Handling Merchant Fee in QB Online

[@CandusKampfer]

Are you more comfortable not with entering your merchant fees?

[@512kjt]

Yes, thank you!

[@FoundMyBrave]

Thank you for this! Such a helpful video and I love your personality to boot! It’s nice to have someone explain it in terms that make sense.

[@CandusKampfer]

Hi! Thanks for reaching out. I'm so glad you found our video helpful 🤗 If you’d like to learn more about how to optimize QuickBooks for your business, I recommend checking out our Confidence with QuickBooks program. You can learn more here: ConfidencewithQuickBooks.com Have a great day, Samantha, Team Candus

[@Lorgayle1]

I just watched your same video for QuickBooks Desktop. In the comments I saw someone asking about QBO, and you had already provided a link (which brought me here). This video was a lifesaver for me. Thank you .

[@CandusKampfer]

Hi @Lorgayle1, Glad it helped you. Have an amazing day! ~ Team Candus P.S. We’d love to connect with you! Find us on ↓ Instagram: instagram.com/candus.kampfer Facebook: facebook.com/CandusKampfer TikTok: www.tiktok.com/@canduskampfer

[@PeggyDorriety]

Thank you! This was perfect info that I needed.

[@CandusKampfer]

Hi Peggy, Thank you for reaching out. We're so happy to hear that our tutorial was exactly what you needed 🥳 To learn more about how to navigate QuickBooks, I recommend checking out our Confidence with QuickBooks program. You can learn more by attending our Customizing QuickBooks Workshop. Save your seat here: CandusKampfer.com/workshop Have a great day, Samantha, Team Candus

[@DonnaJohnson-c6l]

This video was very helpful! Thank you!

[@CandusKampfer]

Hi Donna, Thanks for reaching out. I'm so glad you found this tutorial helpful! If you’d like to learn more about how to optimize QuickBooks for your business, I recommend checking out our Confidence with QuickBooks program. To learn more you can attend our Customizing QuickBooks workshop. Save your seat here: CandusKampfer.com/workshop Have a great day, Samantha, Team Candus

[@DonnaJohnson-c6l]

@@CandusKampfer Yep! I already signed up for my first class and I'm looking forward to it. :)

[@CandusKampfer]

Hi Donna, That's awesome! I'm so happy to hear that you've already registered for our workshop 🤗 We can't wait to see you there. Have a great day, - Samantha, Team Candus

[@dkwoodard3779]

Do you have a video that shows how to enter payment when the merchant fee is added to the customer invoice but it was higher than the square fee taken out?

[@CandusKampfer]

Hello, Sorry, we don't currently have a video on this. I will add your question to the list Candus uses to create new QuickBooks tips each month. The best possible way for you to receive support from Candus is to register for and attend her workshop. Here is the link to register to attend: canduskampfer.com/workshop Have a great day! Kindra ~ Team Candus P.S. We’d love to connect with you! Find us on ↓ Instagram: instagram.com/candus.kampfer Facebook: facebook.com/CandusKampfer TikTok: www.tiktok.com/@canduskampfer

[@TheWilders]

I usually match with the bank deposit then use the "resolve" button to make the adjustment.

[@21scrts]

God bless you!! Thank you so much for this!! HUGE HELP 🙂

[@CandusKampfer]

Hi, Thank you for reaching out. We're so happy to hear you found our tutorial helpful! If you’re looking for additional QuickBooks trainings, email us at [e-mail] and we’ll point you in the right direction 🤗 Thanks for being a part of our community, Have a great day, Samantha, Team Candus

[@andreahaldeman8157]

Thank you so much for clearing that up!! It helped tremendously!!

[@CandusKampfer]

Yay! Glad it helped you, Andrea. 😊 If you haven't already joined our weekly QB Tips & Tricks, click here to join and we'll send you our tips straight to your inbox: canduskampfer.com/weeklytips Have an amazing day! Elaine ~ Team Candus P.S. We’d love to connect with you! Find us on ↓ Instagram: instagram.com/candus.kampfer Facebook: facebook.com/CandusKampfer TikTok: www.tiktok.com/@canduskampfer Pinterest: pinterest.com/canduskampfer/

[@quadtraxxx]

I've spent hours trawling through forum after forum posting comments in the hope I could find how to sort this on my quickbooks account!! I can't thank you enough!! My wife is massively appreciative as well!!!! Thank you thank you thank you!!!!!!

[@CandusKampfer]

Hi, Thanks for reaching out. We're so happy that you found our tutorial helpful 🤗 If you’d like to learn more about how to optimize QuickBooks for your business, I recommend checking out our Confidence with QuickBooks program. To learn more you can attend our QuickBooks Workshop. Save your seat here: CandusKampfer.com/workshop Have a great day, Samantha, Team Candus

[@KansasHandyman]

Super helpful for what I needed help with!

