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How to record a wire fee that has been deducted when receiving payment for an invoice?

 
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QuickBooks Team

Re: How to record a wire fee that has been deducted when receiving payment for an invoice?

It's nice to have you in the Community, keyestates.

 

QuickBooks Online aims to provide ways in recording transactions. And, I'd be glad to show how to track the wire fee amount deducted from your customer's payment. 

 

You can create a deposit to show the invoice payment and the wire fee deduction. Then, change the status of the invoice to paid by matching it to the deposit. 

 

To create a deposit:

  1. Go to the Plus icon, then choose Bank Deposit
  2. In the Receive From column, select the customer's name.
  3. Pick Accounts Receivable in the Account column and enter the amount of the invoice. 
  4. From the second line, choose the customer's name in the Received From column.
  5. Enter Wire Fee expense in the Account column, then enter the amount in negative
  6. Click Save and Close (see screenshot 1).

To match the deposit to the invoice:

  1. From the Plus icon, choose Receive Payment.
  2. In the Choose a customer field, pick the name of the customer. 
  3. Put check marks in the Invoice and the Deposit.
  4. Click Save and Close (see screenshot 2). 

Check out these articles for more details:

You're not set to record the transaction in QuickBooks Online. 

 

If you have additional questions, you can always reach back to me. I'll be around.

 

Happy Thanksgiving Day!

 

Bank Deposit.PNG Receive Payment.PNG

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