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JDMconnect
July 1, 2024
Question

Recording a last statement balance bank transaction

  • July 1, 2024
  • 1 reply
  • 0 views

My linked credit card was converted into a new credit card (new credit card number). The credit card automatically updated in quickbooks, however, when the credit card was converted a last statement balance came through quickbooks as a bank transaction. How do I categorize this statement balance, as when I go to the bank register, the ending balance is already correct without this bank transaction (the last statement transaction) being categorized?

1 reply

E
Erika_K
July 1, 2024

I've got you covered, JDMconnect. I'm here to assist you in clearing your credit card balance while maintaining the accuracy of your financial records in QuickBooks. I'll guide you through the process and ensure your books remain up-to-date and accurate. 

 

Since these data are last statement balances, you'll need to exclude the entries that came through after you changed your credit card's account number. By doing this, you'll ensure that QuickBooks doesn't re-import these transactions from the bank, maintaining the accuracy of your financial records and avoiding potential confusion. It'll also prevent duplicate or double credit card balances.

 

I'll show you how:

 

  1. Go to the Transactions menu and choose Bank transactions.
  2. Select the For review tab.
  3. Tick the checkbox beside the Date column.
  4. Once done, click Exclude.

 

I'm always around the corner if you have additional questions about handling your bank transactions or account balances in QuickBooks, JDMconnect. Just hit the Reply button, and I'll circle back to offer a helping hand. Have a great rest of the week.

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