Are you accepting payments through a merchant provider (ie: Stripe, PayPal, Square, or your local bank)?

I’ve been receiving questions about the proper way to handle these in QuickBooks in order to make sure the customer’s account and your bank account are both reflecting the payments properly.

Don’t forget to review how this type of expense is impacting the Profit and Loss.

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Customer Payment

  • Go to Customer’s Invoice to check details

Receive Payment

  • Enter Details (Customer, Payment Date, Payment Method, Deposit to: Undeposited Funds)
  • Enter Amount Received
  • Checkmark the invoice
  • Click Save & Close

Bank Deposit

    • Choose Account
  • Date
    • Under Received From, checkmark the payment you need to deposit
  • Under Add Funds to this Deposit, add the merchant fee details, choose account, and amount
  • Check the full deposit amount
  • Click Save & Close


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