To create Payment transaction fee manually in QuickBooks Online, follow these steps:


Step-1: Create a product with income account as an expense. Follow the steps below to perform this activity.

  • Go to your company file dashboard in QuickBooks Online.

  • Click the gear sign at the top right of the screen and select ‘Product & Services’ from drop-down.

  • Click ‘New’ on the top right of the screen (just below to gear sign). A pop-up window is displayed.

  • Fill in the Product Details. 

  • Select expense from the drop-down menu of the ‘Income Account’.

  • Click ‘Save and Close’  to create your product.


Step-2: Create Invoice for a product. Follow the steps below to perform this activity.

  • Click ‘+’ at mid-top of the screen.

  • Select ‘Invoice’ from the drop-down. A new pop-up window is displayed.

  • Fill in the details and click ‘Save and Close’.


Step-3: Receive payments for the product. Follow the steps below to perform this activity.

  • Click 'Sales’ under Transaction from left side menu-bar.

  • From the drop-down, click Sales and a new page is displayed.

  • Click the Status column to receive the payment for the product.


Step-4: Create Credit memo. Follow the steps below to perform this activity.

  • Click on ‘+’ at mid-top of the screen.

  • Select ‘Credit Memo’ from the drop-down menu. A new pop-up window is displayed.

  • Fill in all the details and click ‘Save and Close’.


Step-5: Link the credit memo with the payment. Follow the steps below to perform this activity.

  • Click ‘Sales’ under Transaction from left side menu-bar.

  • From the drop-down menu, click Sales and new page is displayed.

  • Click on the payment under the Type column for the respective product. A new window is displayed.

  • Link the credit memo with payment by checking the rectangle boxes.

  • Click ‘Save and Close’. A new pop-up window is displayed.

  • Say Yes to the pop-up window to agree to link the transaction.


On following all 5 above mentioned steps successfully, you can create Payment Transaction Fee manually in QuickBooks Online.