Purpose

If QuickBooks is being used for credit card deposits and you want to continue to do so, you will need to create an additional account in the chart of accounts in QuickBooks and an additional item in the item list.

Setting the Account Up

  1. Add a Bank account called Credit Card Deposits in the Chart of Accounts

  2. Add an item in your item list called Credit Card Deposits. The type will be ‘Other Charge’ and the account to map it to will be the Credit Card Deposits Bank Account.

Creating the Invoice for the Credit Card Deposit:

  1. Create an Invoice to the customer paying by credit card.

  2. Choose the Item called Credit Card Deposits

  3. Enter the dollar amount you want to charge your customer and as one lump sum amount.

  4. Save and Close

Processing the Credit Card Deposit:

  1. Process the credit payment as you normally would.

  2. Go to receive payments

  3. Enter the customer’s name

  4. Check the Invoice just created

  5. At Deposit to, choose the Credit Card Deposits Bank Account

  6. Process the credit card payment

  7. Save and Close

📌 Note: If the payment goes to undeposited funds, make sure the actual deposit is deposited to the Credit Card Deposits Bank Account.

When this process has been completed, the bank account called Credit Card Deposits will be $0. There will be a credit amount for the invoice created and a debit amount for the deposit of the credit card payment. The actual credit card deposit into the QuickBooks checking account will come from Aspire.

Entering the Credit Payment into Aspire:

This credit card payment will need to be received in Aspire just like a check payment is entered in Aspire.


(For a review of how to receive a payment, watch this video!)

Once the credit card payment is received in Aspire, the deposit is created and the deposit is sent to QuickBooks. Then the credit card deposits will be in the checking account in QuickBooks.

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