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O
Oatmo
September 1, 2022
Question

Bank Feeds for Corporate Credit Card with sub accounts

  • September 1, 2022
  • 1 reply
  • 0 views

Hello,

 

We have a corporate American Express card with 3 employee cards. When I connect the bank feeds, American Express only gives me the top account, so the bank feed comes into to parent account. All of the transactions have been recorded in the sub-accounts. When I try to match the bank feed transactions, it will only search the parent account, no transactions in the sub-accounts. I called support and the agent couldn't figure out how to do it after an hour of trying. 

 

Is there a way for the bank feed to match transactions from the sub-accounts? If not, what's the most efficient way to move all the sub-account transactions to the main account (I would prefer not to go through a thousand transactions and change the account).

 

Thanks

1 reply

katherinejoyceO
katherinejoyceO
September 1, 2022

I appreciate you for posting detailed information about your banking concerns, @Oatmo. 

 

The best way to match the transactions from the sub-accounts is to determine whether the transactions download to one account or to the individual accounts. 

 

Here's a tip: Connect only the parent account if the transactions download to one account. Connect the subaccounts rather than the parent account if the transactions download to individual accounts.

 

In your case where your credit card account has multiple cards associated with it, you'll need to setup a parent account, and then have each card set up underneath as a subaccount. 

 

Here's how to create a subaccount:

 

  1. Go to Settings menu, then select Chart of accounts.
  2. Click New. 
  3. Depending on your account view, you’ll either see a panel labeled New account or New category.

 

To continue, you can visit this article to follow the steps according to what panel label you have: Create subaccounts in your chart of accounts in QuickBooks Online.

 

For future reference, follow and bookmark these links for a step-by-step guide of matching your transactions in QuickBooks, and compare it with your actual bank statements:

 

 

I'll be right here if you need more help matching your transactions from the sub-accounts. Take care!

O
OatmoAuthor
September 1, 2022

Unfortunately, American Express does not appear to have the option to download the individual cards to sub-accounts. That's the root of my problem.

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