How To Enter Credit Card Charges In QuickBooks Online

In this article, I am going to share the most engaging question that is how to enter credit card charges in QuickBooks Online. Now, before explaining this let us know about what is a credit card and what is a QuickBooks?

A Credit Card is one which allows people to buy goods without cash

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HOW TO ENTER CREDIT CARD CHARGES IN QUICKBOOKS ONLINE

A Quickbook is an accounting software program that is used to manage the income, it keeps a track of the financial health of the business. It is used to generate reports, pay bills and much more.

HOW TO ENTER CREDIT CARD CHARGES IN QUICKBOOKS ONLINE

HOW TO ENTER CREDIT CARD CHARGES IN QUICKBOOKS ONLINE

In order to enter credit card charges in QuickBooks, you have to follow the given steps.

STEP – 1

Firstly you have to go to the menu and select the option Banking and click enter credit charges.

Step 1 CREDIT CARD CHARGES IN QUICKBOOKS

STEP – 2

In the Credit Card Charges dialogue box, from the Credit Card drop-down list, select the credit card account.

credit card details on quickbook

STEP – 3

On your screen, you will see an Amount field and in that field, you have to type the amount of charge.

RECORD CREDIT CARD FEES IN QUICKBOOKS

STEP – 4

After completing the above processes you will be provided with a detail section. In that, you have to locate the transaction and from the Account drop down list, you need to select the Account category.

STEP – 5

Now you have to review the entry and then click on the Save and Close option.

HOW TO RECORD CREDIT CARD FEES IN QUICKBOOKS

To record credit card fees in QuickBooks you must have to follow three simple steps.

Let us say that the customer invoice is $50 and a credit card fee is $5 and let us suppose that the net bank deposit is $45.

STEP – 1

We have assumed that customer invoice is $50 (it creates a/r as debit and credit to income a/c)

STEP – 2

Now your received payment is $50 (it relieves balance from a/r), it moves to your undeposited funds)

STEP – 3

As I have mentioned earlier that the bank deposit is $45 (it relieves balance from undeposited funds to a bank account)

SPLIT ENTRY

Received from

From account – xxxxxxxxxx

AMOUNT

Line 1 – Name (ABC)

Undeposited funds = $50

Line 2 – CC FEES

Merchant service = – $5 (expense account). Mentioned with a negative amount.

Deposit Subtotal, as well as Deposit Total, should show $50

HOW TO ENTER CREDIT CARD FEES IN QUICKBOOKS ONLINE

If you want to enter credit card fees in QuickBooks online then follow the steps carefully.

STEP – 1

You have to click the Plus icon (+) which you will see at the top.

STEP – 2

You will see a lot of options so from there you have to click on Bank deposits.

STEP – 3

Now, you have to enter the deposit. Under account choose Credit Card fees.

STEP – 4

You have to enter a negative amount (-), under Amount.

STEP – 5

Click on the Save and Close button.

By following these 5 steps you can easily enter credit card fees in Quickbooks online.

HOW TO ENTER CREDIT CARD TRANSACTIONS IN QUICKBOOKS ONLINE

To enter credit card transactions follow the given steps

STEP – 1

You will see a plus icon at the top of your screen. Click on that plus icon.

STEP – 2

You will see a vendor section. Under that section, you will notice some other options so click on the expense option.

STEP – 3

Now you have to choose the payee option and select a Credit card on the Bank / Credit account.

STEP – 4

After this, you will see a field of account details in that you have to fill the necessary details.

STEP – 5

Now click on the Save and Close button.

HOW TO ENTER CREDIT CARD TRANSACTIONS VIA CHART OF ACCOUNTS

STEP – 1

On the left side of your screen, you will see an option Accounting. You have to go to the Accounting menu.

STEP – 2

Here, you have to look for a credit card account then click on the View register link.

STEP – 3

Now, click on the Add expense drop-down menu and select the specific type of transaction.

STEP – 4

You will find a field where you have to enter the necessary information.

STEP – 5

Click on the Save button.

HOW TO RECORD CUSTOMER PAYMENT CREDIT CARD CHARGES

STEP – 1

You have to receive the customer invoice payment to Undeposited funds but not the bank account.

STEP – 2

You have to go to the Plus symbol

then click on Bank deposit and Add funds to the deposit.

STEP – 3

Here you have to make the deposit to the account you received in, then you have to match it in the bank feed.

By following these three steps you can successfully record customer payment credit card changes.

ADVANTAGES OF QUICKBOOKS

1. It helps you to manage your taxes smoothly.

2. It uses software which is full of new technologies.

3. It provides you with safety and security.

4. It has many integrated tools that help you to work efficiently.

5. It offers you value for money.

6. Quickbooks plans to reach more than 10 million of its active customers.

7. It provides you with the best services.

8. It has easy to use software which makes it more beneficial.

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