How you deposit credit card payments in your bank account depends on
what method you are
using to track your credit card sales.
If your payment items are set up to Group with other undeposited funds,
make a deposit
that groups your day's receipts according to the way your merchant
processing company processes the batches. To make sure your
payments group with other undeposited funds, check that your Sales &
Customers preferences are set to "Use Undeposited Funds as a default
deposit to account."
Open the sales and customers preferences.
In the Receive Payments section, check the "Use Undeposited Funds as a
default deposit to account" preference.
If you are using a holding account for your credit card deposits to keep
credit card transactions separate from your other undeposited funds, your funds
can be deposited into the bank account when you receive a statement from your
merchant account provider, or whenever you have sufficient data to transfer
Create a "Make Deposit" using the bank account as the
"Deposit To" account.
Enter a manual line entry with your holding account as the "From
Account". Use a positive number for the amount you wish to deposit.
If you know your merchant discount fees and the fees are subtracted from the
amount that your merchant service deposits to your bank account, you can deduct
those fees here by adding a line to your deposit in the Make Deposits window.
Select the Received From column, just below the last payment.
Enter the charge card company (such as the QuickBooks Merchant Service),
which has been set up as an Other Name.
Click the Account drop-down list and choose your merchant account fees
Enter the fee amount as a negative number.
This will decrease your deposit to reflect the net deposit amount.
Save the deposit.
Note: You can also manually enter fees as a payment from the holding
account. It is important that fees are entered so that your holding account and
your bank account will balance correctly.
Options for managing
merchant credit card payments
Deposits for daily sales