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Then, go to Customers>Receive Payments or find the “Receive Payments” icon on the home screen. Believe it or not, entering this information into QuickBooks Pro is actually fairly simple.īefore you begin, make sure you have created a designated expense account called “Merchant Fees.” If you’re not sure how to do this, follow the steps in our How To Enter Credit Card Charges In QuickBooks Pro post (only select “expense” rather than “credit card”).

For example, PayPal charges 2.9% +$0.30/per transaction. If you use PayPal, Square, or a similar payment processor, you are charged a certain percentage for each transaction you process. How To Enter Merchant Fees Per Transaction If you don’t have a payment processor yet but want to accept online payments from your customers, visit our comprehensive merchant account reviews to find the best payment processor for your business. This way, you can know how much money your business actually has, and you can be certain all of your information is correct for year-end taxes. We’ll explain what to do if your merchant account provider charges you per transaction or via a lump sum at the end of each month. In this post, we’ll cover two different ways to enter merchant fees. But how do you properly enter merchant fees into QuickBooks? If you accept payments from your customers, whether you’re using PayPal, Stripe, Square, or some other payment processor, you most likely are paying merchant fees. Credit Card Processing Fees Infographic.BigCommerce VS Shopify Comparison: Which Is Better For Your Business?.Advanced Guide to Growing Your Online Store.Beginner's Guide to Starting an Online Store.The Best Invoicing Software For Small Businesses.Everything You Need To Know About Small Business Payroll.

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