Incorrect credit card balance

Let me help you make sure the balance of the card is correct, aatranbill.

You can either record the expenses at once using a lump sum amount or create a journal entry to correct the balance of the credit card account. You can also do it per year so it's easier to track. Please note that this will only affect the balance of the account so you can reconcile it and not change the amount of the taxes.

Here's how to create an expense transaction:

1. Click the + New button and select Expense.
2. Enter all the details of the expense transaction.
3. Select the account that will be used for this transaction in the Category column. You'll also want to reach out to your accountant to check what category to use for this record.
4. Enter the amount of the transaction.
5. Click Save and close.

You can also check out this article in case you want to create a journal entry instead: Create a Journal Entry in QuickBooks Online.

Once done, you can now proceed to reconciling the account. 

Feel free to refer to these articles for additional guidance and reference when reconciling accounts in QBO: 

• Fix Issues The First Time You Reconcile an Account in QuickBooks Online
• What To Do If You Didn't Enter an Opening Balance in QuickBooks Online

Reach out to us again any time of the day if you have other questions or concerns when working in QBO. We'd be happy to help you again.