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Credit Card Leftover Balance

I setup a credit card in QB for all business purchases and have been maintaining this account for the past 5 years. I recently paid off the outstanding balance, however while my bank says the card is completely paid off,  there remains a balance in QB of $248.88 for the CC account. I have done reconciliation in the past on this account in QB however have fallen behind. I would rather not go back and do reconciliation for the past 5 years in QB, therefore I'm looking for guidance on how to "clear out"/make a journal entry to take care of the $248.88 remaining balance in QB.

Solved
Best answer 07-18-2019

Accepted Solutions
QuickBooks Team

Re: Credit Card Leftover Balance

Hello there, @zadawa.

 

I'm here to help you today so you'll be able to clear out your credit card leftover balance in QuickBooks Desktop (QBDT).

 

First, you may need to trace where the remaining balance came from. You can open or double-check the amount on your register.

 

  1. Click on Banking at the top menu bar.
  2. Select Use Register.
  3. Select your account.
  4. Click OK.

Once completed, you may now create a journal entry for the balance. Also, it's highly recommended to consult with a professional accountant to help clear out or handle the amount accordingly.

 

To create a journal entry:

 

  1. Click on Company.
  2. Select Make General Journal Entries.
  3. Fill in the necessary information.
  4. Click Save and close.

In case you have any other QuickBooks concerns in the future, you can check our help-articles: Help articles for QuickBooks Desktop.

 

Let me know directly if you have any other banking questions. I'm always here to help.

View solution in original post

1 Comment
QuickBooks Team

Re: Credit Card Leftover Balance

Hello there, @zadawa.

 

I'm here to help you today so you'll be able to clear out your credit card leftover balance in QuickBooks Desktop (QBDT).

 

First, you may need to trace where the remaining balance came from. You can open or double-check the amount on your register.

 

  1. Click on Banking at the top menu bar.
  2. Select Use Register.
  3. Select your account.
  4. Click OK.

Once completed, you may now create a journal entry for the balance. Also, it's highly recommended to consult with a professional accountant to help clear out or handle the amount accordingly.

 

To create a journal entry:

 

  1. Click on Company.
  2. Select Make General Journal Entries.
  3. Fill in the necessary information.
  4. Click Save and close.

In case you have any other QuickBooks concerns in the future, you can check our help-articles: Help articles for QuickBooks Desktop.

 

Let me know directly if you have any other banking questions. I'm always here to help.

View solution in original post

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