[@CandusKampfer]

Hi, I'm so glad you found our video helpful! If you’d like to learn more about how to optimize QuickBooks for your business, I recommend checking out our Confidence with QuickBooks program. To learn more you can attend our Customizing QuickBooks workshop. Save your seat here: CandusKampfer.com/workshop Have a great day, Samantha, Team Candus

[@matthewbeaudoin2096]

Hi Candies. I accept deposits through Venmo and they charge a fee. I have been accepting the payments through the bank download. It already takes out for the fees. I think I have to input each one with the negative number for the merchant fee. does this mean that my revenue will increase, because what is downloading is not true amount that I am charging?

[@globalcellulars5911]

Hello Candus, I have been looking for a solution for a different problem i am facing In my store i accept utility payments for customers like power bill, phone bill and water bill. I use a website to process the payments and on my QuickBooks i cannot record it properly as it shows as 100% profit. Is there a way to make an item that isn't inventory nor service but based on percentage? Thank you

[@CandusKampfer]

Hi, Thank you for watching our video. If you're interested in more in-depth training on how to handle this, I recommend checking out our Confidence with QuickBooks program. To learn more you can attend our Customizing QuickBooks workshop. Save your seat here: CandusKampfer.com/workshop Have a great day, Samantha, Team Candus

[@theAmandaShay]

Hello @CandusKampfer, My first month without my bookkeeper. I followed the very detailed video; thank you! However, QB automatically marked the invoice as paid in full and does not appear in the receive payment section. How can I capture the Bank Fee Expense?

[@CandusKampfer]

Hi Amanda, Thanks for reaching out. Woo hoo! I'm so glad you found this video helpful 🤗 If the fee comes out of the daily deposits vs a monthly fee, you do it in the deposit. If you’d like to learn more about how to optimize QuickBooks for your business, I recommend checking out our Confidence with QuickBooks program. To learn more you can attend our Customizing QuickBooks workshop. Save your seat here: CandusKampfer.com/workshop Have a great day, Samantha, Team Candus

[@lenalzheng]

What would you do if the merchant fee appears in bank statements as its own separate transaction? Every time I try to categorize it, it categorizes it as a cheque.

[@CandusKampfer]

Hi, Thanks for reaching out. Enter it in manually through an expense or in the bank feed. It will go against merchant fees (or whatever you want to use). If you’d like to learn more about how to optimize QuickBooks for your business, I recommend checking out our Confidence with QuickBooks program. To learn more you can attend our Customizing QuickBooks workshop. Save your seat here: CandusKampfer.com/workshop Have a great day, Samantha, Team Candus

[@christianmartin20]

Thank you! Very helpful!

[@CandusKampfer]

Hi Christian, Thanks for reaching out. I'm so happy to hear that you've found our video helpful! If you’d like to learn more about how to optimize QuickBooks for your business, I recommend checking out our Confidence with QuickBooks program. To learn more you can attend our Customizing QuickBooks workshop. Save your seat here: CandusKampfer.com/workshop Have a great day, Samantha, Team Candus

[@danieljackson3125]

Really helpful, thank you!

[@CandusKampfer]

Hi Daniel, Thanks for reaching out. I'm so happy you found this video helpful 😊 If you’d like to learn more about how to optimize QuickBooks for your business, I recommend checking out our Confidence with QuickBooks program. To learn more you can attend our Customizing QuickBooks workshop. Save your seat here: CandusKampfer.com/workshop Have a great day, Samantha, Team Candus

[@user-yc2eh9ki9u]

Qbo merchant do it wrong g do you have an video for it

[@CandusKampfer]

Hi, Thanks for checking out our tutorial! We have trainings where we teach topics like this in more depth. If you'd like to learn more about our programs, email us at [e-mail] 🤗 Thank you for being a part of our community, Have a great day, Samantha, Team Candus

[@JennieTMiller]

I found your video super helpful! I now know what I was missing when doing my books for my merchants that have fees. I do have a quick question. When I am creating my bank deposit and splitting between the merchant fees and undeposited funds. Would I also split out the sales tax that the customer paid with the purchase?

[@JennieTMiller]

Actually now that I am thinking about it, the Sales Receipt already has Sales Tax Payable. Clearing it would be when I pay the Sales taxes to the State right?

[@CandusKampfer]

Hi Jennie, Yes, that's perfect! If you'd like to learn more about how to customize QuickBooks to your business, you learn more here: ConfidencewithQuickBooks.com Have a great day, Sam, Team Candus

[@nurozkent2511]

how can I record payment to vendor with merchant fees, which were passed on to supplier?

