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Proactiveparenting
August 25, 2022
Question

How can I merge multiple Corporate Credit Card accounts and their transactions into one account to be reconciled?

  • August 25, 2022
  • 2 replies
  • 0 views

Hi,

 

I have a Bank of America Corporate Credit Card Account (1220) with two employee credit cards under it: (4161) and (2846), respectively. On my Corporate Credit Card statement, it shows the transactions made for both employee credit cards, as well as the payments made to both cards, which are made solely through the Main Corporate Credit Card Account (1220).

 

In Quickbooks Online, I added all 3 accounts as Credit Cards in the Chart of Accounts, linked them to my bank, and the transactions were then imported from a certain date. Here's where the problem is: The transactions for both credit cards (4161) and (2846) showed up in their Quickbook accounts fine, but the Corporate Credit Card account (1220) only imported the payments, which I guess is correct (as in the credit account statement).

 

My question now is, how do I go about reconciling the whole corporate credit card account (including the employee cards)? Essentially, how do I get the transactions from both employee credit cards into one account (so I can reconcile them), and likewise, how do I add the payments made to the main corporate account (which were imported to the Main Corporate account in Quickbooks) to merge with the other transactions (from the 2 other accounts) so they can all equal out and be reconciled?

 

Thank you!

2 replies

K
Kevin_C
August 25, 2022

Hi there, @Proactiveparenting.

 

It's great to see you here in the Community space. I'd be glad to assist you with your concern about merging your accounts in QuickBooks Online (QBO) to reconcile them seamlessly.

 

Based on your scenario, I take it that you have set up all of the 3 credit cards as parent accounts. In QBO, we can change the setup of your 2 credit cards (4161 & 2846) as subaccounts of your main corporate credit card account (1220). By doing this, you only need to reconcile the parent account because all of your transactions in the subaccounts will roll up into it. You can refer to this article for more information about this process: About bank or credit card subaccount setup.

 

Here's how you can change the existing parent accounts into subaccounts. If you have an old view of the account setup, follow these steps:

 

  1. Go to Settings ⚙ and select Chart of accounts.

  2. Locate the accounts (4161) & (2846) and click the small arrow ▼, then select Edit in the action column.

  3. Place a checkmark beside the Is sub-account and then select the parent account (1220).

  4. Select Save and Close.

 

If you have the new version of the account setup, follow the steps below instead. Before you proceed, please ensure you’re in the Accountant view.

 

Here's how:

 

  1. Go to Settings ⚙ and select Chart of accounts.
  2. Locate the accounts (4161) & (2846) and click the small arrow ▼, then select Edit in the action column.

  3. In the Edit account window, select the Save account under dropdown ▼ and choose the parent account (1220).

  4. Once done, select Save.

 

If you're good with your transactions, you can now proceed to reconcile an account in QBO. If everything matches, you know your accounts are balanced and accurate. We recommend reconciling your checking, savings, and credit card accounts every month.

 

Furthermore, to ensure that your books are accurate and to avoid messing up the data, I highly recommend seeking assistance from your accountant. 

 

Please post an update on how these steps work out, as I want to make sure this is resolved. Just let me know if you need assistance in reconciling your account. I’m more than happy to lend a helping hand. 

G
GraceGenoguin
September 13, 2022

hello, the credit card account is already a sub-account of my parent's credit card but nothing happens. Still encountered the same issue

    C
    ChristieAnn 11
    September 13, 2022

    Hi there, GraceGenoguin.

     

    Welcome to the QuickBooks Community. Let me discuss extra information on how credit card and parent account work in QuickBooks Online. Then, provide steps to ensure you can reconcile them smoothly.

     

    The most common way to set up a bank account or credit card account with multiple cards associated with it is to create a parent account and then have each individual card set up underneath as a subaccount. Since the credit card account is already a sub-account of your parent's credit card, I recommend adding one more subaccount if you have an additional account that transactions such as payments come into.

     

    Then, when initially connecting your account, the same opening balance transaction may download to all subaccounts. With this, you'll need to delete all but one of these balances when you reconcile.

     

    Here's how:


    1. Click the Accounting menu at the left panel.
    2. Choose Chart of Accounts section. Then, choose the specific subaccount.
    3. Click the View register link under the Action column.
    4. Locate the opening balance and double click it so you can select the Delete button.
    5. Click Yes to confirm.

     

    Furthermore and as mentioned by my colleague, you only need to reconcile the parent account when it’s time to reconcile. This is because all transactions in the subaccounts roll up into it.

     

    You can click this article to see extra details about the details shared above: About bank or credit card subaccount setup.

     

    Lastly, you may refer to this article to view various guidelines that will help you in fixing any issues that might encounter in reconciliation: Learn the reconcile workflow in QuickBooks.

     

    I'm only a few clicks away if you need additional assistance with your other QuickBooks tasks, GraceGenoguin. It's always my pleasure to help you out again. Have a great day!

    S
    SirielJeaB
    November 1, 2022

    I appreciate you for following the steps provided by my colleagues, @jkolbow.
     

    When the browser is loaded with regularly seen pages, the system occasionally behaves strangely. Since you're done performing the workaround, let's perform some basic troubleshooting to speed up your browser's background process.
     

    Start by using a private browser to access your QuickBooks Online (QBO) account (incognito). This is how it's done:


    1. Press Ctrl + Shift + N (Google Chrome)
    2. Ctrl + Shift + P (Firefox)
    3. Control + Option + P (Safari)


    Also, you can refer to this article for additional fixes: Clear cache and cookies to fix issues when using QuickBooks Online. If they continue to be ineffective, you can try other supported browsers as alternatives to get the best and most secure QBO experience.


    If the issue still persists, I recommend getting in touch with our QuickBooks Online Live Support Team. They can initiate a screen-sharing session to assist you further and may create a case for this issue if need be.


    To contact support:


    1. Sign in to your QuickBooks Online company.
    2. In the top right corner, click the Help (?) icon.
    3. Enter your concern, then choose Let's talk.
    4. To contact a live support agent, click Contact Us.
    5. Select Start a chat with a support expert or Get a callback from the next available expert.
     

    You can use these articles as a reference to learn how to categorize your transactions and accurately reconcile your account:
     

    Please feel free to get in touch with the Community if you have any other inquiries about your bank transactions. We're always here to help.

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