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MedNavigate
April 9, 2021
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recording of credit card payment receipt in QBO --I use transfer to credit card in checking--

  • April 9, 2021
  • 1 reply
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Hello, I currently download all of my checking and credit card transactions into QBO.  This leaves me with a credit card payment deduction in checking for which I use "transfer to credit card" and a credit card payment receipt transaction for the same amount.   How do I handle the payment receipt transaction downloaded from my credit card account? This payment is always posted 1 or more days following the transfer from checking to credit card transaction date. I have tried recording as transfer again, but then the amount is double posted?

 

Best answer by Ryan_M

Hi @MedNavigate,

 

You have a couple of options on how to deal with this transfer transaction from your checking account to your credit card account in QuickBooks Online (QBO).

 

First, you can match the expense transaction to the transfer transaction you created earlier. You can also exclude the downloaded transaction. It's fine since you already recorded the transfer transaction as you stated above. When you reconcile your checking account, the balance will agree with your actual bank account since the transfer was already accounted for.

 

You can take a look at this article to learn more ways on how you can record credit card payments in QBO: Record your payments to credit cards. 

 

I also mentioned bank reconciliation earlier, so I'll share these articles with you:

 

Tag me in a comment below if you have other concerns with your bank accounts in QBO. I'll be sure to get back to you. 

 

 

1 reply

R
Ryan_MAnswer
April 9, 2021

Hi @MedNavigate,

 

You have a couple of options on how to deal with this transfer transaction from your checking account to your credit card account in QuickBooks Online (QBO).

 

First, you can match the expense transaction to the transfer transaction you created earlier. You can also exclude the downloaded transaction. It's fine since you already recorded the transfer transaction as you stated above. When you reconcile your checking account, the balance will agree with your actual bank account since the transfer was already accounted for.

 

You can take a look at this article to learn more ways on how you can record credit card payments in QBO: Record your payments to credit cards. 

 

I also mentioned bank reconciliation earlier, so I'll share these articles with you:

 

Tag me in a comment below if you have other concerns with your bank accounts in QBO. I'll be sure to get back to you. 

 

 

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