How to handle Merchant Fee in QuickBooks

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  • Опубликовано: 15 дек 2024

Комментарии • 53

  • @CandusKampfer
    @CandusKampfer  2 года назад +1

    Are you more comfortable not with entering your merchant fees?

  • @PatJenkins-b5b
    @PatJenkins-b5b Год назад

    Such a nice easy simple solution. I've been looking online all day. Thanks so much!!

    • @CandusKampfer
      @CandusKampfer  Год назад

      Thank you for watching our videos!
      Glad it helped you.
      Have an amazing day!
      Ednalyn ~ Team Candus
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  • @PatJenkins-b5b
    @PatJenkins-b5b Год назад

    Such a nice simple answer. I been looking on line all day. Thank you so much!!

    • @CandusKampfer
      @CandusKampfer  Год назад

      Thank you for watching our videos!
      Glad it helped you.
      Have an amazing day!
      Ednalyn ~ Team Candus
      P.S. We’d love to connect with you! Find us on ↓
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  • @Upinair569
    @Upinair569 10 месяцев назад

    You are awesome, I appreciate how you deliver information. Super helpful!

    • @CandusKampfer
      @CandusKampfer  10 месяцев назад

      Hi Katie,
      Aw, thank you so much! I'm so glad you found our video helpful 🤗
      If you’d like to learn more about how to optimize QuickBooks for your business, I recommend checking out our Confidence with QuickBooks program. To learn more you can attend our Customizing QuickBooks workshop. Save your seat here: CandusKampfer.com/workshop
      Have a great day,
      Samantha, Team Candus

  • @barbaraderossi7
    @barbaraderossi7 2 года назад +1

    OMG super helpful my customers pay via wire payment and did not realize you should manage it thru the Undeposited screen/icon.

    • @CandusKampfer
      @CandusKampfer  2 года назад

      Hi Barbara,
      So glad it helped you. 😊
      Have an amazing day!
      Kindra ~ Team Candus
      P.S. We’d love to connect with you! Find us on ↓
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  • @rodgerpyle1597
    @rodgerpyle1597 Год назад

    This was the most helpful explainintion

    • @CandusKampfer
      @CandusKampfer  Год назад

      Hello Rodger
      Glad it helped you.
      Have an amazing day!
      Ednalyn ~ Team Candus
      P.S. We’d love to connect with you! Find us on ↓
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  • @larryps
    @larryps Год назад

    Thank you. I'm a subscriber now.

    • @CandusKampfer
      @CandusKampfer  Год назад

      Thanks for the sub!
      Glad it helped you.
      Have an amazing day!
      Ednalyn ~ Team Candus
      P.S. We’d love to connect with you! Find us on ↓
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  • @jagmeetsond6075
    @jagmeetsond6075 2 года назад +1

    Top Video! Always wanted to know this, I usually charge it to the customer account using a journal and apply it to the invoice as a credit..

    • @CandusKampfer
      @CandusKampfer  2 года назад

      Glad it helped you.
      Have an amazing day!
      Kindra ~ Team Candus
      P.S. We’d love to connect with you! Find us on ↓
      Instagram: instagram.com/candus.kampfer
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  • @wendys3721
    @wendys3721 2 года назад +2

    In our nonprofit, we go straight to the “deposits “ tab For the credit card donations. The fee (which comes out as a separate transaction), we have a QB category for “fees” and we expense the fees there and just do our donation straight as a deposit. Is this wrong? Thank you for all of your help with QuickBooks. I really appreciate what you do.

    • @CandusKampfer
      @CandusKampfer  2 года назад +1

      Hi Wendy,
      Thanks for watching our videos - we're glad you enjoy them. To answer your question, it depends on what you want to see on your reports and need to track.
      Have an amazing day!
      Kindra ~ Team Candus
      P.S. We’d love to connect with you! Find us on ↓
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      TikTok: www.tiktok.com/@canduskampfer

    • @patriciaperlman8808
      @patriciaperlman8808 2 года назад +1

      Wendy, your not wrong, there are different ways to enter the same information depending on how your nonprofit wants to analyze the data later through the reports function. I must expense mine this way.

    • @wendys3721
      @wendys3721 2 года назад +1

      @@patriciaperlman8808 Thanks for that sharing that information. I really appreciate it.

  • @SElliott-m9s
    @SElliott-m9s 7 месяцев назад

    Thanks again!

    • @CandusKampfer
      @CandusKampfer  7 месяцев назад

      Hi,
      I'm so happy that you found our video helpful!
      Have a great day,
      - Samantha, Team Candus

  • @PatJenkins-b5b
    @PatJenkins-b5b Год назад

    Question? If you want the fee to show under the client job as a cost can you enter the job name instead of the vendor?

