Credit card payment matching with checking account

You'll need to record the credit card payment by transferring the record, komatthew. This way. it'll pay your credit card liability and show the accurate balance in your balance sheet.

To do this, you can use the pay down credit card option or record it as a transfer. Here's how:

1. In the left menu, choose Expenses and go to the Expenses tab.
2. Choose the account you need to transfer the payment from.
3. Select the transaction, then choose the Pay down credit card or Record as transfer radio button.
4. Choose the Transfer account ▼ dropdown menu and select the account you want to send the transaction to.
5. Click Confirm.

Once you have completed the transfer, you'll have to match it to the new account by following these steps:

1. In the left menu, choose Bank transactions and go to the  Bank transactions tab.
2. Select the account you want to review.
3. Go to the For review tab.
4. Locate the credit card payment transaction and review the suggested match.
5. Select Match once confirmed.

For more details on tracking your credit card payments, check out this article: Record your payments to credit card in QuickBooks Online.

For future reference, you may want to refer to this article about effective methods for reconciling your account: Reconcile an account in QuickBooks Online. It also offers advice on how to tackle issues that may arise during the reconciliation process.

Did you know you can get tailored guidance to keep your financial records organized and reduce stress at tax time? Our QuickBooks Live Expert Assisted service offers various help, such as properly categorizing transactions and resolving issues like mismatched balance statements.

If you have further questions, please let us know in the comment section.

@komatthew 

How did you record the credit card payment in QuickBooks?  For whatever reason, the payment was not assigned to the Chase cc liability account.  

This is double-entry accounting, meaning every transaction hits two accounts - a debit and a credit.  The credit entry is $22K, leaving your bank account, so that part is correct.  The account assigned to the payment (the debit) needs to be assigned to the Chase cc liability account to bring that balance down by $22K.  If you used the check or expense function (New > Check, New > Expense), make sure you selected your cc as the category.  If you used the 'Pay down credit card' function, make sure you chose the correct cc.     

Thanks for the response. 

Think I figured out where the extra balance on the Credit Cards came from, its under another card "Roger" which is not the main card holder. Not sure where this came from. Do you know how to do delete? See image below

When I go to the actual credit card account this doesn't show up, so I can't undo it or delete it. 

The easiest way to delete that account is by going to your Chart of Accounts, Matthew. Then, locate the credit card and remove it from your QuickBooks Online (QBO) account.

Here's how:

1. Go to the Gear icon.
2. Select Chart of Accounts.
3. Locate the credit card account, then click it.
4. Select Delete to remove it.

To balance your account, reconcile your books and verify that your bank and credit card statements match.

Feel free to reply to this thread if you still have concerns. I'll be on the lookout for our reply.