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book-verticalbal
Level 1

One of my business expenses is a bank account maintenance fee - under what expense category would that go?

 
Solved
Best answer November 25, 2020

Best Answers
SarahannC
Moderator

One of my business expenses is a bank account maintenance fee - under what expense category would that go?

Hello there, book-verticalbal.

 

In QuickBooks Self-Employed, you have options to categorize fees. It depends on where you would like them to record. You may want to use the Other essentials and Fees categories for the maintenance fee of your bank account. Here's how:

 

  1. Locate the transaction and select Business type.
  2. In the Category column, select Fees, Other essentials, or other options that fit for the maintenance fee.

 

For more details and tips, you can check this article: Learn how to categorize the transactions in QuickBooks Self-Employed (QBSE). To learn more about managing transactions within your book, you can visit these articles:

 

 

Let me know if you have other questions. Take care always and stay safe.

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6 Comments 6
SarahannC
Moderator

One of my business expenses is a bank account maintenance fee - under what expense category would that go?

Hello there, book-verticalbal.

 

In QuickBooks Self-Employed, you have options to categorize fees. It depends on where you would like them to record. You may want to use the Other essentials and Fees categories for the maintenance fee of your bank account. Here's how:

 

  1. Locate the transaction and select Business type.
  2. In the Category column, select Fees, Other essentials, or other options that fit for the maintenance fee.

 

For more details and tips, you can check this article: Learn how to categorize the transactions in QuickBooks Self-Employed (QBSE). To learn more about managing transactions within your book, you can visit these articles:

 

 

Let me know if you have other questions. Take care always and stay safe.

Flyin Ryan Freestyle
Level 1

One of my business expenses is a bank account maintenance fee - under what expense category would that go?

This option doesn't exist anymore in the section within Fees.

Flyin Ryan Freestyle
Level 1

One of my business expenses is a bank account maintenance fee - under what expense category would that go?

This option doesn't exist anymore under the Fees category.  Please help.

 

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AileneA
QuickBooks Team

One of my business expenses is a bank account maintenance fee - under what expense category would that go?

Hello, Flyin Ryan Freestyle. 

 

I suggest reaching out to our customer specialist support team, They have the tools to pull up your account and screen-sharing to help you checked and isolate this issue.  

 

Here's how: 

 

  1. Sign in to your QuickBooks company. Then select Assistant from the top bar. 
  2. Enter your questions. 
  3. Click Talk to a human
  4. Then select your preferred support method: Message an agent (Live chat), Call an agent, or Get a callback.  

 

I’m attaching an article with detailed steps on how to contact support for the Self-Employed product. Contact QuickBooks Self-Employed Support

 

Please know that the Community is always here to help you out to make you and your business easy and functional. Take care!

CoffeeFilledSunshine
Level 1

One of my business expenses is a bank account maintenance fee - under what expense category would that go?

I've been placing mine in Membership/subscriptions under Other Essentials. I don't always have that service charge. It's only when the credit union account get's below a minimum balance that the bank charges me $5 for that month. Any thoughts?

Jen_D
Moderator

One of my business expenses is a bank account maintenance fee - under what expense category would that go?

Thanks for joining this thread and sharing your concern with us, @CoffeeFilledSunshine.

 

It is essential to use the right categories to report the amounts accurately when you file taxes. Sharing some insights to help you with your transaction categories.

 

If you're unsure where to post memberships/subscriptions or having a hard time categorizing tricky transactions, we always recommend working with a tax professional to decide how to account for these transactions. We can only give you some basic accounting help here in this forum, but they can guide you with in-depth details.

 

Anyway, you can review everything in this category at the end of the year. You can use TurboTax or the tax professional's help to post the entries correctly.

 

You can check these articles about expenses and how to categorize them:

 

 

Please post here again if you have other Self-Employment concerns. We're always here to help you out. Have a nice day!

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