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bassplayer
June 7, 2020
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Reconciling same credit card on 2 qbooks accounts

  • June 7, 2020
  • 2 replies
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Hello,

 

I have 2 qbooks accounts for 2 businesses.  I use my personal amex for both accounts plus personal.  I have all the statements and the transactions in a excel file (csv).  The statement starts in the second account and the moves to the first.

 

My question is - Do I need to exclude everything else and just balance one acct and then move to the other acct and do the same thing?

 

What is the best way to do this?  I have read over the reconciling with a manual upload but, just need to make sure there are no duplicates I make a mistake that I cannot fix.

 

Thank you in advance.  Sorry for the confusion.  If I get this done, I will know what to do with my personal credit union debit card.  Same issue.

Best answer by MaryAnn_E

Hello there, @ bassplayer.

 

 

 

 

It’s possible when you manually upload transactions, it causes duplicates. You have the option to exclude duplicate transactions and let me share with you the steps.

 

Before doing so, you'll need to compare two transactions to verify they’re duplicates. Once verified, you can follow the steps below to complete the process.

 

  1. In the left navigation tab, click on Banking.
  2. In the For Review tab, select the duplicate transactions. 
  3. Click on Batch actions and select Exclude Selected. 
  4. In the Excluded tab, check the boxes for these duplicates.
  5. Click on Batch actions and select Delete.

 

I've also attached some articles you can use about how to match your transactions as well as other ways to categorize them in QuickBooks:

 

 

 If you need more help with excluding your duplicates transactions. Just hit the reply below. Have a good one.

2 replies

M
MaryAnn_EAnswer
June 7, 2020

Hello there, @ bassplayer.

 

 

 

 

It’s possible when you manually upload transactions, it causes duplicates. You have the option to exclude duplicate transactions and let me share with you the steps.

 

Before doing so, you'll need to compare two transactions to verify they’re duplicates. Once verified, you can follow the steps below to complete the process.

 

  1. In the left navigation tab, click on Banking.
  2. In the For Review tab, select the duplicate transactions. 
  3. Click on Batch actions and select Exclude Selected. 
  4. In the Excluded tab, check the boxes for these duplicates.
  5. Click on Batch actions and select Delete.

 

I've also attached some articles you can use about how to match your transactions as well as other ways to categorize them in QuickBooks:

 

 

 If you need more help with excluding your duplicates transactions. Just hit the reply below. Have a good one.

B
bassplayerAuthor
June 8, 2020

Hello Mary Ann,

 

Thank you for the advice.

 

Q- If I manually upload the same file into both business as some relate to business 2 and some relate to business 1?

 

ex.  Amex in bus 2 is showing a balance of 3,100.00 and 717 in bus 1.  I have google g suite for business 1 and 2.  Also qbooks for both businesses.

C
Catherine_B
June 8, 2020

Hello there, bassplayer. 

 

In addition to what my colleagues suggested, yes, you can upload the same file to both business accounts. Let's just ensure that you don't add transactions to the incorrect bank to avoid duplicates and it will be easier for you to reconcile. You can always add, match or exclude transactions according to the bank statement. 

 

If there are transactions that you've mistakenly added or excluded you can always Undo the action so it'll be removed in your bank's register. I'll show you how to undo for those accidentally added or matched transactions:

  1. From the Banking page, select the first bank that you've already uploaded the transactions. 
  2. Go to the Reviewed or Categorized tab. 
  3. Select the transactions that you need to remove. 
  4. Click the Undo button.

The transactions are now moved to the For review tab for you to manage again. Once done, you can now proceed in reconciling the accounts. 

 

You always got our back if there's anything else you need help with. You take care always!

T
Teri11_2
June 8, 2020

@bassplayer 

 

I would highly recommend that you have two separate credit cards for each business and a third one for personal as that would make your accounting SO much easier and significantly reduce the risk of errors.

B
bassplayerAuthor
June 8, 2020

 Hello Teri Level 8,

 

 

I have learned my lesson. Once I get this squared away and everything is 0, I will just transfer money to those accts and pay bills that way.  it will automatically transact from separate accts.  No more mess.  I will be able to file taxes this year and have brand new bus accts.

 

Thank you

 

 

 

 

    T
    Teri11_2
    June 9, 2020

    @bassplayer - 

     

    Most people learn this lesson the hard way, so you are definitely not alone on this one here.

    Most accountants tell you this from the start, or they should, but we also know many clients don't listen, since it sounds like more work in the beginning, but we already know how much worse it will be later.  

     

    Cheers!

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