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M
mindfullearning
November 10, 2025
Question

Venmo bank feed shows gross amount for transactions, not net; cannot match to deposits

  • November 10, 2025
  • 1 reply
  • 9 views

We have a charity profile with Venmo (as well as a personal profile). Both charity and personal transactions show up in the same bank feed. But incoming donations have a fee deducted when they go through the charity profile. 

So for example, a $5.00 donation has a $0.19 fee, and so we actually receive $4.81 from Venmo, and this is reflected on Venmo's statements that we can download from their website. 

 

For some reason, the Venmo bank feed on QBO only shows the gross amounts ($5). 

I create a deposit with a $5 sales receipt, and a -$.19 fee so that the Deposit shows $4.81 actually going into our Venmo account. 

But that $4.81 deposit doesn't match the $5 transaction in the bank feed, and I can't match it. 

Note that I can't just adjust the number to add up to $5 using QBO's "resolve the difference" feature. That makes it look like we received an additional $0.19 from nowhere. Instead, I want it to track the fact there's a $.19 fee... but why would the bank feed claim we received $5? We didn't actually receive $5. 

 

Is there a QBO solution to this? 

Or do I need to import this data some other way, like using a CSV? 

Is there an error on Venmo's end? 

I do NOT want to use journal entries to fix this if possible. 

 

Thank you for any help. 

1 reply

Morgan_B
Morgan_BQuickBooks Team
QuickBooks Team
November 10, 2025

Thanks for joining us here in the Community, mindfullearning.

 

I want to make sure you're able to get the donations and fees successfully entered in your QuickBooks Online account.

 

Some users have used the following steps in similar situations:

 

  1. Record Gross Payments to a Holding Account: In QuickBooks, record each individual customer payment for its full gross amount as a transaction into an "Undeposited Funds" (or "Venmo Clearing") account, not directly to your bank account. This correctly records your total income and increases your accounts receivable (if applicable).
  2. Record Venmo Fees: Simultaneously, record the transaction fees that Venmo deducts for each payment as an expense (e.g., "Bank Fees" or "Merchant Fees"). This can be done as a separate entry or as part of a split transaction.
  3. Group Payments for Deposit: When the actual net deposit hits your main bank account, use the "Bank Deposit" feature in QuickBooks to group the individual gross payments (less the fees) that make up that single lump sum deposit amount.
  4. Match the Deposit: The deposit transaction in your bank feed can now be matched to the single, combined deposit entry you created in your "Undeposited Funds" account. This will ensure your bank account balance in the software matches the physical bank statement.
  5. Use Statements for Detail: If your bank feed doesn't provide enough detail to easily group the transactions, log in to the Venmo website and download your monthly transaction history as a CSV file. This will provide a detailed breakdown of all payments and associated fees, which you can use to manually reconcile the amounts in QuickBooks. 

 

Alternatively, yes, you could also use CSV to get this data entered. The following article provides the details to manually upload transactions into QuickBooks Online. I recommend reaching out to your accountant to discuss the best method of entry for your books and business. 

 

Please don't hesitate to reach out if you have any other questions. The Community always has your back!

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