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Eric9999
February 11, 2020
Solved

I have a business credit card account with Bank of America. The credit (payment) show in one account that oversee 4 credit cards( debits ) I wonder how to reconcile ?

  • February 11, 2020
  • 5 replies
  • 0 views
Original commenter did not share additional details
Best answer by MadelynC

I think we agree about the solution. Moving those 3 account under 1 parent and 2 sub accounts. I'm wonder if Alex V could give a follow up about how to move forward with this solution without messing up QP data?

 

Many thanks


Hello ericgillet,

 

You can edit the accounts anytime. You’ll want to make sure to tag all transactions to their respective accounts.

 

This way, you can guarantee the transactions are accurately entered.

 

I’m adding a link that lists all our self-help articles. This page contains other resources that can help manage your business: Help articles.

 

For any other concerns or questions about QuickBooks, let me know by posting a comment below. I'll jump right back in to assist further.

5 replies

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Eric9999Author
February 11, 2020

I'm wondering if I need to merge the various credit cards account where the charges show under the account set up by bank of america where I pay  the credit cards monthly,

So basically all the transactions of the business credit cards will show under 1 account.

Of course I'm wary about doing this in case I mess up and lose all my data. I'm specially wary because quickbook support as not been able to help at all. They simply say disconnect and reconnect the account and process financial journal. I think the software is way better than that. They seems to be unable to understand my issue 

I canceled 2 cards but here is the issue. Reward 9668 is where I pay the credit card. 

Reward 4608 and 9788 are 2 credit cards that we use. In quickbook it's 3 account that are linked to Bank of America 

Any help will be greatly appreciated.

 

AlexV
AlexV
February 11, 2020

Good day, ericgillet.

 

I'd like to verify if the other accounts are sub-accounts.

 

When syncing them in QuickBooks Online, we only need to connect the account which Bank of America bank sends the transactions. If all transactions reflect only in Reward 9668, this is the only account you need to connect into QuickBooks.

 

We can only link one account, either the parent or the sub-account. Please refer to this article about bank or credit card sub-account setup.

 

I want to share this article for your guide in reconciling accounts in QuickBooks Online.

 

Please comment to this thread anytime. I'm looking forward to assisting you again. 

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Eric9999Author
February 11, 2020

Thanks Alex,

 

This is helpful. I was able to link all the account because I did not set up them as parent/sub account.

The good news is that this is fairly recent.

Now my next question will be be: How to fix this? Can I simply edit the account now as parent/sub account?

Will I then wait the night batch and the expenses from the sub account will move to the parent account?

 

Many thanks.

 

Eric

 

M
MalySmallBiz
January 8, 2023

I was having the same problem. I am a small business therefore I can look closer into the details. I keep receipts of all my transactions on my credit cards. The main account (Core Account) was not showing the transactions for the other "umbrella" accounts. The core account was only showing the "total" balance. Like everyone else, I tried linking the umbrellas to the core (parent)account. Not possible. What I did do was go to my uploaded receipts (fairly easy because I obtain most of my receipts via email or I use the QB App and take pics of my paper receipts during my spare time.) As I categorized my uploaded receipts from the "umbrella" accounts, I specified the "Bank/Credit account" as the designated "core/main" account. I completed the rest of the information as far as, type of expense, customer, category...etc. After this, since QB cannot match it to anything, I clicked "Create Expense"... and once I did this, all of the transactions appeared in my "Core account" perfectly matching to the balance with Bank of America. This is useful to me since I link all my receipts to their designated transactions anyway and this saves me time from manually having to input the expenses in the core account as journal entries. I don't know if this will backfire in any way, but it was the best solution that I personally was able to find. I hope this helps someone.

    M
    MJCHOE
    August 15, 2023

    The issue remains to be solved.  My business is rather small, so I've been using other free online accounting program (Wave) without any issues on BoA credit card account.  I recently switched to QBO, and started having problem. 

    I created one parent account (say, BoA-CC) manually and made all the BoA online account as the sub-account of the BoA-CC.  This way, the parent account (BoA-CC) is kind of okay, but the subaccounts are always of balances unless I manually create a transaction between these accounts.  I can't even run reconciliation on the individual accounts. 

    I may need to go back to Wave at some point.

     

      V
      VegasGio
      November 14, 2023

      Hello, I'm new to this.

      How did you connect the credit cards?

      Only the 2 sub or all 3?

      D
      DebSheenD
      November 14, 2023

      Hello there, @VegasGio. I'm here to help connect your credit card accounts to QuickBooks Online (QBO).


      I recognize how convenient it is to connect QBO to your credit card account. It guarantees that your transactions are recorded on time and categorized properly.

       

      Please know that when setting up an account in the Chart of Accounts, your bank won't automatically show up in your bank feeds unless you're connected to your online banking. I'll show you how:

       

      1. Go to the Transactions menu.
      2. Choose Bank Transactions. Click Link account.
      3. Enter your bank name or the bank's URL.
      4. Click Continue and enter your bank details.
      5. Follow the onscreen instructions.
      6. In the Which accounts do you want to connect? page, select the existing credit card account from the drop-down arrow.
      7. Select Connect.
         

      Please visit this article for more detailed information about the steps given above: Connect bank and credit card accounts to QuickBooks Online.

       

      Once you're all set, feel free to visit these handy articles on what's next after connecting your bank account in QuickBooks:

       

      Please let me know how it goes. I'd be happy to help if you need further assistance with connecting credit card accounts, @VegasGio. Have a wonderful week ahead. 

      V
      VegasGio
      November 14, 2023

      Unfortunately, during the initial setting when I connected with Bank of America, QuickBooks suggested to select all the bank accounts and placed them as single independent accounts; now I cannot change it anymore... Should I cancel the linked account and re do that manually?

      Are you sure it won't duplicate expenses? I haven't categorized any yet.

      H
      harrisjinc-yahoo
      November 13, 2024

      Was this problem ever resolved?

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