How to Record Bank Fees in Quickbooks

Have you been striking with a banking company fee? It'south no hush-hush that banks charge a heft amount for overdrafts, tardily payments on loans, and other fees. In fact, information technology'southward not uncommon for customers to incur $39 for each of these fees. When this occurs, however, you should tape the fee in your Quickbooks account. The fee is technically an expense, and then you lot should tape it accordingly in your Quickbooks account. Failure to practise so may result in the fee throwing off your business'due south books. So, what's the right mode to tape bank fees in Quickbooks?

To brainstorm, log in to your Quickbooks account and click the "File" menu at the top of the page, followed by "Open or Restore Company." As you may already know, this will allow you to open your company file. Y'all'll demand to navigate to the location of your Quickbooks company file. Whether it's located on the cloud or locally on your estimator, find and select your visitor file, after which you should click "Open."

Adjacent, you should see your Quickbooks visitor file opened. Go to the "Banking" menu, click it, and choose "Use Register" from the principal menu. You can then scroll to the lesser of the check register, where you lot can click an empty area on a blank transaction. Side by side, click whatever area of the date field to enter your own appointment. It'due south important that you choose the appointment on which you incurred the bank fee. If yous don't remember when yous were hit with this fee, go dorsum over your bank records. This typically won't have an effect on the overall outcome of the fee, simply it's still a expert thought to record banking concern fees using their appropriate date.

Nether the "Payment" cavalcade, enter the full amount for the fee that you were charged by the bank. At that place are a few more steps in the process, however. Under the "Business relationship" drib-down menu, you'll demand to choose "Bank Service Charges." This tells Quickbooks that the charge came from a bank and not a vendor or customer. When you are finished, you can then click "Record" to finish the procedure. Congratulations, you've but recorded a bank fee in Quickbooks! Hopefully, it rarely or never happens, merely when you incur whatsoever additional depository financial institution fees in the future, follow these steps to record them in Quickbooks.

Did this tutorial work for you? Let united states know in the comments department below!