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lauraham
February 14, 2020
Question

payment made to credit card before reconciliation

  • February 14, 2020
  • 1 reply
  • 0 views

I am reconciling my new credit card but already made a payment in full to the account before reconciliation.  I am being asked at the end of reconciliation whether I want to write a check for the balance now, write a bill for later or leave the balance in the reconciliation account.  Since I already paid the credit card I don't know what to do here.

1 reply

S
SarahannC
February 14, 2020

We based on the credit card statement when reconciling an account in QuickBooks, lauraham.

 

When you hit the Reconcile Now button, QuickBooks will recognize that you want to pay off the credit card balance in a lumpsum amount. It's possible that we haven't created a payment yet within QuickBooks to zero out the balance.

 

If you haven't yet recorded the payments in your book, you can write a check to offset the amount since you've paid it already.

 

You can check out these articles to do the complete process:

 

Let me know if you have more questions with this. Take care!

L
laurahamAuthor
February 14, 2020

Thank you for your response and feedback. I went ahead and chose the option to write a check for the balance. Now I have the check on my screen which is from my business checking account.  Since I already hand wrote a check From this account (already cleared) to pay this amount,  this new transaction On my screen will create another check for the same amount. Doubling the payment. How do I get around this?  Thank you 

IamjuViel
IamjuViel
February 14, 2020

Let me share additional information on how the credit card reconciliation works, @lauraham.

 

Before initiating the reconciliation process, we have to make sure that all of your transactions are recorded in QuickBooks. Let's view both of your credit card register and the register of the account you use in making the payments. Once open, verify that no credit card payments are recorded on it. This is to ensure that you'll not incur any duplicate records.

 

If it is not recorded at all, you can proceed with writing a check. This will let your payments show up in your credit card register along with your charges and you can reconcile the account normally.

 

Here's a screenshot for your reference:

On the reconciliation page, make sure to input the correct dates to include the transactions to reconcile. I'm adding this article to help you with the reconciliation process: Reconcile in QuickBooks Desktop.

 

Keep me posted if you have additional questions about credits. I'm still here to help you further. Just add a comment below or mention my name. Wishing you and your business continued success!

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