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jpc4
February 28, 2023
Question

bussiness charge card

  • February 28, 2023
  • 1 reply
  • 0 views

i have a bussiness charge card which will not connect to the bank in quick books,

the card is settled every 30 days  in my business account, which is showing 1 single monthly payment but i have multiple transactions on the charge card which i can't match , anybody any idea what to do please ,🙏

1 reply

C
ChristieAnn 11
February 28, 2023

Hi there, jpc4.

 

Thank you for visiting the QuickBooks Community. I'll share details on how matching transactions work in QuickBooks, then ensure you can find a match for your entries in QBO.

 

Please know that QuickBooks will automatically match your transactions once it detects entries with similar amounts and details. However, there are several reasons why QuickBooks may not recognize a match. You can read each detail below:

 

  • The transaction is not in the books.
  • The transaction is older than 180 days.
  • The transaction that you've imported is a payment/ deposit of two or more open transactions in QuickBooks.
  • The transaction was recorded in a different bank account.

 

Then for you to be able to match the payment to multiple transactions, you can use the Find Match tool and turn on Suggested Matches to see options that might match. You can also use filters/searches to locate transactions. Here's how:

 

  1. From the Banking menu and select Banking and go to the For review tab.
  2. Click the transaction and select Find match. If you can't find the match, click Find other matches.
  3. Turn on the Suggested Matches button. Then, look for the match transactions and check their boxes. 
  4. Click Save.

 

Furthermore, if the single monthly payment you're referring to is a customer payment, you can record the payment on the Receive payment page to mark the invoices as closed. The transaction should then be posted under Undeposited funds so that you can record a deposit.

 

Once done, you can now match the created deposit above with the payment from the Banking section.

 

Lastly, you may refer to this article to see steps on how you can reconcile your accounts so they always match your bank and credit card statements and to avoid discrepancies: Reconcile an account in QuickBooks Online.

 

Don't hesitate to tag my name in the comment section below if you have other concerns about matching your transactions in QuickBooks. I'm always ready to help.

J
jpc4Author
February 28, 2023

Hello, I’m having some confusion over the owners draws as well. I have transfers between personal and business accounts. How do I record the transaction from the business account to the personal if it is a personal draw? 

at the moment it is showing expenses,

not sure this is right for drawing s

thanks so much🙏

L
LeizylM
March 1, 2023

Hi there, jpc4. I'll make sure you'll be able to record personal expenses from a business account in QuickBooks Online (QBO). 

 

When an owner uses a business account to pay for a personal expense, you'll have to create a cheque or expense in QuickBooks. Once done, you can now reimburse the company if you want. 

 

To record personal expenses:

 

  1. Click on + New.
  2. Choose Check or Expense.
  3. Choose a Payee from the drop-down ▼.
  4. Hit the Bank Account, Cash Account, or Credit Card you used to make the transaction.
  5. From the Category details, hit the drop-down ▼ to choose the tax category that fits your need.
  6. Fill in the Amount of the purchase.
  7. Click on Save and close or Save and new.

 

To reimburse the company:

 

  1. Click on + New.
  2. Choose Bank Deposit.
  3. Hit the Account to add the reimbursement to, and choose the Date.
  4. Go to the Add funds to this deposit section. From the Received From field, type in the person who made the personal expense, then choose the account. Tip: Add the person as a customer if they aren't in your books already. Even if they're not a customer, this is the best option.
  5. Choose the Payment Method and fill in the reimbursement amount.
  6. Click on Save and close or Save and new.

 

See the following articles for more information about owners or partners mixing business and personal funds:

 

 

Keep your post coming if you need more help with recording personal expenses in QBO. I'm always here to help. Have a great day!

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