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Experienced Member

automatic bank payment for credit card statement bill

We import all bank and credit card activities to QB directly so we can easily tag each transaction.

 

So when we import this data, the bank shows all payments that were made for each credit card statement bill. 

 

And the credit card data shows all charges made for each credit card statement bill - plus it shows the automatic monthly payment made from the bank.

 

Within the credit card data imports, I tag each credit card transaction (as it breaks down each charge).  This data also shows that an automatic payment was made from the bank for that billing statement - what do I do to tag that specific transaction?  

 

And what I am supposed to do in the bank activity data for the transaction that showed that the bank made an automatic payment (expense) for that credit card statement bill?

 

Thank you in advance.

1 Comment
QuickBooks Team

Re: automatic bank payment for credit card statement bill

Good day, bhtproperty.

 

Thanks for connecting with us in the Community. I'm here to address your concern with categorizing bank transactions.

 

QuickBooks Online (QBO) helps you categorize your imported transactions. Once categorized, you have the option to match them to transactions you've already entered into QBO.

 

Let me show you how:

  1. Go to Banking.
  2. Click on For Review.
  3. Select the checkbox for each transaction to assign a payee, category, class, or location and click on Add.
  4. You can also categorize multiple transactions by clicking the checkboxes. Then, click on Batch actions drop-down menu and select Modify Selected.
  5. In the Modify Selected window, categorize the selected transactions from there.
  6. Click on Apply.

I've attached some screenshots, so you'll know what I'm referring to.

 

B1.PNG

 

B2.PNG

 

B3.PNG

For more in-depth information about categorizing bank transactions, you can check out this article: Assign, categorize, edit, and add your downloaded banking transactions.

 

That should do it. This information will address your concern. Keep me posted if you need further assistance. I'm always glad to help.