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Nvalleyrlb87
November 14, 2022
Question

Linking credit card acct

  • November 14, 2022
  • 1 reply
  • 0 views

Hi,

New to quickbooks online but I'm learning it to help manage the books for my husband's construction company. He has an account through chase credit Ink business. He is the primary acct holder and then he has 4 employees that have a business card as well (under his primary acct but all with their own credit cards and #'s) When I link quickbooks with chase, each employee comes through as a separate account but on the statements we receive all the transactions come through under the primary acct. The transactions are separated by cardholder BUT there is no beginning or end balance for each employee...just as a whole of all transactions of everyone, making it nearly impossible for me to reconcile the accounts...anyone else have chase accounts and know how to get around this? Thanks in advance!

1 reply

JaeAnnC
JaeAnnC
November 14, 2022

Thanks for getting in touch with us, @Nvalleyrlb87.

 

Let me guide you in reviewing your beginning balance so you can successfully reconcile accounts in QuickBooks Online (QBO).

 

Before you connect to online banking, you have to be aware of how your bank sends the downloaded transactions. I suggest reaching out to Chase customer service to learn the process of linking your account to QBO. Once confirmed, you can now connect the account.

 

After linking, the same beginning balance transaction may download to all subaccounts. Only the parent account needs to be reconciled because all transactions in the subaccounts roll up in the parent account. 

 

To fix the missing opening balance, I'll show you how:

 

  1. Go to the Gear icon and select Chart of accounts.
  2. Look for the parent account and click View register.
  3. Select the Opening balance equity.
  4. Edit the date and amount.
  5. Select Save.

 

For more detailed steps in reviewing your beginning balance, please refer to this article: Fix issues for accounts you've reconciled in the past in QuickBooks Online.

 

In addition, here's a reference to review downloaded transactions after linking your bank account: Categorize and match online bank transactions in QuickBooks Online. This way, it tries to match transactions you've already entered in QBO and put them in the correct accounts.

 

Please don't hesitate to leave a reply if you need further assistance with reconciling accounts. I'm here to lend a helping hand. More power to your husband's construction company! 

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