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April 17, 2024
Question

How do i allocate one credit card payment among many expenses on qb online?

  • April 17, 2024
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1 reply

April 17, 2024

You can easily record your credit card payment for many expenses in QuickBooks Online (QBO), tony652.

 

There are multiple ways to track your expense transactions accurately in the program, and I can walk you through the process. If your credit card and bank account are not connected to online bank feeds, you can follow these steps to record the credit card payment directly. Let me show you how:

 

  1. Click the + New button.
  2. Select Pay down credit card under the Other section.
  3. Choose the credit card to which you made the payment.
  4. Enter the date of the payment and the amount.
  5. Pick the bank account you used to pay for the credit card.
  6. If you made a payment with a check, tap I made a payment with a check.
  7. Once done, tap Save and Close.

 

On the other hand, if your credit card and bank account are connected to online bank feeds, you can record the payment by transferring the record instead. Here's how:

 

  1. Go to Expenses from the Expenses tab in the MENU dropdown.
  2. Pick the account from which you need to transfer the payment.
  3. Choose the transaction, then click the Pay down credit card radio button.
  4. Select the Transfer account dropdown menu and pick the account you want to send the transaction to.
  5. Click Confirm.

 

Once done, you need to match the transaction transfer to the new account by locating the transaction from the Recognized tab and clicking the Match button.

 

For more details about this process and other alternatives to record credit card payments, please refer to this article: Record your payments to credit cards in QuickBooks Online.

 

Additionally, make sure to reconcile your credit card accounts in QBO every month to confirm that they are balanced and accurate.

 

You can always inform us here in the Community if you have further concerns with recording your transactions or categorizing your accounts. I'm always here to lend a helping hand. Have a great day ahead!