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Robert M.
Robert M., Consultant
Category: Financial Software
Satisfied Customers: 8947
Experience:  30 yrs. of computer experience in financial and marketing departments.
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Using Quick Books Pro 2014 and just started taking credit cards.I

Customer Question

Using Quick Books Pro 2014 and just started taking credit cards.I have an open invoice for $425.78 and received payment from credit card processor for $417.35. So theres a fee for $8.40, I also received an invoice from the card gateway company for $11.23. Where do iut these charges in QB and how do I reconcile the invoice of $425.78 with the deposit of $417.35?
Submitted: 1 year ago.
Category: Financial Software
Expert:  Robert M. replied 1 year ago.
Hi, I'm Robert and I'll be helping you with your financial software question.
QuickBooks recommends adding a line to the deposit with the fee amount
https://support.quickbooks.intuit.com/support/pages/inproducthelp/core/qb2k13/contentpackage/verticals/retail/rr_credit_cards_discount_fees.html
Customer: replied 1 year ago.

I don't understand what support at QB was saying in that link. But a problem is also with the invoice. Its for $425.78 but I received a payment for $417.35. The invoice in QB is expecting a deposit of $425.78 but the actual deposit is less. How do I make the invoice and the deposit agree? ANd the fees, where do I enter them and charge to what account?

Expert:  Robert M. replied 1 year ago.
Does the QuickBooks give you an option to write off the amount it is different. Usually it does. That will make the invoice match and put the difference into a bad debt account
The extra fee you can just put in as accounts payable
Customer: replied 1 year ago.

I don't know if it gives that option. Where would I find that?

Expert:  Robert M. replied 1 year ago.

Another thing that you can do is write a credit memo against the invoice for the fee

Customer: replied 1 year ago.

That makes no sense. Companies use these kind of processors all the time. There has to be a standard procedure to use here. Writing it off as bad debt makes no sense as its not bad debt its a fee. And write a credit memo? Its not a credit, its a fee. I don't want to rate you poorly as you are not giving poor service, it just makes no sense. Can you bow out and allow me to ask other experts?

Expert:  Robert M. replied 1 year ago.

I sent you the instructions from quickbooks on how to do it as a fee.

As that was not good enough for you I will opt out