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bvbuild1-gmail-c
January 28, 2022
Question

Solution to having three credit cards that are part of one account, but link separately from the bank? It's causing problems reconciling and applies payment to one card.

  • January 28, 2022
  • 1 reply
  • 0 views
I have the three cards listed as sub-accounts under one credit card account name in the chart of accounts, but that doesn't fix how they are linked separately, with separate balances, from the bank. In "banking", all payments on the account are applied to only one card, so the balances of the three cards are always off, and not combined into one account balance.

1 reply

LieraMarie_A
LieraMarie_A
January 28, 2022

Hi there, @bvbuild1-gmail-c. Allow me to share some insights about the bank or credit card subaccount setup.

 

QuickBooks Online is dependent on how your Financial Institution sends the downloaded transactions to the program. Some banks download transactions either to one account or the individual accounts.

 

You'll need to link the parent account only if the transactions download to one account. Otherwise, connect the sub-accounts if the transactions download to individual accounts. You can check out this article for more info: About bank or credit card subaccount setup.

 

Lastly, you only need to reconcile the parent account because all transactions in the sub-accounts roll up into it. 

 

I'm always here if you need more help working with bank feeds. It's my pleasure to help. Have a great day.

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