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Community Contributor *

Account Type Changes

When I manually enter charges in the AmEx credit card register they are shown as "CC Expense" Type not as just "Expense" Type, is this correct?  The bank feed is coming thru correct as "Expense" Type.  I am having to manually enter a few months as the bank feeds did not connect and there are only a few charge transactions.

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Best answer 12-24-2018

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Established Community Backer ***

Re: Account Type Changes

What you are asking about is Transaction Type.

 

Spending from Credit Card = Credit Card Charge Expense and Spending from Checking = Checking Expense.

 

If you posted it from the right Card, or bank, and for the right details of what you bought, there is nothing else to change.

 

CCExp = paid by using my credit card, when I bought this.

"Expense" = paid from banking, when I enter that I spent this.

QuickBooks Team

Re: Account Type Changes

Hi there, @EllenR.

 

Thank for your input in this post. I can share some more insights about expense transactions under Credit Card account.

 

I agree with qbteachmt. Though the transactions under your credit card account are reported as vendor expenses and will appear on the Expenses by Vendor Summary and Transaction List by Vendor reports, they will not post on the 1099 forms.

 

You can check these articles for more details:

That's it. Keep me posted if you have additional questions. I'd be happy to answer them for you. Wishing you and your business continued success.

 

 

5 Comments
Community Contributor *

Re: Account Type Changes

I found my error - I choose CC Exp as the type instead of just Expense, do I need to delete all of my entries as CC Exp - what will it affect?

Established Community Backer ***

Re: Account Type Changes

What you are asking about is Transaction Type.

 

Spending from Credit Card = Credit Card Charge Expense and Spending from Checking = Checking Expense.

 

If you posted it from the right Card, or bank, and for the right details of what you bought, there is nothing else to change.

 

CCExp = paid by using my credit card, when I bought this.

"Expense" = paid from banking, when I enter that I spent this.

Community Contributor *

Re: Account Type Changes

Thank You, I researched and read that CC Expense was what the credit card charges the customer which didn't seem exactly correct.  So my bank credit card feeds are just coming thru as Expense and not CC Expense - so this will not cause an issue with vendors, reports etc?

QuickBooks Team

Re: Account Type Changes

Hi there, @EllenR.

 

Thank for your input in this post. I can share some more insights about expense transactions under Credit Card account.

 

I agree with qbteachmt. Though the transactions under your credit card account are reported as vendor expenses and will appear on the Expenses by Vendor Summary and Transaction List by Vendor reports, they will not post on the 1099 forms.

 

You can check these articles for more details:

That's it. Keep me posted if you have additional questions. I'd be happy to answer them for you. Wishing you and your business continued success.

 

 

Established Community Backer ***

Re: Account Type Changes

For this function, you are already connecting and getting the transactions from the account that was the source of the spending: "So my bank credit card feeds are just coming thru as Expense and not CC Expense"

 

As long as the Source account is right, and the spending details are right, then what you are asking is "transaction type" and not Expense Details. Intuit uses strange designations in QB Online.

 

Expense = something I spent for that is on the P&L. But for QB O, "Expense" = some sort of transaction type that reflects the expenditure, even if that is paying off debt (balance sheet account activities). And "Transfer" = between two or more balance sheet accounts, even if you put that on a check, and on a check = "expense" for the transaction type, but not hitting an Expense account as the type of activity.

 

It's very confusing.