QuickBooks Desktop How To Record A Credit Card Payment

January 25, 2021 9:30 am Published by Leave your thoughts

accounts in quickbooks

Now click the blue “Reconcile Now” button. Enter the category, product, or service that valued the returned payments. In the Product/Service column, select theBounced check fee item you created from the dropdown list.

To review your file data on the preview screen, just click on “next,” which shows your file data. If the credit card and the bank account you use to pay the credit card expense are connected , you can record the payment by transferring the record. I run a small business and using QuickBooks for accounting.

Recording the payments of the customers is one of the most important accounting tasks. Based on the situation, you can select from different ways to do it, with the help do QuickBooks online. A sales receipt is the best place to begin. I made a wire transfer payment to a vendor for a one time service.

Record your payments to credit cards in QuickBooks Online

From the Payment Account dropdown, select the account the money was supposed to go into. Here’s how to input bills in QuickBooks and track payments made toward them. Furthermore, using Dancing Numbers saves a lot of your time and money which you can otherwise invest in the growth and expansion of your business.


Under Money Out (if you’re in Business view), or Other (if you’re in Accountant view), select Pay down credit card. From the Payee dropdown, select the vendor you paid. This opens a window with all of their outstanding bills.

I was given the incorrect account information and the payment was returned, minus the wire fee. I want to know how to categorize those transactions, The payment was later made and recorded. I am just a little stuck on how to account for the returned payment. After you forward the statement to your customer, they know what they owe and why. Then, once they pay you for the original invoice and the bank fees, you can follow the normal steps toreceive their payment.

Select the Transfer account ▼ dropdown menu and select the account you want to send the transaction to. If you want to add notes or file attachments, select Memo and Attachments and follow the instructions on the screen. If you made a payment with a check, select I made a payment with a check. In the Check no. field, enter the check number, or if you paid electronically, enter the EFT number.

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Thank you so much, MayaD77! I had had the same situation and was getting nowhere with the replies given by QuickBooks… They just didn’t seem to even understand the question and gave answers that simply didn’t apply.

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Bills added manually appear directly in the Unpaid tab. Because you added the bill, you don’t need to review it. From the Terms ▼ dropdown, select the bill’s terms. This is when your vendor expects to be paid.

Receiving Payment Instantly

Payments that come in before 3 p.n. PT should be in your account the next business day. Of course, you can also check the payment status of the invoices you’ve sent in the browser-based version of QuickBooks Online on your desktop or laptop. Open your list of invoices on the site and click on one to highlight it. A panel will slide out from the right side of the screen displaying the invoice’s timeline. Reconciling your accounts in QuickBooks is similar to balancing your checkbook.

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You can record bills one at a time, or record multiple bills for multiple vendors at once. On the other hand, if you’ve already paid for a business expense, enter it as an expense. These specific transaction types tell QuickBooks how to record everything. If you make a bank deposit with several checks in a single deposit, use the Undeposited Funds account to record the payments in QuickBooks. This lets you group multiple payments into one deposit transaction in QuickBooks.

What is the ‘Select How Vendor Receives’ Option While Paying Bills Electronically?

You can record the full or partial payment on an invoice, and QuickBooks tracks any remaining balance. There’s no cost for setting up an account in QuickBooks Payments. There are only per-transaction fees. For ACH bank payments, the rate is 1%, with a maximum of $10 per transaction. Credit and debit cards are 2.9% if they come in through an invoice, 2.4% if you use a card reader, and 3.4% if the payments are keyed in. There’s also a $0.25 fee per transaction.

Please keep me posted on how it goes. Let me know in the comments if you have other concerns about recording returned payments in QBO. I’m always around to help. Take care and stay safe always,@SamanthaSB.

By default, https://bookkeeping-reviews.com/s are deposited to an account named Undeposited Funds. Learn more about Undeposited Funds. Or, learn how to change your default deposit to account.


If you are a small business owner looking to create long term wealth and achieve financial success, join my free Facebook Community. Under theCreditstab, check the available credit and hitDone. Go to Get paid & pay or Sales, then select Customers . This records the bank service fee so you have a clear record of who was charged for what. Find and select the name of the customer who’s check bounced.

Record an invoice payment

Use the “Finance Charge” box to enter any finance fees . Enter the date the finance fee was charged and select an account like “Interest Expense” to categorize your finance charge. Completely agree.

xero odbc driver experts out my step by step tutorial, guiding you through the recording process in Quickbooks Online. Quick Tips Thursday-Invoicing Hello Community! Are you struggling to get customers to pay you on time, or…


Bulk import, export, and deletion can be performed with simply one-click. A simplified process ensures that you will be able to focus on the core work. Once you’re done with the transfer of the transaction, you need to match it with the new account. Enter any missing transactions from the statement and adjust any incorrect transactions, if there are any.

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Select the account you will be using to payfor your credit card charges . Select the credit card account you wish to reconcile. Go to theAdd funds to this depositsection and select thevendorwho gave you the refund. Also, add the wire fee charged . In theAccountdrop-down, choose the account where you want to deposit the money.

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This post was written by Ciara Darmody

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