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dziwenka-toxalta
May 30, 2020
Solved

How do I enter my USD credit card?

  • May 30, 2020
  • 2 replies
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Original commenter did not share additional details
Best answer by AddieC

Hi there, 

 

I know how important it is to be able to link your bank and credit card accounts to QuickBooks Online. Not all of your credit cards will be Canadian ones, and luckily QBO makes it simple for you to account for foreign currency transactions. I'd be happy to explain how you can add your USD credit card to QBO.

 

The first step will be to enable the Multicurrency feature. Multicurrency is available in QBO Essentials and Plus. If you need this feature but your version doesn't support it and you're considering an upgrade, take a look at this article: How do I upgrade my QuickBooks Online subscription. 

 

Once you've enabled Multicurrency, you can connect your USD account to the Bank Feed or Chart of Accounts. If you want to see automatic uploads of your transactions, you can connect your account to the Bank Feed by following the steps here: Connect bank and credit card accounts to QuickBooks Online.

 

If you're not interested in automatic uploads, you can simply set this account up as a credit card account in your Chart of Accounts. To do that, click Accounting > Chart of Accounts > New. Select Credit Card as the account type, and make sure to select USD as the currency. 

That's all there is to it. If you have any other questions, please don't hesitate to reach out to our tech support team. 


Have a great week.

2 replies

AddieC
AddieCAnswer
June 1, 2020

Hi there, 

 

I know how important it is to be able to link your bank and credit card accounts to QuickBooks Online. Not all of your credit cards will be Canadian ones, and luckily QBO makes it simple for you to account for foreign currency transactions. I'd be happy to explain how you can add your USD credit card to QBO.

 

The first step will be to enable the Multicurrency feature. Multicurrency is available in QBO Essentials and Plus. If you need this feature but your version doesn't support it and you're considering an upgrade, take a look at this article: How do I upgrade my QuickBooks Online subscription. 

 

Once you've enabled Multicurrency, you can connect your USD account to the Bank Feed or Chart of Accounts. If you want to see automatic uploads of your transactions, you can connect your account to the Bank Feed by following the steps here: Connect bank and credit card accounts to QuickBooks Online.

 

If you're not interested in automatic uploads, you can simply set this account up as a credit card account in your Chart of Accounts. To do that, click Accounting > Chart of Accounts > New. Select Credit Card as the account type, and make sure to select USD as the currency. 

That's all there is to it. If you have any other questions, please don't hesitate to reach out to our tech support team. 


Have a great week.

C
Catherine Bernier
November 4, 2020

Super. Now how do I categorize a US Credit Card Payment from my US bank account? It says that we can't register a credit card payment in another currency than the home currency (which for me is Canadian).

I read about the clearing accounts but I am confuse as to how to use it (transfer or payment of a supplier...)

J
JamesM
November 4, 2020

Hi Catherine. Glad to have you contribute to this Community post. I'll be glad to steer you in the right direction with recording a US credit card payment. To ensure accuracy, I recommend consulting an accounting professional for expert advice. If you're not in contact with one I suggest searching for one on our site. I'll leave this question open in the community so other members can chime in and share their advice. In the meantime, check out this helpful article with info on how to: Record your payments to credit cards.

 

Feel free to reach out if you need anything else. I'll be here.

O
orenmarciano
April 4, 2022

I found the best way to do so is use "Transfer" in both the bank account register and credit card register. Choose the matching account on both sides. You will see the "Match" option appear once you have done one side.


I set it up as a rule in my bank account register and now it shows up us a "match" automatically in the CC register. 

Seems to work well!

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