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GolfNut72
New Member
July 10, 2020
Question

Business Credit Cards (Rollup) on Balance Sheet

  • July 10, 2020
  • 5 replies
  • 31 views

I am cleaning up a company's books and have a question on the appearance of a business credit card balances on the Balance Sheet -

 

It is a company card and it is set up with a Main Card and all of the employee assigned cards are subs of the main card.  -  When I print the Balance Sheet it is showing each individual card.  Can only the Main Card balance (which should be the total of the sub cards) be shown on the Balance Sheet?

 

Thanks

EJ

 

5 replies

JenoP
JenoPQuickBooks Team
QuickBooks Team
July 11, 2020

Good day, EJ.

 

If the sub-accounts has zero amounts, you can click on the drop-down list for Show non-zero or active only field and select Non-zero for both Show Rows and Columns. Then, click Run Report. 

 

However, sub-accounts with balances can't be removed in the Balance Sheet report. However, you can export the report to Excel where you can make more customization. Just click the Export button in the right-hand corner and select Export to Excel.

 

Let me also share these report-related quick guides for more details: 

 

Don't hesitate to add a reply or reach out to us again if you need anything else. 

GolfNut72Author
New Member
July 11, 2020

Thank you for the information.  Not what I was hoping for, but I can work with it.

 

But, this does lead me to a second question regarding a Main Company Card and additional cards that are tied to the main card.  I have each card setup in my bank feeds except the Main Company Card.  I also have a separate account tied to the Main Company Card, but no feed, where the payments are entered.  The results will show the correct balance for the Main Company Card, but it makes it appear that all of the additional cards have outstanding balances.  This does not appear to be a "best practices" approach.  Is there a better way, or is this something that QBO can't do yet?

 

Thank you

EJ

 

 

P.S. - Though a completely separate topic, why would you use Transfer vs Add for a credit card transaction (i.e. payment) in the Business Bank Account.  You can't split a Transfer.  EJ

MaryAnn_E
Level 4
July 11, 2020

Hello there, @GolfNut72.

 

It's my pleasure to provide insights regarding the bank connected to QuickBooks Online. 

 

There are some banks that either the sub-account or the main account can be connected. When paying the sub-accounts, you’ll have to create a Credit Card Credit to zero the outstanding balance.

 

Here's how to create a Credit card credit:

  1. Click + New on the left menu and then select Credit card credit.
  2. Enter the information needed in the form and hit Save and close.

 

For more details about managing your expenses in QuickBooks Online, here's your guide: How to Record Spending: Transactions, Bills & Payments.

 

We use the transfer feature in the business bank account, it’s how QuickBooks records the payment to sub-accounts for the balance to be reduced or zeroed.

 

Also, I'm adding these articles to learn more in handling your bank transactions:

 

If you have other concerns or questions, don't hesitate to reach out to us. We're always here to help.

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