Thanks for coming back, XL_Velo.
I appreciate you for performing the steps provided by my colleagues. When receiving less than the due amount on the invoice because of Bank/Square fees, you'll first need to create an expense account for Bank Fees (if you don't have one already). Then resolve the difference when matching the transaction from the Banking page. Here's how to create an expense account:
- Click Accounting from the left menu.
- Choose Chart of Accounts.
- Tap New.
- In the Account dialog, create an Expense account for Bank Charges, and name it Bank Fees.
- Press Save and close.
Once you have an expense account for bank fees, you can resolve the difference between the invoice and the payment when matching transactions. Let me show you how:
- Click Banking on the left menu and choose Banking.
- On the Bank and Credit Cards page, make sure you have selected the Bank Account with the transaction.
- Locate and select the relevant Transaction on the For Review tab.
- Select Find Match.
- In the Match transactions window, choose the checkbox of the appropriate Invoice.
- Tap Resolve Difference to open the Add resolving transactions fields.
- Press Add new transaction.
- From the drop-down list in the Category field, choose the Bank Fees expense account you created.
- Enter the Amount of the bank fee.
- Tick Save and close.
Your transaction is now matched off against the invoice and the bank fees are accounted for. Feel free to visit our Banking page for more insights about managing your bank transactions.
I'd like to know how you get on after trying the steps, as I want to ensure this is resolved for you. Just reply to this post and I'll get back to you. Take care always.
