There are different options to record the credit card processing fees to Quickbooks and you should consult with your accountant to determine what method works best for your organization.
AssociationSphere records the processing fees that are PAID BY YOUR CONSTITUENTS in the software so that you can see the total amount paid by the constituent vs. the net amount after the processing fees.
The processing fees PAID BY YOUR ORGANIZATION AS AN EXPENSE are not recorded in the software, but are available on the deposit reports available in the Billing section of your account.
Therefore, you can choose to record the gross or net amounts paid by the constituents, but any processing fees that you pay as the organization will need to be manually entered into Quickbooks (they are not available via import).
Below are 3 options when recording the processing fees.
Option 1 - Use Gross Amount and Record All Fees Paid as a Total Expense when Making Deposit
Export Transaction Amount from AssociationSphere to Quickbooks $2,528.08.
When performing Make Deposit in QB, add a row for Processing Fee Expense of $127.41.
Total deposit will be $2,400.67.
Option 2 - Use Net Amount from Constituent and Record Fees Paid by Organization as an Expense
Export Amount Net of Processing Fees Paid from AssociationSphere to Quickbooks. This will be the $25 for the 2 constituents that paid the fees and the Amount paid by the 2 constituents who did not.
When performing Make Deposit in QB, add a row for Processing Fee Expense of $124.33. This is only the processing fees paid by your organization.
Total deposit will be $2,400.67.
Option 3 - Use Gross Amount from Constituent and Add Fees Paid as an Expense to Sales Receipts and Make Deposit
Export Transaction Amount from AssociationSphere to Quickbooks $2,528.08.
Edit the 2 sales receipts for the constituents that paid the processing fees to add a row for Fees Paid by Constituent $(1.54).
When performing Make Deposit in QB, add a row for Processing Fee Expense of $124.33. This is only the processing fees paid by your organization.
Total deposit will be $2,400.67.
