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Entering CC Expenses from Melio Payments

Forum|Forum|6 years ago
March 11, 2020
2 replies
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We used Melio payments to pay off a couple bills. These are regular bills, so our P&L reports show the expense accounts allocated in the bill. But now, when it comes time to reconcile the credit card we used to pay the bill through Melio, if we enter CC expenses with the same expense account allocation, that will result in double-reporting. Can we leave all of the department and expense account information blank when entering the CC expenses?

QuickBooks Online

Best answer by john-pero

When you Pay Bills you have the option to select any of your checking accounts OR post the payment as coming from any credit card type accounts you have added to your chart of accounts. Doing this will not result in double expenses. You may need to edit or change how you previously recorded the bill payments.

C

Catherine_B

Hi there,

We may not record a Credit Card expense since we mentioned you’ve already included it when entering the bill. When reconciling the account, we can leave the Finance charge section blank and then start reconciling.

I also suggest reaching out to an accountant for further verification on how we’ll allocate expense credit card charges. We can also look into this article on how we record credit card payments in QuickBooks so we’ll accurately keep track of our expenses.

I’m here if there’s anything else that you need help with. Have a great day!

EviaEventsAccountingDeptAuthor

Hi Catherine,

Thank you for your reply. Fortunately, I figured it out. In the Bill Payment, for "Bank/Credit Account," I selected the appropriate credit card liability account. Now it shows up in the credit card account register.

Thanks again and have a good rest of your week!
~Noah

john-peroAnswer

When you Pay Bills you have the option to select any of your checking accounts OR post the payment as coming from any credit card type accounts you have added to your chart of accounts. Doing this will not result in double expenses. You may need to edit or change how you previously recorded the bill payments.

EviaEventsAccountingDeptAuthor

Hi John,

Thank you for your reply. I did as you advised: in the Bill Payment, for "Bank/Credit Account," I selected the appropriate credit card liability account. Now it shows up in the credit card account register.

Thanks again and have a good rest of your week!
~Noah

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