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How To Handle Merchant Fees In QuickBooks Pro

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Chelsea Krause

Chelsea Krause

Managing Editor - Accounting
Chelsea Krause is a writer who has specialized in accounting for over three years and is a QuickBooks Certified User. She has a BA in English & Creative Writing from George Fox University and studied at the University of Oxford as well. She has been quoted in Forbes and her work appears in Startup Nation, Small Business Bonfire, and Women on Business.
Chelsea Krause
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4 Comments

Responses are not provided or commissioned by the vendor or bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the vendor or bank advertiser. It is not the vendor or bank advertiser's responsibility to ensure all posts and/or questions are answered.

    Pooja Koirala

    Hi There,

    After applying these fees in the deposit window. The fees shows up in the merchant account as we have yet to pay this balance. Truth is these fees are deducted directly from our bank account so how should I show that there is no balance to be paid?

      Chelsea Krause

      Hi Pooja,

      Great question! I recommend checking out Candus Kampfer’s videos on merchant fees as they will walk you through exactly how merchant fees work in QuickBooks in more detail.

      Best wishes,

      -Chelsea Krause

        Rory

        Will this transaction show a negative expense on the P&L?

          This comment refers to an earlier version of this post and may be outdated.

          Chelsea Krause

          Hi Rory,

          Your Merchant Fees won’t show up as negative; they’ll just be listed under “expenses” on the Profit & Loss Statement. So your P&L will look something like this: QuickBooks Merchant Fees

          Hope that helps!

          Best wishes,

          -Chelsea Krause

            This comment refers to an earlier version of this post and may be outdated.

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