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Quickbooks and Zettle and Stripe charges

How does Quickbooks handle bank downloads if charges have been deducted

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Client wants to move to Quickbooks and is attracted by the bank download facility. However how does QB pick up charges made by likes of Zettle and Stripe if charges are deducted before payment is made into the bank? How would sales and charges be separated?

Do Zettle and Stripe charge VAT on their charges? If so I guess it’s not a problem but if their charges are exempt from VAT then would there be a problem??

Any advice here would be helpful

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04th Apr 2019 10:12

If the charge is taken from the payment then when posting the invoice there is the facility to have a -ve amount to balance which is written off again bank charges account. As far as I know none of the charges are subject to vat and are treated at normal Bank charges which are exempt.

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04th Apr 2019 12:23

we have a client with Stripe income who records the sales from the bank download so no invoices - every quarter I download the P&L items from Stripe into a spreadsheet which adds bank the fees/VAT etc then I put on a journal to ensure all is accounted for correctly

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