If the credit card and the bank account you use to pay the credit card expense are connected to online banking, you can record the payment by transferring the record. I can guide you through the step-by-step process.
To transfer the payment, you can use the Record as transfer or Pay down credit card option. To do this, here's how:
- Go to the Expenses page.
- Choose the account you need to transfer the payment from.
- Select the transaction, then choose the Record as transfer or Pay down credit card radio button.
- Select the Transfer account ▼ dropdown menu and select the account you want to send the transaction to.
- Click Confirm.
After done making the transfer, you'll have to match it with the new account. Here's how:
- In the Bank transactions page, go to the For review tab.
- Locate and select the downloaded transaction to expand the view.
- Review the Suggested matches for any possible matching transactions already entered in QuickBooks.
- Select the link next to each match to get more details. Make sure that the match is correct.
- Choose a match if it's correct, then select Match.
For more details on handling payments to your credit cards and matching them to your downloaded transactions, check out these articles:
For future reference, you can consult this article on best practices for reconciling your account: Reconcile an account in QuickBooks Online. This article also provides guidance on addressing challenges during the reconciliation process.
Did you know you can get tailored guidance to keep your financial records organized and reduce stress at tax time? Our QuickBooks Live Expert Assisted service offers various help, such as properly categorizing transactions and resolving issues like mismatched balance statements.
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