    • @CandusKampfer
      @CandusKampfer  Год назад

      Thank you for watching our videos 😊
      I will add your question to the list Candus uses to create new QuickBooks tips each month.
      The best possible way for you to receive support from Candus is to register for and attend her workshop.
      Here is the link to register to attend: canduskampfer.com/workshop
      Have a great day!
      Ednalyn ~ Team Candus
      P.S. We’d love to connect with you! Find us on ↓
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  • @AbdulRehman-s8i2r
    @AbdulRehman-s8i2r Год назад

    Hi @Candus Kampfer Can I record my software credit card transaction fee (Stripe) as a Deposit immediately as I charge them in my software

    • @CandusKampfer
      @CandusKampfer  Год назад

      Thank you for watching our videos 😊
      I will add your question to the list Candus uses to create new QuickBooks tips each month. If you haven't already joined our weekly QB Tips & Tricks, click here to join and we'll send you our tips straight to your inbox: canduskampfer.com/weeklytips
      Have a great day!
      Ednalyn ~ Team Candus
      P.S. We’d love to connect with you! Find us on ↓
      Instagram: instagram.com/candus.kampfer
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  • @cbrown4964
    @cbrown4964 2 года назад +1

    WIll you have a video on "How to handle Merchant Fees in QBO" using sales receipts and deposits/bank feeds?

    • @CandusKampfer
      @CandusKampfer  2 года назад +1

      Hello!
      We have this video available for merchant fees in QBO: ruclips.net/video/X_Y_cwHXC3o/видео.html
      Have a wonderful day,
      Kindra ~ Team Candus
      P.S. We’d love to connect with you! Find us on ↓
      Instagram: instagram.com/candus.kampfer
      Facebook: facebook.com/CandusKampfer
      TikTok: www.tiktok.com/@canduskampfer

    • @Lorgayle1
      @Lorgayle1 Год назад

      @@CandusKampfer thank you for providing this link, I was just about to ask the same question. 😃

  • @anitar959
    @anitar959 3 месяца назад

    Hi how do i pull up a report in qb where i charge credit card to see the fees ???

    • @CandusKampfer
      @CandusKampfer  3 месяца назад

      Hi,
      Thank you for watching our video.
      If you're interested in more in-depth training on how to pull a report, I recommend checking out our Confidence with QuickBooks program. To learn more you can attend our QuickBooks workshop. Save your seat here: CandusKampfer.com/workshop
      Have a great day,
      Samantha, Team Candus

  • @rogeliososa4768
    @rogeliososa4768 Год назад

    Hi Candus, how can I record an expense for penalty, late filing penalty, fees and interest due when you pay sales tax.

  • @ivetteolaya103
    @ivetteolaya103 10 месяцев назад

    I don't know you, but i just want to say thank you, before watching your video i felt like crying thinking about how was i going to reconcile the bank account of my company I owe you so much 😍😍😍😍😍😍😍😍

    • @CandusKampfer
      @CandusKampfer  10 месяцев назад

      Hi Ivette,
      I'm so happy that you found our video helpful! 🤗
      If you’d like to learn more about how to optimize QuickBooks for your business, I recommend checking out our Confidence with QuickBooks program. To learn more you can attend our Customizing QuickBooks workshop. Save your seat here: CandusKampfer.com/workshop
      Have a great day,
      Samantha, Team Candus

  • @AbdulRehman-s8i2r
    @AbdulRehman-s8i2r Год назад

    @Candus Kampfer If I've to charge my customer processing fee then I've to enter Merchant fee as an income. correct? If Yes can I record this without adding Line item in an invoice? Please advise.

    • @CandusKampfer
      @CandusKampfer  Год назад

      Thank you for watching our videos 😊
      I will add your question to the list Candus uses to create new QuickBooks tips each month. If you haven't already joined our weekly QB Tips & Tricks, click here to join and we'll send you our tips straight to your inbox: canduskampfer.com/weeklytips
      Have a great day!
      Ednalyn ~ Team Candus
      P.S. We’d love to connect with you! Find us on ↓
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  • @sandracarroll754
    @sandracarroll754 2 года назад +1

    Helpful video! Can you do a video on how to handle when a vendor charges tax on a resale item. How do we enter invoice to show an adjustment (reduce) to sales tax liability.

    • @CandusKampfer
      @CandusKampfer  2 года назад

      Thank you for watching our videos 😊
      Hi Sandra,
      I will add your question to the list Candus uses to create new QuickBooks tips each month. If you haven't already joined our weekly QB Tips & Tricks, click here to join and we'll send you our tips straight to your inbox: canduskampfer.com/weeklytips
      Have a great day!
      Kindra ~ Team Candus
      P.S. We’d love to connect with you! Find us on ↓
      Instagram: instagram.com/candus.kampfer
      Facebook: facebook.com/CandusKampfer
      TikTok: www.tiktok.com/@canduskampfer

  • @luxuryhomes8889
    @luxuryhomes8889 2 года назад

    this is fun fun fun!!!!! yes!!!

