Welcome to the QuickBooks Community and thanks for choosing QuickBooks Online to continue your accounting for your business! I'm excited to have you with us. Your question here has a few layers to work through, but don't worry, I'll gladly go over these with you.
I'll start with recording expenses paid by credit card. When you're recording expenses using the Expenses or Pay bills feature, the program includes a Payment method drop down. This means it's just a simple selection of the payment method you used, such as a credit card, to indicate for your reporting what you in fact did use. You can even add more payment method options if you'd like by either clicking +New in the Payment method drop-down or by following these steps.
There, you can add, edit, or delete payment methods as you'd like. It's a great way to keep things organized and then you can add payment method columns to some reports later to see this data. So you have it, here's our article about customizing reports: Customize reports in QuickBooks Online
Next, I'll go over the files you had in Sage. If you used the Dataswitcher tool to convert your Sage 50 data to QuickBooks Online, you would have had the option to choose how much data is brought over in the conversion process, including reconciled transactions. This article explains how that process works: Converting Sage 50 data to QuickBooks Online
If you were using a different version of Sage and are manually entering your transactions or are bringing them in via some other method, there are a few things to consider. For instance, if you're using another service to convert your Sage information, you'll want to connect with the support team for that service to find out how it works and what data is brought over.
If you're manually entering all of your transactions, there are a few import and upload options you can consider to speed up the process, although it would still mean going in and reconciling them later. Here are some articles that can help.
To have a more in-depth conversation about these options to make sure you get the answers you need for your situation and business, I recommend contacting QuickBooks Online support outside of the QuickBooks Community. This will give our team the opportunity to have a one-on-one conversation with you and consider your situation to guide you through getting set up. Here are the contact options.
Schedule a Callback or start a Chat: click (?)Help in the upper right > type and enter "Contact support" into the QB Assistant > click Contact Us > explain your situation > click Let's Talk > choose Get a callback or Start a Chat. Support is available from Monday to Friday between 9 a.m. and 8 p.m. ET.
Reach out at our convenience. We'll be here for you. :)
Hi mallainjohn. I'll be happy to help you here. QuickBooks is designed to help make your work easier and it's vital you're able to enjoy this benefit among other amazing benefits offered in QuickBooks. I'd like to make sure I'm on the same page as you, could you elaborate more on where you're getting stuck? Feel free to send screenshots for visual reference, I'll be on standby.
Thank you, I truly appreciate your willingness to assist.
I was reconciling my year end Dec 2020 and noted an entry recorded "Uncategorized Assets" in the amount of $481.98. All the entries within this account were payments to On line banking to credit the Visa/credit card account.
I proceeded to make corrections on each entry and had them "Transfer to the Visa card" unfortunately that threw out the current balance on QB for the Visa account. (I did check before the balances in QB and Bank were identical). I have no idea how to correct this now or fix up what i seem to have done. The current balance on QB Visa account is out by a different amount and not the entries i adjusted.
there is also a second line on the trial balance statement titled" RBC Credit Card for the amount of $1215.22 , this also shows Visa payments.
I am clearly not recording the Visa payments correctly.
So I would like to 1) help me fix up what I did wrong 2) show me how to record visa payments.
I appreciate you elaborating further on this. Reconciling accounts can be a tricky process but don't worry, I'll be happy to steer you on the right path. I'd recommend contacting an accounting professional so they can provide expert advice on how to fix what you've already entered. If you're not in contact with a professional, don't worry, you can search for one using this link here. Otherwise, I encourage you to check out this powerful article with info on how to: Record your payments to credit cards. You're more than welcome to reach out to our support team so they can take a closer look at your account with you. Here are the contact details:
Feel free to ask other questions. I'm here to help.
this is so disappointing James. I spent so much time on the phone today and the person was not even able to connect to my screen.
i have not had any support with quick books in the past and to pass me on like you just did ,
i guess i will have to find a program with a better support system
Thanks for all the time you've put into this already. I wouldn't want to see you go due the experience you described. Our goal is to get you the best guidance possible.
Because of what you've described, it'd be good to get into contact with the support team as they will be able to see your books and give you a personalized approach on how to get that balance corrected. There can be various causes of the difference in totals of your credit card and having someone there in real time to assist you is vital to getting this resolved.
As previously mentioned in the thread, another option would be reaching out to your accountant. Their accounting knowledge can provide you with the best options to correcting the transactions and to make that balance right.
A far as entering the credit card payments made from your bank, a few methods of adding those transactions to QuickBooks Online are outlined in the article about how to Record your payments to credit cards. Entering those payments in one of these ways will make sure that the money is moved from your bank account to offset the balance owed on your credit card in a single transaction.
I hope this helps you get to the bottom of this to get your books back in order.