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lyndsey2
Level 1

Credit card is setup as main account with a year of transactions reconciled. It's not accounting for employee credit card. How can I fix to add subaccounts at this point?

QBO accountant setup my main business credit card and linked my card to it. Then reconciled a years worth of transactions and what appears to be "manually" ? adding the infrequent employee CC transactions that show up on the monthly statement. There has to be an easier way? Is it possible to setup a main CC account with sub accounts.. employee 1 CC, employee 2 CC, and then reconcile the main account monthly? How do I fix this at this point? I can't add a subaccount for the employee CC underneath the main CC account because the error message says the main account already has a CC linked to it?
6 Comments
ChristieAnn
QuickBooks Team

Credit card is setup as main account with a year of transactions reconciled. It's not accounting for employee credit card. How can I fix to add subaccounts at this point?

Hi there, lyndsey2.

 

Thank you for posting here in QuickBooks Community. I'll share information about connecting an account with sub-accounts.

 

Before connecting to Online Banking, you'll need to understand how your bank sends the downloaded transactions. If the transactions download to one account, connect the parent account. If the transactions download to the individual accounts, you can connect the subaccounts and not the parent account.

 

The error you received appears once the account is connected to the main Credit Card account. And, please note that you're unable to connect both a parent account and its subaccounts.

 

I suggest disconnecting the parent account so you're able to set up your main credit card account with multiple subaccounts. This way, you can easily connect it to your bank and reconcile downloaded transactions in QuickBooks Online.

 

Here's how to disconnect:

 

  1. Click the Banking menu.
  2. Select the blue tile for your bank account.
  3. Select the pencil icon to edit the account. Then, choose Edit account info.
  4. Select the Disconnect this account on save checkbox.
  5. Hit Save and close.

 

For additional information, you can click this article: Disconnect or delete an account connected to online banking.

 

After that, you can now set up your main credit card account with multiple subaccounts. Please refer to this article to see more info and steps: About bank or credit card subaccount setup.

 

Please check this article on how you can urn an existing account into a subaccount: Create subaccounts in your chart of accounts in QuickBooks Online.

 

Let me know if you have other questions related to QuickBooks. I'm always here to help.

lyndsey2
Level 1

Credit card is setup as main account with a year of transactions reconciled. It's not accounting for employee credit card. How can I fix to add subaccounts at this point?

I understand the error is due to the credit card being paired already with the main account. However, that is how the QBO Accountant set this up. My question is, if I disconnect the CC from the main account (and re-add it later as a sub account) what happens to the year of credit card transactions that have all been reconciled?

lyndsey2
Level 1

Credit card is setup as main account with a year of transactions reconciled. It's not accounting for employee credit card. How can I fix to add subaccounts at this point?

The credit card transactions appear all in one account on my credit card transactions/statements but they do NOT show in QBO.

 

For example, when I am on Chase.com and I click "Business Card (1234)" it shows ALL transactions for both cards.

 

Chase Main CC Account (1234)

- Employee 1 Card (1234) - Primary Cardholder

- Employee 2 Card (5678)

 

When I click on Employee 1 Card (1234) I see only transactions for this card via Chase.com When I click on Employee 2 Card (5678) I see only transactions for this card via Chase.com. When I click "Business Card (1234)" I see ALL transactions.

 

It appears how QBO is linking they are only pulling in the Primary Card (1234) transactions and not the employee card.However, the monthly statement, has both credit card transactions on one statement. I have to reconcile the account together vs. reconciling each card individually monthly.

 

It sounds like the solution is to delete the link for Employee 1 Card (1234) and add as a sub account and add Employee 2 Card (5678) as a sub account. Questions..

 

1) What happens to the year of reconciled transactions for this account? Do they all disappear when I delete the card and re-add it as a sub account?

2) How do I reconcile monthly the two accounts from one statement? Do I reconcile the main "roll up" and not individual credit cards?

