cancel
Showing results for 
Search instead for 
Did you mean: 
basicburgerpr
Level 1

Trying to add the credit card fees that are removed from my sales by my POS before depositing to sales and then adding them as an expense on P

My pos company automatically deducts the credit card fee each night before depositing into my account. I would like to show this total in my sales to show actual expense percentages and then show it again as an expense so it will still balance at the end
3 Comments 3
Mark_R
Moderator

Trying to add the credit card fees that are removed from my sales by my POS before depositing to sales and then adding them as an expense on P

Adding the credit card fee on your sales transaction is easy peasy, @basicburgerpr.

 

In QuickBooks Online (QBO), you can manually add the credit card fee as another line item on the invoice. This way, you can track the credit card fee. Let me guide you through the process.

 

First off, you'll need to create a service item for the credit card fee. Here's how:

 

  1. Sign in to your QBO account.
  2. Click the Gear icon and select Products and Services.
  3. Select New, then choose Service.
  4. Enter the name of your item (Example: Credit Card Fee).
  5. Click Save and Close.

 

Once done, you can now add the fee to the invoice. Please follow the steps below:

 

  1. Click the + New button, then select Invoice.
  2. Select the name of the customer.
  3. Enter the necessary information.
  4. Add the service item that you've created on the second line.
  5. On the Amount column, enter a negative amount for the fee.
  6. Click Save and Close.

 

I'm adding this article to learn more about the common industry terms to process credit cards in QBO: Accept credit card payments in QuickBooks Online.

 

In the future, you might want to refund credit card transactions. This article will guide you through the steps: Void or refund transactions.

 

Our doors are always open to help you again if you have any other concerns or follow-up questions about adding credit card fees. Have a pleasant day ahead.

judybates76065
Level 1

Trying to add the credit card fees that are removed from my sales by my POS before depositing to sales and then adding them as an expense on P

In the desktop version you can easily link an expense in an invoice to the correct expense transaction type. Is there a way to do this in the online version? This answer just creates a negative income line.

Angelyn_T
QuickBooks Team

Trying to add the credit card fees that are removed from my sales by my POS before depositing to sales and then adding them as an expense on P

I appreciate you for joining the thread, @judybates76065

 

Yes, you can link your expense transaction to an invoice in the QuickBooks Online (QBO version. You can do this using the billable expense feature. Let me give you more details about this.

 

A billable expense is an expense you collect on your customer’s behalf when you perform work for them. You can easily record and track billable expenses so your customer can reimburse them when they receive their invoice. Recording billable expenses are currently available for QBO Plus and Advanced users.

 

If you're using QBO Plus or Advanced, you can enable the feature following these steps:

 

  1. Sign in to your QBO account.
  2. Click on the Gear icon, then select Account and Settings.
  3. Go to the Expenses tab.
  4. From the Bills and expenses section, select Edit or the pencil icon.
  5. Turn on the following:
    • Show Items table on expense and purchase forms
    • Track expenses and items by customer.
    • Make expenses and items billable.
  6. (Optional) Set up the following:
    • Markup rate
    • Billable expense tracking
    • Sales tax charge
  7. Bill payment terms.
  8. Select Save, then Done.

 

After that, you're now ready to enter a billable expense and add the transaction to your invoice. For more details, open this article: Enter billable expenses.

 

In case you're using the lower versions of QBO, you may consider upgrading your subscription.

 

For additional resources, while tracking your income and expenses in the future, you may check out the topics from these links:
 

 

If you have any other questions while handling your expenses or invoices in QBO, let me know by adding a comment below. I'm more than happy to provide additional assistance. Wishing you a good one!

Sign in for expert help
Ask questions, post replies & join our community of QuickBooks users.

Need to get in touch?

Contact us