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Best answer February 10, 2022
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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:
- Click the + New option in the upper-left corner.
- Select Bank deposit under Other.
- Put a checkmark on the customer payment.
- Add the fee under Add funds to this deposit (you can use an expense account for the Venmo fees).
- Enter the amount as a negative number.
- Hit Save and close.
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:
- Click the + New option in the upper-left corner.
- Select Bank deposit under Other.
- Put a checkmark on the customer payment.
- Add the fee under Add funds to this deposit (you can use an expense account for the Venmo fees).
- Enter the amount as a negative number.
- Hit Save and close.
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.
