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Re: Daily Sales Summary, how to enter on account charges for customers and employees

This just means your CC provider doesn't take our the fee Up Front, then: "The credit cards is the one thing in undeposited funds that always does match the bank feed download as credit cards are deposited daily and fees are charged at the end of each month"


And you found the Point: Do what matches Reality. Everyone has a different reality, different providers, etc.


"I just assumed everything needed to go to UF to then make deposits in QB to match bank feed"


Okay, but that is Two Parts. Yes, everything in QB needs to have the end result match what the Bank Feed shows. No, that means some people Have to Bypass UF, for the very reason that their activities are not that exact same amount In and Out. The settlement concept is not More Work; putting the Payments into a place you can handle them is the same requirement for everyone. And the "UF" account that has a huge amount in your reality, is holding Both CC and all these amounts you only take to the bank twice a month. So, you forgot to Put it where it Went, in reality. UF is not a place from which to manage the movement if you use that Cash, for instance. You told us this: "I do not have a bank in my town so i do deposits twice a week,"


Which is Not This: ""I never considered multiple bank type accounts and using transfers as it seems like a lot more work to transfer from multiple accounts to a single checking account daily"


"for example how to adjust sales tax as i get a discount paying online, with sales tax enabled"


Don't enable it in QB. That blog explains how to do it; no two systems compute the same. My first example with details explained it, too. Sales taxes = your Liability. You pay it out. If you don't have to pay out all of it, the Check Entry in QB is like this:

Items tab, listing the Sales tax liability (the same item you used as Positive in the sales receipt) $1,000

Next, click on the Expenses tab and use an Other Income account you name "Sales Tax Credits" and put this holdback as Negative; example: -$10.00


Net check = $990.


The reduction or credit is Income to you, because you got to keep customer funds collected as Tax to send in. It wasn't yours, at first. It is Yours, now.


"i make an income account"

Other Income is fine.


Never Do this: "and use journal entry in sales tax liability account ?"


No; do it on the Payment, so that you can show Gross Liability owed, but negative Holdback to create Net Payout. You hardly ever use Journal Entries in QB. You want this to be part of Banking with Payee Names. Not JE.


For using QB, you bought a Program with an interface = Tools that are normal things, like Write Check and Make Deposit. Not Debit-Credit; that happens behind the scenes of every transaction.