David Harries
Level 1
‎February 19, 2025 02:47 PM

accounting for credit card surcharge via POS & Lightspeed

Hi 

 

I have a scenario where the business uses lightspeed POS and lightspeed payments. The lightspeed payments terminal automatically adds on the surcharge to each transaction. There is no automatic integration between QBO and Lightspeed and the business has just been posting the net amount sent to the bank account (minus fees & GST) to an income account in QBO. Is there a better way to handle this? 

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IntuitAika
Intuit
Intuit
‎February 19, 2025 03:26 PM

Other questions

Hi David,

 

Thanks for posting in the Community! 

 

If you create an invoice or sales receipt in QuickBooks Online we can match it to the transaction downloaded from your bank so we can allocate the difference to bank fees. Here's how to resolve a difference when matching an invoice to the payment downloaded from your bank. 

 

  1. Go to Transactions, then select Bank transactions.
  2. Select the bank account with the transaction.
  3. Locate and select the relevant transaction on the For review tab.
  4. Select Find match.
  5. In the Match transactions window, tick the box for the appropriate Invoice.
  6. Select Resolve to open Add resolving transactions.
  7. From the Category dropdown, select the Bank fees expense account you created.
  8. Enter the Amount of the bank fee.
  9. Select the applicable GST.
  10. Select Save.

 

For your reference, you may also check this article: Account for bank fees when matching transactions in the bank feed in QuickBooks Online. 

 

Let me know if you have any other questions with. I'll be around to help you. 

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