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Join nowI have been accepting Venmo payments for my services for years. For the first time one of my customers marked the transaction as a service and Venmo charged $1.62 for the $80 invoice. I am having hard time understanding hot to reconcile this transaction after reading couple of posts here. I crated the Venmo as vendor. But if I split the transaction open Invoice I have still looks unpaid .
What Am I doing wrong?
Please help
Solved! Go to Solution.
Hello @utkanf,
Welcome to the Community. I can help you handle the transaction in QuickBooks Online.
You'll need to open the invoice and enter a payment temporarily into the Undeposited Funds account. I recommend you follow this method to ensure the fee is deducted later on (see screenshot below).
Once done, please move the payment to the actual bank account by creating a deposit. From the Bank deposit screen, you can also add the fee for the service.
Please follow these steps:
For more information, as well as how to review past bank deposits, I recommend the following article: Record and make bank deposits in QuickBooks Online.
Keep me posted if you need anything else regarding recording processing fees in QuickBooks. Have a great day.
Hello @utkanf,
Welcome to the Community. I can help you handle the transaction in QuickBooks Online.
You'll need to open the invoice and enter a payment temporarily into the Undeposited Funds account. I recommend you follow this method to ensure the fee is deducted later on (see screenshot below).
Once done, please move the payment to the actual bank account by creating a deposit. From the Bank deposit screen, you can also add the fee for the service.
Please follow these steps:
For more information, as well as how to review past bank deposits, I recommend the following article: Record and make bank deposits in QuickBooks Online.
Keep me posted if you need anything else regarding recording processing fees in QuickBooks. Have a great day.
Thank you. That worked.
Good morning, @utkanf.
Thanks for coming back and letting us know how that went.
You're welcome! I'm so glad that we were able to help you out and fix this problem for you.
I'm only a post away if you need me again. Happy Friday!
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