Most untrained users enter credit card payments to “Credit Card Expense” either using a vendor Bill or in the Banking transactions. Reconciling your bank accounts monthly in QuickBooks is a must, but did you know that you should reconcile your credit card accounts monthly too? Instead of showing one feed for the AMEX account, it keeps separate credit card feeds and separate credit card payable accounts for each card. http://QBUniversity.org - In this Quickbooks 2019 tutorial, I show you how to set-up and reconcile credit card sub-accounts. https://fitsmallbusiness.com/reconcile-business-credit-card-accounts Doing so will ensure that common errors, such as misposted or forgotten charges, are corrected in your company's file as the year progresses. How to Reconcile Bank and Credit Card Accounts in QuickBooks Online. This causes duplicate expenses and a mess in the credit card liability account. This video demonstrates how to create a credit card payment with a credit card that has sub-accounts. To reconcile your card card accounts, log in to Quickbooks and click the gear icon at the top of the screen, followed by “Reconcile” under the column titled “Tools.” From here, click the drop-down menu and select the credit card account that you want to reconcile, followed by “Reconcile Now” to … The best method for entering credit card payments in QuickBooks Online is to use Transfers. Here is a video showing how to reconcile bank and credit card statements in QuickBooks Online. Some might reconcile other current asset accounts and other liability accounts, even equity, but this article will focus on how to reconcile bank statements in QuickBooks Online . Typically, you’ll be reconciling your checking, savings, and credit card accounts. Unlike with many other credit cards, Quickbooks Online’s integration with American Express does something strange that can make bookkeeping a bit of a hassle. The process becomes more messy when partial payments are made on the credit card and you have multiple sub-card holders. ; Input the ending date of the statement you are reconciling, as well as the ending balance on the statement, and click Ok. Go to the Gear Icon at top right of screen (your company name), and click Reconcile under Tools. While you think that you are “reconciling” transactions, there is actually a formal process of reconciling transactions to a bank or credit card statement that is totally different. ; Select the account you are reconciling from the dropdown at Account and click Reconcile Now. QuickBooks has a Reconcile utility that can reconcile your company’s credit card account with the card’s paper statement. 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