How to Record a Recurring Bank Service Charge

To record recurring bank service charges, you can create a Scheduled transaction. This automatically records the expense in your books at the intervals you set.

1. Select the Gear icon, then Recurring Transactions.
2. Select New.
3. In the Transaction type dropdown, select Check.
4. Enter a Template name (for example, “Monthly Bank Service Fee”).
5. Under Type, select Scheduled.
6. Set the Interval (how often it occurs) and the start date.
7. In the Bank Account field, select the account the fee is withdrawn from.
8. In the Check number field, enter a reference such as EFT or Auto to indicate this is an electronic withdrawal.
9. Leave the Payee field blank, or enter the bank’s name if you prefer.
10. Enter the Amount of the service charge.
11. In the Account field (the expense detail line), select the expense account used to track bank fees (for example, “Bank Service Charges”).
12. Select Save template.

QuickBooks Online will automatically create this transaction for you based on the schedule you set. You can review and manage these templates anytime by going back to the Recurring Transactions list.