[@CandusKampfer]

Hi, Thank you for watching our video. If you're interested in more in-depth training on how to record your payments to a vendor with merchant fees, I recommend checking out our Confidence with QuickBooks program. To learn more you can attend our Customizing QuickBooks workshop. Save your seat here: CandusKampfer.com/workshop Have a great day, Samantha, Team Candus

[@caseymoore6867]

THANK YOU!

[@CandusKampfer]

Hi Casey, I'm so glad you found this video helpful 🥳 Have a great day, Samantha, Team Candus

[@loralifine5036]

This video was super helpful!! But, now I'm having trouble getting the manual deposit we to match with the square deposit. I originally didn't have the Square processing fees on the customer invoice but it wouldn't match. So I tried adding the Square processing fee to the customer invoice then doing the process you showed in the video and it seems to have worked. However, im concerned about having the Square processing fees on the customer invoice and having the Square merchant fees on the bank deposit. Is it an issue to have the fees in both places?

[@CandusKampfer]

Thank you for watching our videos 😊 The best possible way for you to receive support from Candus is to register for and attend her workshop. Here is the link to register to attend: canduskampfer.com/workshop Have a great day! Ednalyn ~ Team Candus P.S. We’d love to connect with you! Find us on ↓ Instagram: instagram.com/candus.kampfer Facebook: facebook.com/CandusKampfer TikTok: www.tiktok.com/@canduskampfer

[@tammybeaudry3435]

What if my fees are taken out of my bank account in a separate transaction?

[@CandusKampfer]

Hi Tammy, Thank you for reaching out. You would need to do them individually. If you'd like additional support, you can check out our Customizing QuickBooks workshop here: CandusKampfer.com/workshop Have a great day, Samantha Team Candus

[@melindasmith2169]

I'm an independent hairdresser and on a cash basis accounting system. I enter all my daily transactions into a memorized journal entry daily. This was set up by a CPA years ago when I had a bigger salon. I now work from home, so I've been trying to handle all the accounting by myself and not doing as good of a job as I'd like. One of my struggles is with the merchant information and reconciling the merchant account. I've looked back at how the CPA was closing the account out every month, but not understanding it all. I know how to reconcile my bank statement and credit card statements, but I struggle with how to handle the statement from my merchant account. Is there a video on this anywhere on youtube or on your website?

[@CandusKampfer]

Hi Melinda, The problem may be that the merchant deposits do not match the actual bank deposits? This can happen if you're not "depositing" the same amounts in QB as what the merchant is. If you are using sales receipts/invoices to accept payments, you can deposit them into Undeposited Funds and then checkmark all of the payments in the deposit screen minus the merchant fee into the bank account at the same time to match what was actually deposited. Then reconciling should be a breeze. Here is a video on Undeposited Funds that may help: kzbin.info/www/bejne/mXzQY42XebF2bq8 Have a great day! Kindra ~ Team Candus P.S. We’d love to connect with you! Find us on ↓ Instagram: instagram.com/candus.kampfer Facebook: facebook.com/CandusKampfer TikTok: www.tiktok.com/@canduskampfer

[@joanngonzales5023]

What if I charged my customer the fees? How do I record that?

[@CandusKampfer]

Hi Joann, Thank you for watching our video. If you're interested in more in-depth training on how to record your fees when you charge your customer, I recommend checking out our Confidence with QuickBooks program. To learn more you can attend our Customizing QuickBooks workshop. Save your seat here: CandusKampfer.com/workshop Have a great day, Samantha, Team Candus

[@AbdulRehman-s8i2r]

Hi @Candus Kampfer Can yio please help me to record a Merchant Fee Income (Charge to Customer) correctly?

[@CandusKampfer]

Hi @user-hd1pt8oc9t, Thank you for watching our videos 😊 The best possible way for you to receive support from Candus is to register for and attend her workshop. Here is the link to register to attend: canduskampfer.com/workshop Have a great day! ~ Team Candus P.S. We’d love to connect with you! Find us on ↓ Instagram: instagram.com/candus.kampfer Facebook: facebook.com/CandusKampfer TikTok: www.tiktok.com/@canduskampfer

[@JBoice4617]

omg! your awesome.

[@CandusKampfer]

Hi @JBoice4617, Oh my gosh, thank you so much! We love hearing this. 🙏🏻 If you haven't already joined our weekly QB Tips & Tricks, click here to join, and we'll send you our tips straight to your inbox: canduskampfer.com/weeklytips Have an amazing day! ~ Team Candus P.S. We’d love to connect with you! Find us on ↓ Instagram: instagram.com/candus.kampfer Facebook: facebook.com/CandusKampfer TikTok: www.tiktok.com/@canduskampfer