HAS THIS BEEN SOLVED????????

Your detailed description is greatly helpful, @rajivsab. I understand that my colleagues may have mentioned this earlier in this thread: In QuickBooks Online (QBO), you can connect either the parent account or the sub-accounts, but not both simultaneously. This applies to all banks connected to online banking in QBO, including Chase Bank.  I can see that facing the same issues repeatedly can disrupt the management of your financials within the software. Let’s work through this together and resolve the issue.

When you connect the parent account, QBO consolidates all the transactions from its sub-accounts into a single overview. Conversely, linking each sub-account individually allows for detailed tracking and management of transactions specific to each sub-account, with the totals still rolling under the parent account in your financial reports.

Chase Bank typically provides individual statements for each sub-account rather than a single consolidated statement for the parent account. However, this is something you would have to confirm with your financial institution so you would know which one to link.

After confirming that you only need to connect the parent account, you can disconnect the sub-account first. Just a heads up, when you disconnect, you’ll no longer see transactions that still need to be categorized in the For review tab. I recommend categorizing or matching transactions before following these steps:

1. Go to Transactions, then Bank transactions.
2. Pick the tile for the bank account.
3. Click on the pencil icon, then select Edit account info.
4. Select the Disconnect this account on save checkbox.
5. Note: If QuickBooks is downloading new transactions, you won't see this option. Wait a few minutes for the update to finish, and, try again.
6. Select Save and Close.
   

    

Next, proceed with connecting the account. For detailed steps, refer to this article: Connect bank and credit card accounts to QuickBooks Online.

Regarding handling historical transactions, QBO can only go far back 90 days from the current date of the connection. This is often determined by the bank and their policies on data sharing through their connection interfaces.

For transactions older than the 90-day limit, you will need to download and import them. Here are the steps:

1. Log in to your Chase online account.
2. Download the transactions in a CSV, QFX, QBO, OFX, or TXT format.
3. In your QBO account, go to the Gear icon. Then, select Import data.
    
4. From the What do you want to import? drop-down list, choose Bank data.
   
5. Drag and drop the file downloaded from Chase Bank. Then, hit Continue.
   
6. Select the Chase Bank from the list to indicate which account these transactions are from.
7. Follow the on-screen instructions.

When this is resolved, run financial reports to ensure bank transactions are correctly categorized: Run a report in QuickBooks Online.

Having your transactions properly connected is essential, and I hope this solution will help you manage your finances more easily in the future. If you have further questions or clarifications, feel free to click on the Reply button. We're committed to offering ongoing support.

I have found this super helpful video on youtube that talks about Credit cards and sub-accounts. https://www.youtube.com/watch?v=KGDCA6TWQHs. This does mention adding in a *Payment sub account that is likely the fix to the problems that people have been having to reconcile accounts. Worth a watch. 

Check this video: https://www.youtube.com/watch?v=KGDCA6TWQHs

It talks about credit cards and sub-accounts. The one thing mentioned on this video that has not been mentioned at all through the entire thread is when having a "Parent" account and CC - "Sub" accounts is also adding in a *Payment account. That should also drop into the parent account to reconcile and then add a journal entry or expense entry to the payment account to offset the sub accounts to make it look like everything is clean.

I have to give credit to this video right here https://youtu.be/U1iyaR4-_wA?si=AqJKmJf0T3z_C7Sq

I have been dealing with the chase bank issue that the original author of the thread has been dealing with. But only for the last two months. I will list below how my cards are setup.

Chase Credit Cards (just an unlinked account accountant created)

     SA1 - The main corporate card in my name (linked online)

     SA2 - My one employee credit card (linked online, technically a sub card of SA1)

As the original thread author said with how his works. All debit transactions will download and you then categorize them for each card. And you can also reconcile them as well. The moment you categorize the debit transactions on SA2 it shows a QBO balance matching those transactions. But the bank balance says $0.00. Because the debit actually goes over to SA1 in reality. For chase bank SA2 never holds a bank balance. It always goes up to SA1. And you're only allowed to make payments to SA1 because SA2 does not hold a bank balance. And as the original thread author said, your QBO balance for SA2 never changes and ultimately your SA1 QBO balance becomes negative What ever the balance of SA2 was.

The fix is so simple, again credit goes to the woman in the video. After you reconcile your card balances for the month and you want to correctly record your payments do this.

Go to Credit Card Register

   - From the drop down menu select an employee CC

   - In the upper left where you see add transfer drop down menu

   - Put the amount under the payment section

   - Select the main corporate card to transfer it to

   - QBO online balance now matches the bank balance for both SA1 & SA2.

   - Now your payment to your main Chase CC (SA1) matches the balance of the card both in banking and QBO

Also she states with this method you do not need to make these cards sub accounts if you don't want to. My accountant already set mine up that way so I left them. 

I really hope this helps everyone. It was such a huge stress relief for me.

   - Employee credit card QBO balance goes to $0.00

After categorizing and reconciling all your transactions for all company CC's. Transfer the balance as a payment to your sub cards over to the main Chase Credit card. All your QBO balances will now match the $0.00 bank balances for the sub cards. The bank balance and the QBO balance on the main Chase CC that all the actual debits go to will now match. And when you make your CC payment which can only be made to the main Chase CC it will work out. Thank the woman in the video below. Also with this method you don't need to make any sub cards. Just link them all like you would any credit card. And Transfer the balances to the main CC when your done reconciling.

https://youtu.be/U1iyaR4-_wA?si=AqJKmJf0T3z_C7Sq