Hi. My client has linked the business credit card to QuickBooks which is made up of several cards for each employee. I have added the payments showing on the credit card feed to QB i.e. materials, fuel etc.
Now the payment to pay off the credit card is showing in the business bank account feed but I am unsure as to what to do with this. It says Transfer at the side. I'm unsure whether to add it as an expense with no VAT (as the items have already been added) or if I transfer it what do I transfer it to as the payment relates to the total of all the credit cards.
Once I added the transactions from the credit card feed into QB do they automatically get included in the VAT figures for that quarter? Obviously I wouldn't want to duplicate things. I'm very confused!!