    • @CandusKampfer
      @CandusKampfer  2 года назад

      We're so glad you enjoyed it.
      Have an amazing day! 🤩
      Kindra ~ Team Candus
      P.S. We’d love to connect with you! Find us on ↓
      Instagram: instagram.com/candus.kampfer
      Facebook: facebook.com/CandusKampfer
      TikTok: www.tiktok.com/@canduskampfer

  • @patriciaperlman8808
    @patriciaperlman8808 2 года назад +1

    Hi Candus, My merchant account settles my daily batch at 5pm. The banks settlement reports are not available before the next day. That settlement report is the only way I can know the fee accurately. In this example are you entering payments when they are made or the day after from your merchant data?
    My question may be outside the scope here. I was was hoping to see you enter the the transaction through to the bank deposit stage . Would that be a daily batch total if we followed this transaction through undeposited funds and Into the bank?

    • @CandusKampfer
      @CandusKampfer  2 года назад +1

      Hi Patricia,
      You can enter the payments whenever works for you. We "receive payments" weekly for the previous week's payments as a batch into undeposited funds and then make a "deposit" where we split out the fees that were taken out.
      I hope that helps!
      ~Kindra/Team Candus
      P.S. We’d love to connect with you! Find us on ↓
      Instagram: instagram.com/candus.kampfer
      Facebook: facebook.com/CandusKampfer
      TikTok: www.tiktok.com/@canduskampfer

    • @patriciaperlman8808
      @patriciaperlman8808 2 года назад

      @@CandusKampfer Thank you - that does very much. I fear in our case our "undeposited funds" would be unwieldly by weeks end just doe to transaction volme. This helps greatly though as I have a better angle for discussion on better procedures with the CFO. Thanks!!

  • @ChairMenoftheBoardGames
    @ChairMenoftheBoardGames Год назад

    Candus, Help, my QB screen looks different than yours and I don't have a "undeposited funds" to click. I've only been on QB for 6 months...

    • @ChairMenoftheBoardGames
      @ChairMenoftheBoardGames Год назад

      Candus, I have now learned the difference in QB online and QB desktop. Thanks for the online videos.

    • @CandusKampfer
      @CandusKampfer  Год назад

      Hi,
      I'm glad you were able to figure out why your QuickBooks looked different and that you learned something new! 🥳
      If you want additional support with your QuickBooks, you can check out our Customizing QuickBooks workshop here: CandusKampfer.com/workshop
      Have a great day,
      Samantha
      Team Candus

  • @francis3470
    @francis3470 Год назад

    can you doing a video show how you charge the customer the surchage 3% credit card process fee on the same invoice?

    • @CandusKampfer
      @CandusKampfer  Год назад

      Thank you for watching our videos 😊
      I will add your question to the list Candus uses to create new QuickBooks tips each month.
      The best possible way for you to receive support from Candus is to register for and attend her workshop.
      Here is the link to register to attend: canduskampfer.com/workshop
      Have a great day!
      Kindra ~ Team Candus
      P.S. We’d love to connect with you! Find us on ↓
      Instagram: instagram.com/candus.kampfer
      Facebook: facebook.com/CandusKampfer
      TikTok: www.tiktok.com/@canduskampfer
      Pinterest: pinterest.com/canduskampfer/

  • @amyl5907
    @amyl5907 8 месяцев назад

    What if your merchant fees come out at the beginning of the month and the amount of the fees is more than your deposit, therefore it will not allow you to create a negative transaction to deposit.

    • @CandusKampfer
      @CandusKampfer  8 месяцев назад

      Hi Amy,
      If it comes out once a month it's typically a separate transaction than your daily deposit. I'd add it as an expense in the check register and choose merchant fees.
      If you’d like to learn more about how to optimize QuickBooks for your business, I recommend checking out our Confidence with QuickBooks program. To learn more you can attend our Customizing QuickBooks workshop. Save your seat here:
      CandusKampfer.com/workshop
      Have a great day,
      Samantha, Team Candus

  • @ritaspartyrentals7011
    @ritaspartyrentals7011 2 года назад +1

    Hi Candus What if the customer cancels the order, and have to refund the money received including the merchant fee, and the money has already been deposited to the bank. Would you please make a video showing the reversal of the money owed to the customer and reversing the merchant fee.
    Thank you for everything you do to share with all of us Enterprenuers. Have a Blessed Day. Happy Halloween 🎃

    • @CandusKampfer
      @CandusKampfer  2 года назад

      Happy Halloween to you too!
      Thank you for watching our videos 😊
      Generally you would just add it back to the original account it was put into - merchant fee back to merchant fee account, etc. However, I will add your question to the list Candus uses to create new QuickBooks tips each month. If you haven't already joined our weekly QB Tips & Tricks, click here to join and we'll send you our tips straight to your inbox: canduskampfer.com/weeklytips
      Have a great day!
      Kindra ~ Team Candus
      P.S. We’d love to connect with you! Find us on ↓
      Instagram: instagram.com/candus.kampfer
      Facebook: facebook.com/CandusKampfer
      TikTok: www.tiktok.com/@canduskampfer