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Join nowI've taken over helping reconciling a previously set up account. They have two credit cards/users on the same account. In Quickbooks it has them listed separately but they are included together on the monthly statements. How do I fix this so I can properly reconcile the monthly statements since they aren't connected in Quickbooks?
Great to have you here in the Community, @massey222. I’ll help you with reconciling your bank accounts in QuickBooks Online (QBO).
The first bank account must be set up as a parent account, while the second must be set up as a sub-account.
Although, for reconciliation purposes, we must add the bank account (parent) before setting up the credit card accounts as sub-accounts. Because all transactions from the sub-accounts are rolled up into one, you'll only need to reconcile the parent account.
Also, the transactions will remain intact since we’re only adding the parent account.
Here’s how you can add the parent account:
Next is to set up the credit card sub-account. I’ll show you how:
Moreover, you can check out this article about bank or credit card subaccount setup.
Furthermore, you can utilize this article to reconcile your account in QuickBooks Online.
Let me know if you need further assistance with banking transactions. The Community always has your back. Have a great day!
Is there any way to do this after the fact, after two credit cards have been listed as their own parent accounts? The 2nd card has been used for a year (before I took over cleaning up & helping categorize). So it won't let me change it now. Does this mean I'd have to remove the 2nd card, reconnect it to Quickbooks like a new account & then newly re-categorize everything?
Thanks for updating this thread, Massey.
I'm joining the thread to share some insights about this banking concern. If the two accounts are not yet connected to online banking, you have the option to merge them, so all transactions go into one account. This way, you can reconcile them properly.
The merging process is recommended if you have the following scenarios:
Once done, follow the steps below to merge the two registers. Don't worry, you will not lose any transactions during the merging process. All entries will go to the winning account (active). Follow the steps below:
Once merged, connect the correct parent account to online banking. These are the steps:
The system does not allow connecting both parent and sub-accounts for online banking. If all transactions download to only one account, connect only the parent account. To guide you further, check out this related link to learn about the connection in QBO: About bank or credit card subaccount setup.
We do not recommend merging if the account is still actively downloading transactions in QuickBooks. This is because online banking downloads data based on your bank info and credentials.
If you want to merge accounts that is still connected for online banking, you will need to disconnect the connection first. Then, add the new account information as a separate register in the Chart of Accounts and merge them afterwards.
I've outlined the steps for you below:
Next, add the new account information by going to the Accounting tab then Chart of Accounts. Tap the New button then add a new name for the updated credentials. Skip this step if you already have the account added.
I'll be right here if you need further help with our banking process. Message us anytime. Have a nice day!
I have a Chase Business credit card account that has two employee cards. They are both linked to my bank, and have separate registers. Can you please provide me with the steps to combine the two cards on to one register. The main account (Chase Credit Card) has 17 years of data and the (Credit Card) account has this 2022 year on it. I would like not to lose any data.
I’m here to guide you with merging your account in the Chart of Accounts (COA) in QuickBooks Online (QBO), @Rhusch.
To combine the transactions into one register in COA, you’ll need to merge them or set a parent account and add the two employee cards as sub-accounts. Since you mentioned that the credit cards have already been connected to your company file with a separate register, you will have to disconnect the two employee cards first and set their registers as sub-account.
Take note that before disconnecting your online banking, please ensure that all transactions have been categorized. Otherwise, all uncategorized transactions will be deleted.
Afterward, use your Chase Business Credit Card account as the parent account. Then, add the two employee cards as a sub-account. To do so, you can follow the steps below:
Once sorted out, reconnect your bank to keep receiving your latest bank transactions. Then, learn to categorize and match this to the correct category and reconcile after.
Feel free to comment below if you have more questions regarding this or any QuickBooks concerns. I'll be here to help. Have a good one.
RoseJillB, I have this set up already and have been using parent accounts like how you explained it. Throughout the years employees have had company credit cards and some have either lost the credit card and we opened a new one or have canceled cards for employees who are no longer with us. However, their cards are still "active" in QB and I would like to make them inactive so that they do not show up on reports, etc.
However, they look like they have balances since reconciling is done in the parent card register and the card as a whole is paid off monthly in the parent, not each individual card. Therefore, I can't make the card inactive since it does not have a zero balance (even though it does).
What is the best way to zero the cancelled cards, either create a journal entry or something else?
RoseJillB, I have this set up already and have been using parent accounts like how you explained it. Throughout the years employees have had company credit cards and some have either lost the credit card and we opened a new one or have canceled cards for employees who are no longer with us. However, their cards are still "active" in QB and I would like to make them inactive so that they do not show up on reports, etc.
However, they look like they have balances since reconciling is done in the parent card register and the card as a whole is paid off monthly in the parent, not each individual card. Therefore, I can't make the card inactive since it does not have a zero balance (even though it does).
What is the best way to zero the cancelled cards, either create a journal entry or something else?
Thanks for getting involved with this thread, CR92323.
To properly identify how you should go about zeroing out cancelled credit cards, I'd recommend working with an accounting professional. If you're in need of one, there's an awesome tool on our website called Find a ProAdvisor. All ProAdvisors listed there are QuickBooks-certified and able to provide helpful insights for driving your business's success.
Here's how it works:
Once you've found an accountant, they can be contacted through their Send a message form:
You'll also be able to find many detailed resources about using QuickBooks in our help article archives.
If there's any additional questions, I'm just a post away. Have a great day!
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