Credit card issue which some of the sub accounts are in credit

We're glad to have you here in the Community forum, Jackie. I've got details to help you when dealing with credit card reconciliations, especially when there's a credit balance involved in QuickBooks Online (QBO).

When reconciling your parent credit card account (Natwest) account, you won't be able to directly match this credit transfer with the overall payment to Natwest. It is because QuickBooks doesn't allow matching credits against debits in the reconciliation process.

I recommend ensuring that the transfer from the credit card with the credit balance to the main Natwest account is recorded correctly. You may consider recording it as a Bank Deposit into that credit card account.

Here’s how to do it:

1. Click the + New button and select Bank Deposit.
2. From the Account dropdown at the top, choose the credit card account.
3. In the Add funds to this deposit section, enter all the necessary details.
4. In the Memo field, add a note indicating specific details about this transaction.
5. Save the deposit.

Moreover, it's always a good idea to consult with your accountant or a QuickBooks ProAdvisor for complex accounting situations to ensure everything is recorded correctly for your specific circumstances.

Additionally, navigate through this article to learn more about setting up credit card accounts and subaccounts QBO: Bank or credit card subaccount setup.

When everything is in order, you're all set to reconcile your account: Learn more about this process through these resources:

• Learn the reconcile workflow in QuickBooks
• Reconcile your account in QBO

I’m eager to hear how it goes for you. Please feel free to reply below with any updates or questions you may have about balancing your credit card accounts in QuickBooks. I'm here to support you and ensure you have all the assistance you need. Wishing you a fantastic day ahead. Goodbye!

I have cancelled the credit transfers which allowed me to reconcile the sub accounts correctly and I have followed the process you suggested but the only option I have in the account dropdown in the deposit screen is our Natwest current account and a petty cash account that we don't use. How do I make the credit card available here as an option to chose?

Also you make it sound like the credit balance on the sub account is just one refund when it's actually the balance of a payment taken and a credit note repaid, that just happens to end in a credit balance so I'm not sure what you have suggested with work. Please advise, I have to say this does sound incredibly long winded.

I appreciate your efforts in providing more details about the credit balance, clarifying that it is a combination of a payment received and a credit note issued, Jackie. I understand that reconciling an account with ease is essential in your QuickBooks Online (QBO) account. I will clarify your confusion and ensure you receive the best assistance for your concern.

Please note that in the Bank Deposit window, the options available in the account dropdown are limited to bank accounts only, which is why you don't see any credit card accounts listed there.

I attempted to replicate your scenario based on your initial post, and I found that we reached the same outcome, I'm also unable to select the credit. I'll share the screenshot below.

Since this issue happened, I recommend contacting our Live Support team for further assistance. Our phone support team is well-equipped to handle these situations and can conduct a screen-sharing session with you to investigate the matter in real-time.

Here's how:

1. Go to Help and choose the Search tab.
   
   
   
   
2. In the search field, enter the keywords related to your concern.
3. Click the Contact Us button at the lower part.
   
   
   
   
4. Please choose between the methods to connect with our support.
5. Please follow the on-screen instructions according to your selection.

Once you have successfully resolved the issue with the assistance of our live support team, you can close your books to prevent any unwanted changes before filing your VAT. This process locks your accounts, ensuring that no one can edit your accounting data before the closing date.

Please let us know if you require any further assistance with processing your reconciliations in QBO. Our Community team is always available and eager to help you navigate any challenges you may encounter.