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Anonymous
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Convert vendor to credit card account

I have been using QB Pro Desktop for over 10 years and my credit card was originally set up as simply a vendor. I would like to be able to import my CC statement directly into QB, but this on works with accounts. Is it possible to convert a vendor to a credit card account?

Solved
Best answer 12-20-2018

Best Answers
Anonymous
Not applicable

Re: Convert vendor to credit card account

No, not possible, but you can set up a credit card account and start using it in any case.  There's no problem doing that.

View solution in original post

4 Comments
Anonymous
Not applicable

Re: Convert vendor to credit card account

No, not possible, but you can set up a credit card account and start using it in any case.  There's no problem doing that.

View solution in original post

Anonymous
Not applicable

Re: Convert vendor to credit card account

Thanks, BRC, I figured that that was going to be the case.

 

If I am carrying a balance on that card, would I set that amount as an opening balance and then input an adjustment on the vendor account to zero the balance there?

QuickBooks Team

Re: Convert vendor to credit card account

Hello, @Anonymous.

 

Thanks for getting back out to us. Allow me to share additional information about converting vendor to credit card account in QuickBooks Desktop.

 

Yes, you can enter the amount as an opening balance and manually enter the vendors' transaction to zero it out.

 

Here's how: 

  1. From the Company menu, click Chart of Accounts.
  2. In the Chart of Accounts window, right-click anywhere and select New.
  3. Choose Bank or Credit Card for the Account Type.
  4. In the Add New Account screen, fill out all required fields.
  5. Click the Enter Opening Balance button.
  6. Enter the Ending Balance and Ending Date from the last bank or credit card statement you received before your QuickBooks Start Date.
  7. Click Ok.
  8. Click Save & Close.

For more details about this process, please check out this article: Record opening balance.

 

That should do it! Please don't hesitate to reach back out to us if you have any other question about this concern. We're always here to help. Have a great day!

Anonymous
Not applicable

Re: Convert vendor to credit card account

Thank you, BettyJaneB! I appreciate the information.

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