Entering credit card fees when making a deposit
Say your customer has paid you $1000 using a credit card, but your bank statement shows the deposit as $960 because the credit card company charged a fee of $40. How do you
make the deposit in QuickBooks so that it calculates the difference?
- When you're making a deposit (Banking > Make Deposit), be sure to select only credit card payments to deposit.
- On the Make Deposits window, enter the total deposit as shown on your bank statement. QuickBooks then calculates the difference between what you charged your customer and what was actually deposited. This should equal the amount of credit card fees.
- Select an account for the credit card fees.
- (Optional) Enter a memo for the fees.
- Click OK.
Questions you may have
-
I process credit cards outside of QuickBooks. Can I still do this?
Yes. You must set up your
Payment Methods list to include any of
these methods. When you make a deposit with any of these payment methods selected, the credit card fees boxes appear on the Make Deposits window.
-
I can only select credit card deposits to use this feature. I have cash, check, and other deposits to make. Can I still make those?
Absolutely. When you make deposits, you're prompted to select which deposits you want to make. You can select only the credit card payments and make those deposits then click Payments and select the other deposits.
- MasterCard
- Master Card
- Visa
- VisaCard
- Visa Card
- American Express
- AMEX
- AmericanExpress
- Discover
- DiscoverCard
- Discover Card
- Diners
- Diners Club
- JCB
- Other Credit Card