealer fee". How do we record this fee without showing it on the invoice

 
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QuickBooks Team

As a contractor, most of our customers use financing to pay for the jobs. Banks charge us a "dealer fee". How do we record this fee without showing it on the invoice

Hello there, @georgegaviria1.

 

Thank you for posting here in the Community. I can help you record the fee without showing it on the actual invoice.

 

You'll need to create a new service item and select an expense account.

 

Here's how:

 

  1. Go to the Gear icon.
  2. Select Product and Services under Lists.
  3. Click New.
  4. Select Service.
  5. Add the name under Name  and select an expense account under Income account.
  6. Click Save and close.

 

After creating the item, create a credit memo and select the service you've created. Let me show you how.

 

  1. Click on the Plus (+) icon.
  2. Select Credit Memo.
  3. Select a customer and fill in the necessary information.
  4. Under Product/Service select the service item.
  5. Add the amount.
  6. Click Save and close.

Once done, you can check the transaction by running the Profit and Loss report.

 

  1. Click Reports at the left pane.
  2. Select Profit and Loss.
  3. Customize the date and run the report.

 

Let us know if you have any other QuickBooks concerns. We're always here to help!

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