Intuit Payment Solutions Transaction Fees- How Do I Enter Them

Hull Diver · ‎November 23, 2020

I am reconciling my bank account for the first time. My bank statement shows entries for Intuit Payment Solutions Transaction Fees, which I assume are the fees Intuit charges me each time a batch of credit card payments to me are processed. My question is; how should I record these fees in QuickBooks Desktop Pro 2018? Thanks.

AileneA · ‎November 23, 2020

Hello, Hull Diver.

Thank you for reaching out to the Community. You can create an expense to record your processing fees that included the payment amount. Let me guide you how.

Go to Banking.
Click the Write Checks.
Under Account click the drop-down menu.
Locate the Processing Fee, then enter the amount.
Hit Save and Close.

To learn more about your bank feeds and also for the bank transactions such as reconciling your bank account, you can visit our QuickBooks Desktop Help Article for the guidance.

For future reference, you'll want to categorize bank transactions in QuickBooks: Add and match Bank Feed transactions in QuickBooks Desktop.

Please let me know if you need further assistance with recording the fee. I'll be available to help you anytime. Have a great day!

View solution in original post

AileneA · ‎November 23, 2020

Hello, Hull Diver.

Thank you for reaching out to the Community. You can create an expense to record your processing fees that included the payment amount. Let me guide you how.

Go to Banking.
Click the Write Checks.
Under Account click the drop-down menu.
Locate the Processing Fee, then enter the amount.
Hit Save and Close.

To learn more about your bank feeds and also for the bank transactions such as reconciling your bank account, you can visit our QuickBooks Desktop Help Article for the guidance.

For future reference, you'll want to categorize bank transactions in QuickBooks: Add and match Bank Feed transactions in QuickBooks Desktop.

Please let me know if you need further assistance with recording the fee. I'll be available to help you anytime. Have a great day!

Whatsgoodhere · ‎October 09, 2023

How do I reconcile in QB Online? I am marking the bank data as an expense: QuickBooks transaction fees which is making duplicate entries.

Rubielyn_J · ‎October 09, 2023

Thank you for reaching out with your question about reconciling in QuickBooks Online, @Whatsgoodhere.

I'm here to assist you in resolving this issue and guide you through reconciling accurately and managing your bank data.

But before that, can you share more details about your concern? How did you record the fees, and what are the affected transactions? Does QuickBooks fees show as separate in your banking? Or was the deduction already made by the time you received the payments? Any additional information and screenshots you can provide would be greatly appreciated. Our goal is to ensure that we offer you precise steps and accurate information to resolve this matter.

Just like balancing your checkbook, you can also review your accounts in QuickBooks to make sure they match your bank and credit card statements. To learn how to reconcile your accounts so they always match your bank and credit card statements, you can check out this article: Reconcile an account in QuickBooks Online.

Your reply below with more information is highly valued. We eagerly await your response.

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Intuit Payment Solutions Transaction Fees- How Do I Enter Them