Credit card payment not matching with bank entry

GolfNut72 · ‎September 10, 2020

I am having a problem with duplicate entries for business credit card payments -

I have a business credit card with 6 cards (for employees). I created a master account for the BCC and then created the 6 sub-accounts. The sub-accounts are connected to the bank feeds for the CC Company and the information has been downloaded.

When I pay the bill from the checking account it is categorized to the Master Account [per the information from Quickbooks on handling a business credit card with sub-accounts].

However, the payment shows up on one of the individual sub-credit cards and I am unable to match it to the bank feed transaction. This has caused a series of duplicate entries [that I have not reconciled] that is forcing the QBO account balance to be different from the actual balance.

First, how do I correct these duplicate entries. They are NOT bank feeds (i.e. they don't have the little green bank feed symbol next to them). Can they be deleted? They are unreconciled in my reconciliations.

Second - How do I avoid this problem to begin with? What is the proper way to match/accept the bank payment with the credit card information.

Thanks for your help with this.

EJ

Catherine_B · ‎September 10, 2020

Hello there, GolfNut72.

It's possible that you've recorded a transaction in QuickBooks and instead of matching it your bank feeds, you added them. If the bank downloaded transactions are already in your bank's register you can exclude them to avoid duplicates. If they've mistakenly added a transaction you can delete it and before doing so, I'd suggest reaching out to an accountant.

To delete a transaction in your register, here's how:

Go to the Accounting menu and select Chart of Accounts.
Look for the bank account where the transaction was added and click View register.
Select the transactions and click Delete.
If prompted, click Yes to confirm.

I'd recommend looking into your bank statement when reconciling your accounts as your guide. For more information on how to manage bank downloaded transactions, you can check out these articles:

Feel free to post again if there's anything else that you need. Take care and have a great day!

GolfNut72 · ‎September 11, 2020

Catherine_B

Thank you for the information. I thought that as long as the transaction wasn't from a bank feed I would be able to delete the transaction without any issues, and that is exactly what happened. The bank feed and the QBO banking register are now more in alignment.

However, I do have a follow up question -

When I deleted the entries from the bank register, the other half of the transfer reappeared in one of the sub-accounts for the credit card. I am unable to match them with the real transaction, so my question is should they be excluded?

Thank you

EJ

stxrvr · ‎January 18, 2022

I have this same issue with the same follow up question, how would one follow up

SarahannC · ‎January 18, 2022

Hello there, @stxrvr. I appreciate you for joining here.

It could be that the entries were added to the sub-account. Or, if the entries showing in your sub-account are duplicate ones, you can exclude them as long as you're able to reconcile your account smoothly.

If that's the case, open the sub-account and follow the steps outlined by Catherine_B. Note: Still, I'd recommend consulting your accountant to verify if you'll have to exclude those entries.

You'll want to check out these articles to know the chart of account usage limits and how to organize accounts in QuickBooks.

Please let me know if you have other concerns about QuickBooks. I'm here to help. Take care always.

stxrvr · ‎January 18, 2022

Thanks

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Credit card payment not matching with bank entry