Hello @ stephengroeschel

We appreciate you being part of the QuickBooks Online family. I know learning all of the ins and outs can be tricky. Let me help you with recording Venmo payments.

I see you’ve received the payment, did you put that into Undeposited Funds? If not, you’ll want to edit it so that it is.

For Venmo transactions you'll need to record the invoice payment and deposit it to Undeposited Funds.

This method allows users to create a bank deposit and move the funds to the correct bank account. During the process, you can include the service charges and processing fees.

Here's how:

1. Open the invoice and create a payment to Undeposited Funds.
2.  Hit Save and close.
3. Click the + New option in the upper-left corner, then choose Bank deposit.
4. In the Add funds to the deposit section, enter the fees (ex: -$1.75) to reduce the deposit amount.
5. Press Save and close.

When you enter the fees associated with processing the payment, you’ll want to mark them as received from Venmo. This will allow you to easily see how much you’ve paid in processing fees to Venmo, which are an expense for your business.

If you haven’t already, you will add Venmo as a Vendor to your account. Here’s how:

1. Select Expenses, then Vendors.
2. Select New Vendor.
3. Complete the fields in the Vendor Information window.
4. Select Save.

For more details including a video, check this out: Add a vendor in QuickBooks Online

After following the steps above, you should be able to match the downloaded transactions from your bank with the deposit shown in QuickBooks.

I know this is a lot of information, please don’t hesitate to let me know if you have any additional questions. I’m here to make sure you’ve got what you need.

Have a great day!