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what is the correct way to record paying down a credit card?

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What is the correct way to record credit card payments? After reconciling? Or can be just entering an amount of payment? I saw an article dated Dec 22, 2022 listing both ways. Is it one better over the other? Thank you.

QuickBooks Desktop

A

Alex MAnswer

Hello again ConA,

If you'd like to adjust an opening balance, you can do so by following the steps in the linked article. if this were to happen again but there was no opening balance when there should have been one, you can use these steps to add an opening balance.

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

T

Trish_T

Hi ConA,

Thanks for reaching out here. QuickBooks Desktop is a dynamic program that enables you complete your daily bookkeeping goals with confidence. Paying your credit card at the end of a reconciliation is recommended as noted in this detailed guide. I hope this helps!

Please feel free to reach out again with other questions. We're always happy to assist!

C

ConAAuthor

Thank you, Trish.

What happens if a new credit card account wasn't set up with opening balance of zero? Is it possible to correct it?

Thank you.

A

Alex MAnswer

Hello again ConA,

If you'd like to adjust an opening balance, you can do so by following the steps in the linked article. if this were to happen again but there was no opening balance when there should have been one, you can use these steps to add an opening balance.

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

A

Alex M

I'm happy to help ConA. if you have any other questions, feel free to ask them here.

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