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Active Member

I have multiple credit cards set up under a parent account. I reconcile the parent account. How do I get rid of the sub account balances?

 
4 Comments
Established Community Backer ***

Re: I have multiple credit cards set up under a parent account. I reconcile the parent account. How do I get rid of the sub account balances?

Hello,

 

How do the balances on each card get paid down in real life?  Do you make separate payment on each card? Do you make 1 big payment and the CC company divides that payment equally to lower the balance on each card?

 

If you have it setup for each card to download on the bank feed screen, QBO should be downloading charges as well as any payments applied to the balances on the cards.

Experienced Member

Re: I have multiple credit cards set up under a parent account. I reconcile the parent account. How do I get rid of the sub account balances?

Accidentally posted twice. So sorry

Experienced Member

Re: I have multiple credit cards set up under a parent account. I reconcile the parent account. How do I get rid of the sub account balances?

What is the answer to this question? I have the same problem. When I reconcile the parent account the sub accounts do not clear. I want to pay with one check only. I tried reconciling each sub account individually but QB prompted to either pay or enter a bill. Again, I only want to pay with one check. 

Any help will be greatly appreciated.

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QuickBooks Team

Re: I have multiple credit cards set up under a parent account. I reconcile the parent account. H...

Hello cdjh,

 

Welcome to the Community. I'm here to assist you regarding your concern about the sub-account balances in QuickBooks Online.

 

When the time comes that you need to reconcile, you only need to do it on the parent account since transactions from the subaccounts roll up into it. Since statements are only available on parent accounts, the reconciliation should not be on the Child account.

 

For more insights, I'm adding the article on this (scroll down to Reconcile the account):

 

About bank or credit card subaccount setup.

 

Please also note that if you're using Sublevels and you use the Primary account to reconcile, don't make entries here. This account's register serves as an Umbrella of all activities.

 

Bottom line here is you reconcile the Parent level and Split the payment to the Sub-categories so that each sub-balance gets its payment amount applied there.

 

As always, the Community is here if you have any questions with reconciling accounts. I'm always here to help.