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ghowington00
November 19, 2023
Question

AMEX Bank Feed Change - How to Handle Going Forward?

  • November 19, 2023
  • 1 reply
  • 0 views

Good evening,

 

I'm a bookkeeper for a small organization that uses QuickBooks Online. Our company credit card of choice is American Express, we have one of the Delta SkyMile cards that allows you to have multiple employee cards under the main card (which our CEO uses).

 

Up until recently the integration between QBO and AMEX worked perfectly for us: we have a parent account set up and then child accounts for each of the individual cards. The bank feed brings these transactions into QBO on a per card basis so each card would be linked to each child account and everything would be good. In QuickBooks there are accounts we can quickly access for Employee A's transactions, Employee B's transactions, and so on, and the parent account means reconciliation isn't made any more tedious.

 

We recently hired a new employee who received an additional AMEX card. When I try to connect this employee's card to the bank feed, it only gives me the option to bring in the main card which just lists all employee transactions in one gigantic list, it doesn't allow me to choose an individual employee's card. 

 

The connections I currently have for the other employees seem to still be working fine, it just seems like I can't add new employee cards in the old way.

 

So, what do I do going forward? I've seen the instructions from QuickBooks on "Connecting your American Express accounts to one bank feed in QuickBooks Online" by utilizing the new "American Express Credit Card (US) - Parent Accounts" connection but will this method allow me to differentiate which employee made which purchase? If not, what should I do going forward to record our monthly transactions?

 

My accountant and I really need to be able to quickly see only transactions from specific employees and the parent account/child account set-up really worked great for us. Thankfully it's year end so we can change how we do things relatively soon but that means we need to figure out how to fix this issue or work around it ASAP. Any help would be greatly appreciated, thank you. 

1 reply

C
CamelleT
November 20, 2023

Let's sort out this sudden change on your AMEX and QBO integration, ghowington00.

 

Since you mentioned that everything worked fine before, and now there are several changes in how AMEX works, I suggest contacting their customer support to confirm whether these are the newly implemented adjustments or transition regarding adding new employee cards. 

 

To see the specific transactions for each employee, a workaround for this is manually adding the transactions for each new employee you will add. This way, you can still differentiate which employee made certain purchases. 

 

Additionally, check out this article to help you record multiple accounts in a transaction: Enter a split transaction into the register in QuickBooks Online.

 

I'm still all ears if you need further questions about your bank feed change and adding new employee concerns. Just drop a reply below, and I'll get back and assist you. Stay safe!

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ghowington00Author
November 20, 2023

I appreciate the reply but:

  • these are absolutely newly implemented changes, QuickBooks have released articles about it like the one I linked to in my post. 
  • Manually adding transactions is a complete nonstarter. We have hundreds of transactions a month and one bookkeeper. 
  • Recording multiple accounts for a single transaction doesn’t help me at all here so I don’t know why that would even get brought up. My problem is needing to assign specific transactions to employees, not split up transactions. 

Again, I appreciate the response but this did not really even address what my issue is. 

R
ReymondO
November 20, 2023

Thank you for responding to the thread, @ghowington00.

 

I understand that manually adding transactions in QuickBooks can be inconvenient. Therefore, I'd like to offer you some alternative solutions to help you track your employee's transactions in the program.

 

Regarding connecting new employee cards in the traditional way, I recommend reaching out to your financial institution for more information on the new methods of linking individual employee cards to QuickBooks Online Banking. It would also be helpful if you could share the link you mentioned regarding the newly implemented changes.

 

Another method to record transactions from your bank is by manually uploading them into QuickBooks. You can do this by creating a new child account for the employee and saving it under your parent account. Here's how:

 

  1. Go to Settings ⚙ and select Chart of accounts.
  2. Click New.
  3. In the Category name field, enter a name for the category (subaccount).
  4. Select the Select category link. This is where you will choose the parent account that this category (subaccount) belongs to.
  5. Choose the type of account that you’re creating the subaccount under.
  6. Select Next.
  7. Choose the account that the new subaccount fits under. Your options will vary depending on what you selected in step 5.
  8. Click Save to save a bank or credit card account.

 

Once you've completed these steps, you can import transactions from the AMEX bank into QuickBooks Online manually . After doing this, your employee's bank account will appear on the Banking page.

 

After importing the transactions, you can categorize them to accurately organize your charts of accounts.

 

If you encounter an error code or message when trying to connect a bank account or upload transactions manually, you can refer to this article for troubleshooting: Fix bank errors in QuickBooks Online.
 

Please feel free to reach out if you have any further questions about connecting your AMEX bank to QuickBooks or its integrations. Have a good one. 

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