reconciling credit card payment fees

teardropvideo

I use Square Credit Card Service to process customer credit card payments.
Example: Invoice amount - $25.00, Amount deposited in my business bank account - $23.97, Square keeps $1.03.
How do I record the fee on the invoice? And reconcile the difference from what is billed on the invoice and what is posted to the business bank account?

Quicken_Tyka

Hello @teardropvideo

Thank you for the response, although I am sorry to hear that the trouble continues to persist.

At this time I would recommend contacting support directly for advanced troubleshooting steps.

https://www.quicken.com/support#contact-support

Quicken Care has the ability to initiate a screen share to view the issue in real-time to review and research this further.

Thank you,

-Quicken Tyka

splasher

I'd do a split of the deposit.

Net amount shown in register is $23.97

First line of split is $25 being applied to the invoice

Second line of the split is -$1.03 categorized as the "service fee".

teardropvideo

1). I enter the $25.00 via "Receive Payment" pop-up on Customer's Invoice page.
2). When I reconcile the Business Bank account, I download transactions from the bank.
3). In the business checking account I split the $25.00 between invoiced amount and "Merchant Fees".
4). There are now 2 entries in my checking account for the customer and the balance is overstated.

Quicken_Tyka

Hello @teardropvideo

Thank you for the response, although I am sorry to hear that the trouble continues to persist.

At this time I would recommend contacting support directly for advanced troubleshooting steps.

https://www.quicken.com/support#contact-support

Quicken Care has the ability to initiate a screen share to view the issue in real-time to review and research this further.

Thank you,

-Quicken Tyka