Banking
Allow me to step in and share what account to use for the bank fee, Rrgoode311.
The fee as a negative amount is entered as another line item when making a bank deposit. See the attached screenshot for your visual guide.
To track bank or PayPal fees, you need to create an expense account to allocate these charges Let me show you how:
- Go Accounting in the left hand menu, then select Chart of Accounts.
- Click New on the right hand side.
- Create an Expense account and name it Bank Service Charge/Fees.
- Select Save.
I'm adding this article in case you need to match transactions in QuickBooks Online: Match and categorize your downloaded bank transactions.
As always, you can browse our QuickBooks Community help website if you need tips and related articles in the future.
Keep in touch with me here for all of your QuickBooks needs, I'm always happy to help. Have a great day.
