Opening balance of credit card and credit card payment from business checking

Welcome to the QuickBooks family, @TraciK1. I'll guide you on how to enter your credit card opening balance and payments in your account.

Entering the opening balance and payments with the correct date is my focus. This allows your books and forms will be accurate at all times.

If you have not yet created your credit card account in QuickBooks Online (QBO), follow the steps below: 

1. Go to the Accounting tab and select Chart of Accounts. 
2. Click New. 
3. Pick the appropriate Account and Detail type in the drop-down. 
4. Type a unique name in the box. 
5. Choose Other in the When do you want to start tracking your finances from this account in QuickBooks drop-down. 
6. Select the credit card statement closed date, then click Save and close. 

Click this link for more information: Enter an opening balance for an account in QuickBooks.

After that, you'll route to the chart of accounts register page. Create the credit card payments from there. Do the following: 

1. Select the View register hyperlink. 
2. Click the drop-down arrow on the left side and choose Bill payment. 
3. Choose December as your date payment. 
4. Complete the required details and click Save. 

If you already have a Chart of Account but don't have an opening balance, I'd recommend creating a bank deposit with the same date and amount. For the complete instructions, see this link: Record and make bank deposits in QuickBooks.

In addition, ensure to connect your credit card accounts to our online banking features, so it downloads your transactions automatically. Then categorize it and reconcile the account whenever you're ready. 

Find out more about how to add account numbers and another way to record credit card payments:

• Record your payments to credit cards
• Learn about the chart of accounts in QuickBooks

Drop a line if you have follow-up questions about your bank feeds. I'm happy to answer all of your questions. Keep safe, TraciK1.