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jody_winder
July 20, 2022
Question

Credit Card Sub Account Reconciliation Problem

  • July 20, 2022
  • 1 reply
  • 0 views

Here is a problem that I am trying to clear up in my QBO books:  I have a credit card (Parent Account) with 2 sub accounts.  I have been posting entries to each sub account but reconciling only the parent account.  The balance of the parent account is accurate and matches the CC statement amount.  The problem is the sub account balances are very incorrect.  How do I fix this issue?  Do I need to reconcile the sub accounts individually each month?  I would appreciate any assistance.  I have read other posts about this issue in the community support section but still don't understand how to fix the issue.  Thank-you.

1 reply

A
Alex M
July 20, 2022

Hi there jody_winter,

 

It's vital that all your transactions are correctly entered so that your books can be well balanced. QuickBooks Online is a great tool able to help you keep track of the transactions done so your bank account balances can be accurate. I can provide some information about reconciling.

 

In order to make sure that each sub-account has the right balance after each month, reconciling them would be a great idea to make sure that all transactions are included, and that the total sum of the transactions is correct after every month or quarter, depending on how often you reconcile. This will also help point out the discrepancies month by month so you can see the cause of the difference.

 

If you have any other questions, feel free to reach out here.

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