Nick_M
QuickBooks Team

Credit card is setup as main account with a year of transactions reconciled. It's not accounting for employee credit card. How can I fix to add subaccounts at this point?

Hi there, lyndsey2. 

 

Thanks for stopping by the Community, I'm happy to provide some feedback for you, you actually have two options when it comes to removing your employee card, disconnecting or deleting. Both have different affects.

 

Disconnecting accounts:


If you disconnect an account from online banking, it stays active. QuickBooks just stops downloading new transactions. You can reconnect it, later on, to start downloading transactions again.

When you disconnect, QuickBooks deletes any transactions that still need to be reviewed in the For Review tab. If they're older than 90 days, you won't be able to download them into QuickBooks again.

 

Deleting accounts:


Deleting an account from your chart of accounts is permanent. You won't see it on menus and lists anymore. While you hold on to your old data on financial reports, it's very hard to get that data back into the account if you decide to use it again.

If transactions in the deleted account appeared in other accounts in QuickBooks Online, they will remain in those accounts. For example, if you delete a credit card account but you made payments to that card from your checking account, the payments will stay in the checking account.

If you're not sure which is right for you, reach out to your accountant.

 

To disconnect the account, follow these steps:

  1. Go to the Banking menu or Transactions menu.
  2. Select the blue tile for your bank account.
  3. Select the pencil ✎ icon to edit the account, then select Edit account info.
  4. Select the Disconnect this account on save checkbox.
  5. Select Save and close.

If the connected account is in the middle of an update, you won't see the disconnect option. Wait a few minutes for the update to finish before trying to disconnect. 

 

If you want to delete the account, make sure you review how to delete an account and make it inactive on your chart of accounts. 

 

As far as the how to correctly complete the reconciliation, I'm including a helpful article on the reconciliation workflow that will be able to successfully guide you on the reconciliation process. 

 

If you have any other questions or concerns, feel free to post down below at any time, thank you and have a nice afternoon. 

 

lyndsey2
Level 1

Credit card is setup as main account with a year of transactions reconciled. It's not accounting for employee credit card. How can I fix to add subaccounts at this point?

This does not answer my questions.. nor solve the problem. I do not want to DELETE or DEACTIVATE my credit card account. I want to be able to see all of the credit card transactions for both myself and my employee credit cards. Currently, the way the QBO Accountant, who I am no longer working with, set it up.. I am only showing transactions for my credit card and not the employee CC. I cannot add the employee credit card as a subaccount under my current CC. What is the solution to show all transactions for both credit cards without losing a years worth of data for my credit card, but at the same time, fixing the issue that the employee credit card transactions are not pulling into QBO.

 

As a reminder, both CC transactions show on ONE statement so they need to be reconciled together under one chart of accounts and not as two separate credit cards with separate statements.

ChristieAnn
QuickBooks Team

Credit card is setup as main account with a year of transactions reconciled. It's not accounting for employee credit card. How can I fix to add subaccounts at this point?

Hi there, lyndsey2.

 

Thank you for coming back and for providing additional information to your concern.

 

As mentioned above, when you disconnect, QuickBooks deletes any transactions that still need to be reviewed in the For Review tab. That being said, all the transactions that have been reconciled will not be deleted or disappeared after you disconnected the CC from the main account.

 

In QuickBooks, all the transactions under the sub-accounts will flow on the parent account. That said, you'll only need to reconcile the parent account because all transactions in the subaccounts roll up into it. For additional information, you can click this article: About bank or credit card subaccount setup.

 

It could be your financial institution won't allow you to connect sub-accounts to your main account. That's why you're unable to add the employee credit card. To verify this, I recommend contacting your bank so you'll be able to confirm the set up of your account.

 

The steps and information above are the solutions to show all transactions for both credit cards without losing data for your main account.

 

Please check this article to see steps on how you can merge two accounts in QuickBooks: How to merge accounts, customers, and vendors.

 

Please feel free to leave a message if you need further assistance. I'll be happy to help. Have a fantastic day!

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