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Best answer March 27, 2023
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Hi Grimayoj!
Congratulations on getting a payment! I'll share a better way to record the service fee so that you can reconcile your transactions without issues.
Instead of creating a separate expense transaction for the $150 service fee, you'll want to deduct it when you deposit the invoice payment. This will leave you a net deposit amount of $4850, which happened in real life. Hence, you'll need to delete the expense transaction. Then, edit your invoice payment and make sure it uses the Undeposited Funds account in the Deposit to field so the payment can be deposited.
Receiving the invoice payment and using the Undeposited Funds account.
Depositing the invoice payment with a service fee.
You can also check about reconciling your bank account for your reference in the future.
If you have have any other concerns about the payment, feel free to comment below. I'm just around to help.
Hi Grimayoj!
Congratulations on getting a payment! I'll share a better way to record the service fee so that you can reconcile your transactions without issues.
Instead of creating a separate expense transaction for the $150 service fee, you'll want to deduct it when you deposit the invoice payment. This will leave you a net deposit amount of $4850, which happened in real life. Hence, you'll need to delete the expense transaction. Then, edit your invoice payment and make sure it uses the Undeposited Funds account in the Deposit to field so the payment can be deposited.
Receiving the invoice payment and using the Undeposited Funds account.
Depositing the invoice payment with a service fee.
You can also check about reconciling your bank account for your reference in the future.
If you have have any other concerns about the payment, feel free to comment below. I'm just around to help.
