Discrepancies between QuickBooks and a bank statement. I purchase ingredients and other supplies and services with the credit card. I'm always here if you have any follow-up questions or concerns. You might want to type Usury! Setting up credit card accounts in QuickBooks Online is often the most confusing process for organizations that have primary and secondary cards under one statement. For some businesses, this can be a huge benefit saving time and money by reducing manual entries. We've collected together the most popular articles for year end tasks Sales & The reason is that your merchant bank or credit card processor aggregates customer credit card charges and then — maybe on a daily basis or maybe every few days — deposits a big wad of cash in your bank account. Once you finish your initial company setup with Express Start, you can add credit card accounts to your chart of accounts. Before you can enter credit card charges, you need to make sure that there is an account for your credit card in your chart of accounts. Enter a number under 7xxx Enter account name. I don't remember what happened, but I think it rippled through the whole system and then everything was wrong instead of just my current balance. To check why your entries are downloading twice, I’d suggest reaching out directly to our QuickBooks Online Support and schedule a callback so they can investigate this issue with you with your most convenient time. Create A Credit Card Account. If you use a personal credit card ocassionaly for business purposes, you should NOT enter it into QuickBooks as business credit card. The entries are bank download entries. Click on Chart of Accounts from the Home Page. Some people use it for a while and then graduate to the next method. There are 4 different methods mentioned in the article, and I recommend checking out the banking downloads option since it's the most applicable to your situation. Review the original credit card charge: It will be very helpful to review the original expense entry as this credit entry should use the same categories and items for the portion of the expense refunded. All debit card transactions should be entered directly into the bank account’s check register, not via the Credit Card account type. In QuickBooks Desktop products click Company then Chart of Accounts. This is different than a debit card that is tied to a bank account. I'd like to understand how to correct, and then stop, the annoying double credit card entry charge that is taking my QBO balance deeper into the red every month. The type of the account will be Credit Card. False. I have here articles you can check about transfers in QBSE: If there's anything else you need, please add a comment below. A vendor might supply you with a credit document that indicates you no longer owe the amount stated on the document, or the vendor might issue a refund check to you. In QBO click the gear icon then Chart of Accounts. 5 Type the card number in the Credit Card Acct. To set up credit card accounts for cards your company uses for purchases, follow these five steps. If you’re not sure how to enter credit card payments or partial payments, don’t worry. While you’re at it, you can describe the card, too. The credit card account I'm referring to in this question is balanced in Quickbooks. In QuickBooks Online (QBO), you enter a vendor credit to record returns to vendors or refunds from vendors. Any help is appreciated. If you have any other questions or concerns, please don't hesitate and reach back out! The same transaction, then, by definition of "transfer" is From Checking and against the CC account. Here's a useful article posted by Intuit to guide users who are recording their credit card payments: https://community.intuit.com/articles/1145523. All Your instructions are really clear and helpful. However, it is a method that suits a lot of people just fine. However, not all credit card companies are alike. You can get our most updated contact number here: Reply back if you need more help with deleting duplicate transactions in QuickBooks Online. I appreciate you providing a screenshot. I appreciate all of the details you provided in your post, and would be happy to help you record those credit card transactions. This account type and the credit card account type are the only account types you can select as the payment account in the Pay Bills or Write Checks dialog box. The discussions I have read stating that this should be included in QuickBooks. Choose Lists→Chart of Accounts. Choose the uncleared duplicate transactions, then select the Delete button. 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