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February 1, 2023
Question

Hi, for the ones with Bank of America account. How do you reconsile your credit cards, since Bank of America has two accounts for one credit card?

  • February 1, 2023
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1 reply

February 1, 2023

Hello there, @Robin Hood Adjuster.

 

You'll want to set up the first bank account as a parent account and the other as a sub-account.

 

Here's how:

 

  1. Go to the Banking menu or Transactions menu.
  2. Select Connect from the landing page, or select Add account if you've already created an account.
  3. Search for your bank. 
  4. Click Continue, then enter the username and password you use for your bank's website in the pop-up window. 
  5. Select the type of account you want to add. 
  6. Select the date range for the download. Some banks download the last 90 days of transactions, while others go back as far as 24 months.
  7. Click Connect.

 

Once you connect to Online Banking, you'll have to make sure how your bank sends the downloaded transactions. If the transactions download to one account, connect only the parent account. If the transactions download to the individual accounts, connect the subaccounts, not the parent account.

 

If you're opening balance is incorrect, you'll want to delete the balance. I'll guide you on how.

 

  1. Click the Accounting menu on the left panel.
  2. Select Chart of Accounts
  3. Select the account, then click View register.
  4. Click Edit to delete the opening balance. 
  5. Click Save.

 

Once done, you'll want to reconcile the parent account because all transactions will also roll up in the sub-accounts.

 

For more information, please check your Banking and bank feed.

 

Reach out to us always if you have other questions. I'm always right here to help.