1) What account head should I create for bank fees like, cheque book fees, debit card fees, management fees etc. 2) How should I make that booking?

It’s nice to have you here in the Community, jp-cpulimited.

Let me shed some light on categorizing bank fees in QuickBooks Online (QBO).

Bank service fees can be categorized under a variety of expense types. The Bank Charges expense category in QuickBooks is the one that is used the most frequently for this. With that, you can categorize these transactions into an Expense account.

If you don’t have this account yet in your Chart of Accounts (COA), you may follow the steps below to have one:

1. From the left navigation pane, select the Accounting menu.
2. Select the Chart of Accounts tab, and click the New button.
3. From the Account type, select Expenses.
4. In the Save account under section, select the Bank Charges under the Expenses category.
5.  Enter the details for the Account Name, Description, and the Starting date and opening balance.
6. Lastly, click Save.

Nonetheless, I suggest you consult your accountant about how you can create or book the following transactions in your company file. In that manner, we can ensure that information added are correct.

In addition, browse this article to learn more about categorizing transactions and reconciling them. This is done to ensure your books are balanced.

In case you have more questions about bank charges, please don’t hesitate to post them here. Have a good one!