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How to record the wire fees in case of receipt of payment against invoice?

 
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QuickBooks Team

How to record the wire fees in case of receipt of payment against invoice?

I'm here to guide you in recording fees, accounts259.

 

Let's record an invoice payment first in full amount. Then, we can deduct the wire fee when making a deposit. You can follow these steps:

  1. From the + New button, click on Receive payment.
  2. Select the Customer and enter the required details.
  3. On the Outstanding Transactions section, check the invoice you want to pay.
  4. Make sure that the Deposit to is the Undeposited Funds. Hit Save and close.

Once done, click again the + New button and choose on Bank deposit. Select the Account to where you want to deposit the payment. Loacte and check the payment you created on the Select the payments included in this deposit section. On the Add funds to this deposit, select an Account to where you want to track the fee and fill in the other details needed. Then, enter the fee amount as a negative (example: -10). Let's click Save and close.

 

You can check your register to review all the transactions you've created. Simply go to the Accounting tab and select Chart of Accounts. Aside from that, you can now match the deposit when downloading the bank transactions since they have the same amount already. You can check this article for your reference:

Leave a reply anytime if you need more assistance. Have a great day!

 

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