How to log a transfer between an old credit card account to a new one.

fairwindsbis · ‎June 03, 2020

ReyJohn_D · ‎June 03, 2020

Thanks for posting a question here in the Community, @fairwindsbis.

You can use the Credit card credit option in QuickBooks Online (QBO) to transfer the amount between your old credit card account to the new one. Just select the new credit card account where to transfer the funds. Then, choose the old card at the line item where the amount is from. Here's how:

Click the +New icon then choose Credit card credit under the Vendors section.
Pick a Payee, then choose a credit card account under the Bank/Credit account drop-down ▼.
Enter the needed info under the Category details drop-down ▼. In your case, you'll have to select a credit card account under the Category column. Fill out the other needed info like the Description, Qty, Amount, etc.
Hit Save and Close once ready.

You'll also want to use the Transfer feature in QBO to move your funds from one account to another. This way, you can easily track it in your bank register. However, if you used a check to transfer the funds, use the Check feature so you can record a check number. Here's an awesome resource that will guide you with the steps: How to transfer funds in QBO?.

Fill me in if you have more questions. I'll be here to help you. Take care always.

View solution in original post

ReyJohn_D · ‎June 03, 2020

Thanks for posting a question here in the Community, @fairwindsbis.

You can use the Credit card credit option in QuickBooks Online (QBO) to transfer the amount between your old credit card account to the new one. Just select the new credit card account where to transfer the funds. Then, choose the old card at the line item where the amount is from. Here's how:

Click the +New icon then choose Credit card credit under the Vendors section.
Pick a Payee, then choose a credit card account under the Bank/Credit account drop-down ▼.
Enter the needed info under the Category details drop-down ▼. In your case, you'll have to select a credit card account under the Category column. Fill out the other needed info like the Description, Qty, Amount, etc.
Hit Save and Close once ready.

You'll also want to use the Transfer feature in QBO to move your funds from one account to another. This way, you can easily track it in your bank register. However, if you used a check to transfer the funds, use the Check feature so you can record a check number. Here's an awesome resource that will guide you with the steps: How to transfer funds in QBO?.

Fill me in if you have more questions. I'll be here to help you. Take care always.

fairwindsbis · ‎June 04, 2020

Thank you for the response. However, I already connected the old credit card account in Quickbooks to a new credit card account from my bank. When I when back and tried to create a new credit card account in Quickbooks, it stated that there are no other account to connect. Is there a way to revert back?

Sincerely,

Sang Park

JamesDuanT · ‎June 04, 2020

Hello fairwindsbis,

Based on your response, are you somehow referring to the Banking page? If so, yes, we can still go back to your old credit card account and connect it to QuickBooks.

Before that, we'll need to disconnect the recent one. You can follow the detailed steps in this article: Disconnect or delete an account connected to online banking.

After that, we can already reconnect the other account: Connect bank and credit card accounts to QuickBooks Online.

Once you've done it successfully, you can start managing your bank transactions.

Please let me know if you have additional queries so we can further assist you. Have a great day!

fairwindsbis · ‎June 05, 2020

I disconnected the old credit card account and add the new credit card account according to the instruction you sent. When I created the new credit card account I went back all the way to the beginning of the account which was Jan of this year. Now I have over 100 transactions popped up in the new account. I have a couple of questions regarding this.

1. If I match these transactions again, am I recording the same transaction twice?

2. The amount that was transferred from the old credit card matches the ending balance from the last statement. I can delete the new credit card account and add it again. This time I only go back to the date of the end of the last billing period. If I do this, I won't get all transactions from January till the last billing cycle. Are all transactions still stored in the old credit account? Can I still access these transactions if I need them for tax purpose next year?

Thank you.

Tori B · ‎June 05, 2020

Hey there, @fairwindsbis.

Thanks for following up with us.

I recommend contacting our technical support team. They have the tools available to remote into your computer and take a further look into things for you. This way, we can visually see everything and how you currently have it set up. I've included the steps below to contact support.

Sign in to your QuickBooks Online company.
Click Help (?) at the top right
Hit Contact Us to connect with a live support agent.

Let me know if you have additional questions or concerns. You can always reach out to the Community or me anytime you need a helping hand. Take care!

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How to log a transfer between an old credit card account to a new one.