![]() We just started integrating with QuickBooks in October 2022 and it has been a management nightmare to say the least. Hi John, I agree! I have tried it both ways and there doesn't seem to be much difference. ![]() This allows me to account for all merchant fees for credit card payments processed through Vagaro and Quickbooks sees it as a Merchant fee paid expense and shows the expense on our Profit & Loss reports for accounting purposes. Then I create an expense in Quickbooks out of the "Merchant Fee Payment Account" in the amount of the merchant fees for the deposit. Once the credit card deposit goes into our bank account, I create a Transfer in Quickbooks from the Vagaro Payment Account into the Merchant Fee Payment Account in the amount of the merchant fees shown for the deposit in Vagaro. ![]() Second, I've created a "Merchant Fee Payment Account" in our Quickbooks Chart of Accounts as a Bank Checking account. Quickbooks only shows the Vagaro Income Account on Profit & Loss reports. Note, that I do this for all deposits into the bank (checks, cash, credit cards) that are checked out through Vagao so Quickbooks does not count the revenue twice. ![]() Dionne, the current communication back from Vagaro support states that Merchant fees for credit card payments are not currently synced with Quickbooks and we, therefore, have to manually input them into Quickbooks.įirst, when the credit card deposits go into our bank account and then sync from the bank to Quickbooks, I tell Quickbooks that the bank deposit is a transfer from the Vagaro Payment Account to keep Quickbooks from counting the revenue twice. ![]()
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