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D
dskott
October 29, 2022
Question

Credit Card Transactions- reconciling charges and payments

  • October 29, 2022
  • 1 reply
  • 0 views

Hello. My bank has the credit card account setup with one account with the charges, and another that gets the payments. In QB I have both account setup. But, the charges account is large and positive (as the payments never hit it) and the transaction account is large and negative (as it gets the payments, but no

1 reply

M
mv32
October 29, 2022

Let me help you ease your confusion, @dskott.

 

When connecting accounts to Online Banking, we'll have to determine how the bank sends the downloaded transactions. In your case, they're downloaded to the individual accounts. It is correct to connect the credit card accounts to bank feeds.

 

In addition, make sure to have a separate copy of account statement so you'll know which transactions to reconcile.

 

On the other hand, do you mean you're setting up two credit card accounts for expense and customer payments? Additionally, you may consider checking these transactions with your accountant to keep your books accurate and reconcile them seamlessly.

 

Furthermore, you can review this reference about bank or credit card subaccount setup for more details.

 

If you have additional questions, feel free to drop a comment below.

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