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Kvictoria_6
September 9, 2024
Question

How to Process a Credit Card Payment from an Account not tracked in QBO?

  • September 9, 2024
  • 1 reply
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One of the credit card accounts I am tracking within QBO was paid off in full by an outside bank account not tracked in QBO and was a one-time, final payment. Usually, to process a CC Payment or Transfer, you would need to specify the "Transfer funds from" or "Bank Account used for payment", but in this case, the account that was used to pay is not in QBO and is not going to be entered into QBO for tracking. How would I process this payment?

 

Thank you!

1 reply

R
RhoiceW
September 10, 2024

Hi there, Victoria. Let me provide the steps for recording your credit card payments in QuickBooks Online (QBO).

 

Since you don't want to add your account to record the payment, I suggest creating a journal entry to keep track of it.

 

Here's how:

 

  1. Go to the + New icon, then select Journal Entry.
  2. On the first line, select the expense account for the purchase.
  3. Enter the purchase amount in the Debits column.
  4. On the second line, choose Partner's equity or Owner's equity.
  5. Enter the exact purchase amount in the Credits column.
  6. Select Save and close.

 

Also, when you decide to reimburse the money, you have two options. Refer to this article for detailed steps: Pay for business expenses with personal funds.

 

In addition, refer to this article to learn how to categorize bank transactions in QBO: Categorize online bank transactions in QBO.

 

Comment on the post if you still have concerns about credit card payments in QBO. I'll be right here to help you..

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