Skip to content

How to Quickbooks Record Merchant Service Deposits and Fees Error

    Find Transactions in the Merchant Service Deposit

    QuickBooks is extremely popular in the business world and more and more businesses are getting benefited from it every passing day. However, it is not without its fair share of minor issues. One of the most common issues the users face is the issue of not being able to find transactions in the merchant service deposit. You may have also faced this issue and needless to say that the same may have been quite frustrating at times. However, one thing we should understand is that no software can be 100% free of errors or bugs and QuickBooks is no exception either.

    Even if you have faced this issue recently, you don’t need to panic as yet. If you have a fair idea about the issue and are aware of ways to fix it, this issue is too small to worry you. We are here to assist you in this regard. Just go through this blog. Here, we will provide a number of easy solutions, with a step-by-step approach. Simply go through the steps, implement them and prevent this issue from appearing on your computer ever again!

    πŸ” How to Find Out Transactions in the Merchant Service Deposit?

    Since you are making the transactions through the QBO (QuickBooks Online) Payments, the processing depends on the method of payment. Bank transfer payments usually take up to 7 working days. Some banks may even take longer. It requires up to 2 working days for credit card payments.

    Read More:

    Set up Direct Deposit for Employees QuickBooks

    πŸ” Here is the Procedure to Search for the Transactions in Merchant Service Center:

    πŸ”Ή Navigate to Settings
    πŸ”Ή click on Account and Settings.
    πŸ”Ή Click on the Payments tab
    πŸ”Ή Select Manage Account.
    πŸ”Ή The Merchant Service Center window will open up on the screen.
    Please Note: you can also search for your transactions by going directly to Intuit Merchant Services.
    πŸ”Ή Now go to Activity Reports
    πŸ”Ή Click on Transactions. The following screen will appear

    πŸ” Steps to Find Missing Transactions Downloaded From your Online Bank and Credit Card Accounts

    This is how you can check different parts of your accounts in order to find the missing transactions.

    Total Time: 30 minutes

    Obtain the Latest Transactions

    If you are not being able to find a transaction you expected, download the latest available ones manually.
    πŸ”Ή Navigate to the Banking menu/Transactions menu.
    πŸ”Ή Now click on the Banking tab.
    πŸ”Ή Click on Update.
    You can continue to work during the update. After it gets completed, look at the Banking menu once again for the missing transaction. You may find it in the For review section. If you still can’t find it, move to the next step.

    Check in the Banking Menu

    πŸ”Ή Go to the Banking /Transactions menu.
    πŸ”Ή Click on the Banking tab.
    πŸ”Ή Select the tile for the bank/credit card account from which you downloaded the transaction.

    Here is How You Can Check:
    πŸ”Ή Search in the For Review tab. Here, QuickBooks normally stores recently downloaded transactions. If you get the missing transaction, categorize it into any of the accounts. Transactions won’t appear on your books till you categorize them.
    πŸ”Ή Now, check in the Categorized tab. This will tell you what happens to your already categorized transactions. Review the Added or Matched column in particular. This would specify which account you categorized the transaction to.
    πŸ”Ή Finally, search in the Excluded tab. It would include all the transactions you have marked as personal or duplicate. QuickBooks will not add excluded transactions into your accounts. If you still want to add, click Undo from the action column. Then click the For Review tab and categorize it in to the proper account.

    Have a Look at Your Account History

    πŸ”Ή Go to the Accounting menu.
    πŸ”Ή Click on the Chart of Accounts tab.
    πŸ”Ή Search for the bank account and click on View register.
    πŸ”Ή Search for the transaction. Click on it to get more details.
    This way, you will get a full history of the transaction.

    Search in Uncategorized Accounts

    If you have not categorized your transactions into proper accounts, QuickBooks would keep them into the Uncategorized Expenses or Uncategorized Income. It may be possible to find your missing transaction in these accounts.
    Please Follow These to Check:
    πŸ”Ή Navigate to the Accounting menu.
    πŸ”Ή Click on the Chart of Accounts section.
    πŸ”Ή Search for the Uncategorized Income or Uncategorized Expenses account.
    πŸ”Ή Click on Run report.
    πŸ”Ή Check if the missing transaction exists on the report.

    πŸ”” For Free Consultation with QuickBooks Experts: Just Call or Chat With Us πŸ””

    πŸ””Frequently Asked Questions

    Where Can I Find the Merchant Service Deposits In QuickBooks?

    Ans: Please Follow the Steps Below:-
    β˜‘ Go to the Banking menu
    β˜‘ Select Record Merchant Service Deposits.
    β˜‘ Click on Change your deposit settings.
    β˜‘ Select the account Quickbooks deposits payments into at your bank from the Bank for deposits dropdown box.
    β˜‘ Select the account you track fees with from the Fees account dropdown.

    Why Do I Face the Issue of Missing Transactions in QuickBooks?

    Ans: If you don’t categorize transactions into specific accounts, QuickBooks puts them into Uncategorized Income or Uncategorized Expenses. Your missing transaction may be there.

    To Check These Accounts-Follow the Steps Below:-
    β˜‘ Navigate to the Accounting menu.
    β˜‘ Click on the Chart of Accounts section.
    β˜‘ Search for the Uncategorized Income or Uncategorized Expenses account.
    β˜‘ Click on Run report.
    β˜‘ Check if the missing transaction exists on the report.

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    11 + ten =