If you sell anything online and process credit cards online, you receive merchant payments a day (for me with Bank of America) or couple days after the processes in your bank account. Here is how you can report those payments in QuickBooks.
In my QuickBooks, I don’t define every single customer. I have defined one customer as my website and record all transaction (money received from merchant account) under the name of that website. I keep track of every single customer separately.
- Under “Banking” select “Record Deposits“
- Fill in the information. Put your customer’s name (the website) and the “From Account ” as “Merchandise Sale” or whatever other forms of sale that you had.
- The money automatically gets added to your account balance afterward.
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