Hi @joeo1lci, You can record it as a deposit, it will offset the original fee in the bank or whatever expense account you're using. Let me show you how.Here's how to create bank deposit: Click the New menu at the top (+) and select the Bank Deposit. Select a bank account in the Account field. Go to the Add funds to this deposit section. In the Account column, enter Credit Card transaction fees. Enter the amount as a negative. Click Save and close. If you mean to record a bank fee, here's how: Select the Plus icon (+) then choose Expense. Enter the following information: Payee: Leave the field blank or enter the name of the bank. Bank account: The name of the bank where the bounced check was issued. Date: The date the bank charged the fee. Ref Number: Enter "bounced check charge" if the charge does not have a reference number. Account: Set this to the account you use for bank fees (e.g. Bank fees expense account). Amount: Amount of the bank fee. 2. Select Save. For your visual reference, you can also check out this helpful article: Record Bank Deposits in QBO. Leave a comment below if you have further questions. I'm always glad to help. Have a great day.

Question

How to record usually BANKCARD 1161 MTOT DEP like this transaction in Quickboks Online?

Forum|Forum|6 years ago
February 2, 2020
1 reply
9 views

No text available

QuickBooks Online

M

MaryAnn_E

Level 4

Hi @joeo1lci,

You can record it as a deposit, it will offset the original fee in the bank or whatever expense account you're using. Let me show you how.

Here's how to create bank deposit:

Click the New menu at the top (+) and select the Bank Deposit.
Select a bank account in the Account field.
Go to the Add funds to this deposit section.
In the Account column, enter Credit Card transaction fees.
Enter the amount as a negative.
Click Save and close.

If you mean to record a bank fee, here's how:

Select the Plus icon (+) then choose Expense. Enter the following information:

Payee: Leave the field blank or enter the name of the bank.
Bank account: The name of the bank where the bounced check was issued.
Date: The date the bank charged the fee.
Ref Number: Enter "bounced check charge" if the charge does not have a reference number.
Account: Set this to the account you use for bank fees (e.g. Bank fees expense account).
Amount: Amount of the bank fee.

2. Select Save.

For your visual reference, you can also check out this helpful article: Record Bank Deposits in QBO.

Leave a comment below if you have further questions. I'm always glad to help. Have a great day.

D

dstewart2394

Hi MaryAnn,

How to record BANKCARD 8710 MTOT DISC? Merchant account fees?

A

Anonymous

Thanks for joining this thread, @dstewart2394.

If you're linking this fee with a sales receipt or invoice payment, you can create a bank deposit and put the Merchant fee under Add funds to this deposit section by putting a negative sign before the amount. Doing this will offset the total amount of the bank deposit and be able to match it with a bank deposit transaction.

You can follow the steps below:

Sign in to your QuickBooks Online account.
Click on the + New menu at the top and select the Bank Deposit.
Choose a bank account in the Account field.
Check the Sales receipt/Payment box.
Go to the Add funds to this deposit section.
In the Account column, enter Credit Card transaction fees.
Enter the amount as a negative.
Hit on Save and close.

Otherwise, you can create an expense if this merchant fee is a separate expense BANKCARD 8710 MTOT DISC transaction.

Click on the + New menu at the top and select the Bank Deposit.
Choose a bank account in the Account field.
Under Category details, select an expense account.
Enter the expense Amount.
Hit on Save and Close.

For more information: Record and make bank deposits in QuickBooks Online.

You may want to visit this article to learn how to add transactions directly to an account register moving forward: Manually add transactions to account registers in QuickBooks Online.

Let me know if you have additional concerns besides your inquiry about bank deposits in QuickBooks Online. We're here to assist you at any time.

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