How to track credit card processing fees in QuickBooks

Knowify allows you to add credit card processing fees to your invoices when accepting online payments via QuickBooks Payments.

To track these processing fees in QuickBooks, you may choose to map them to a specific QuickBooks account where the processing fee will be allocated.

Here’s how it works:

1. Go to Home > QuickBooks > Income Defaults.
2. Under “Default income service” select a service that you want to specify for the “Processing fee,” then select the Default payment account” where you want to allocate this income.
   
3. You can also associate a default income account for this item in the catalog defaults section of your account
   
4. Now when finalizing an invoice, if you choose to enable the Quickbooks Payment link it will also give you the option to enable the processing fee automatically:
   
5. And this will be reflected in the Quickbooks payment portal based on how we originally set this up in steps 1 and 2 above: