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Easily resolve sales invoices underpaid due to bank charges
Is there an easy way to deal with sales invoice underpaid due to bank charges being levied. QuickBooks desktop lets you quickly write these off as bank charges. Can QBO do the same?
Hello there, @buzz21. I'd be happy to share the steps on how to handle bank charges in QuickBooks Online (QBO).
The first thing you need to do is to receive the full payment for the invoice. Here's how:
1. On the invoice, click the invoice on the Receive Payment button.
2. Select the correct invoice on the Receive Payment screen.
3. In the Deposit to field, choose Undeposited Funds.
The next thing we need to do is record a bank deposit. This is where we record bank fees. You can follow this steps below:
1. Click the QuickBooks + New Menu.
2. Select Bank Deposit.
3. Mark the invoice payment you received previously from the Select the payments included in this deposit section.
4. Expand the Add funds to this deposit section to add a new line item.
5. In the Received from column, enter the credit card fee as a vendor.
6. In the Account column, add an expense account for the fee.
7. In the Amount field, enter a negative fee amount.
8. Make sure the deposit matches the net bank deposit amount.
9. Click Save and close.
Additionally, If you also want to record bank deposits, check out this article: Record and Make bank Deposits in QuickBooks Online .
If you need further assistance, especially in recording bank charges, don't hesitate to reach out to us again. Enjoy your day!