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Community Contributor *

Matching Sales Receipt to Credit Card Transaction? Small service biz, clients pay me immediately, usually checks, no invoices. I create a Sales Receipt in QBO then match when bank deposit appears. Can't match with my infrequent credit cards because of fee, how do I handle?

 
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Best answer a month ago

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QuickBooks Team

Re: Clients pay me immediately, no invoices. I create a Sales Receipt in QBO then match when bank...

Hi again, BridgetAG.

 

Welcome to the Community. Allow me to step in and provide additional insights into matching transactions in QuickBooks Online.

 

Yes, you're on the right track with depositing the transaction first in the Undeposited Funds account and making the bank deposit in QuickBooks. For the fees, you can create a separate expense account from the deposit section and add the amount in negative figures.

 

Here are the detailed steps:

 

  1. Click the Plus sign.
  2. Select Sales Receipt.
  3. Below Deposit to, select Undeposited Funds.
  4. Enter necessary information.
  5. Click Save and close.
  6. Click the Plus sign again.
  7. Select Bank Deposit.
  8. Select the sales receipt.
  9. Below Add funds to this deposit, add the expense account with a negative amount.
  10. Click Save and close.

For your visual guide, please refer to these screenshots:

 

 

 

 

 

For additional information on matching bank transactions, please see this article:

 

Download, match, and categorize your bank transactions in QuickBooks Online.

 

Please touch base with me here for all of your QuickBooks needs, such as matching transactions from Bank Feeds. The Community wants to ensure your success.

3 Comments
QuickBooks Team

Re: Clients pay me immediately, no invoices. I create a Sales Receipt in QBO then match when bank...

I'd be happy to help you handle the fee to match your transaction, 

BridgetAG.

 

You can deposit your sales receipt, and add another line for the fee. Then, enter a negative number to reduce the deposit amount. After this, you can match the bank transaction to the deposit. I got a sample similar to this from my sales receipt with PayPal fees.

 

 

Please note that you can only deposit the sales receipt if you use Undeposited Funds account in the Deposit to field of the Sales Receipt page.

 

You can always go back to this thread if you have other questions.

Community Contributor *

Re: Clients pay me immediately, no invoices. I create a Sales Receipt in QBO then match when bank...

There was no link to another thread but I think this may solve it! Is this correct?

  • Create a Sales Receipt and put Undeposited Funds in Deposit To area.
  • When the Bank Deposit arrives, connect it to the original Sales Receipt but also add the fee amount as a additional (negative) deposit.

If I have Credit Card Fee as an expense account, will it show up there? What do I need to do structurally to have that fee automatically recorded as an expense? And thank you!

QuickBooks Team

Re: Clients pay me immediately, no invoices. I create a Sales Receipt in QBO then match when bank...

Hi again, BridgetAG.

 

Welcome to the Community. Allow me to step in and provide additional insights into matching transactions in QuickBooks Online.

 

Yes, you're on the right track with depositing the transaction first in the Undeposited Funds account and making the bank deposit in QuickBooks. For the fees, you can create a separate expense account from the deposit section and add the amount in negative figures.

 

Here are the detailed steps:

 

  1. Click the Plus sign.
  2. Select Sales Receipt.
  3. Below Deposit to, select Undeposited Funds.
  4. Enter necessary information.
  5. Click Save and close.
  6. Click the Plus sign again.
  7. Select Bank Deposit.
  8. Select the sales receipt.
  9. Below Add funds to this deposit, add the expense account with a negative amount.
  10. Click Save and close.

For your visual guide, please refer to these screenshots:

 

 

 

 

 

For additional information on matching bank transactions, please see this article:

 

Download, match, and categorize your bank transactions in QuickBooks Online.

 

Please touch base with me here for all of your QuickBooks needs, such as matching transactions from Bank Feeds. The Community wants to ensure your success.

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